ElevenLabs reached an $11 billion valuation in February 2026 after it secured $500 million in Series D funding. This capital, led by Sequoia Capital, follows a period of growth where the company surpassed $500 million in annual recurring revenue by May 2026. The company ended 2025 with more than $330 million in annual recurring revenue, a significant increase from $100 million in 2025. Total funding reached $781 million since its founding in 2022. Large enterprises such as Deutsche Telekom, Square, and Revolut use ElevenAgents to manage customer support, conversational commerce, and internal training. The Ukrainian Government also uses the platform for citizen engagement and inbound sales. The company uses its $500 million Series D funding to expand ElevenAgents, an enterprise platform that allows organizations like Deutsche Telekom and Square to deploy interactive voice agents for customer support, inbound sales, and internal training workflows across many different industries. New investors like Lightspeed Venture Partners, Evantic Capital, and BOND joined the round. Existing investors such as Andreessen Horowitz and ICONIQ provided significant participation. Andrew Reed joined the board of directors. The company employs 400 people and maintains teams in cities like London, New York, Tokyo, and Mexico City. Deutsche Telekom uses the platform to deploy the world’s first AI agent in a network for live assistance and real-time translation during phone calls.
The platform expands into the audiobook market through a partnership with Spotify and Findaway Voices. Authors create digital voice-narrated books in 29 languages using ElevenLabs technology and then distribute them to millions of listeners. Spotify marks these titles in metadata with the sentence, "This audiobook is narrated by a digital voice." This expansion into storytelling follows the success of ElevenCreative, which helps brands like Duolingo and NVIDIA produce audio in over 70 languages. ElevenLabs also provides AI versions of the voices of James Dean, Burt Reynolds, Judy Garland, and Sir Laurence Olivier for its Reader App. Creators can make custom voices from just a few seconds of audio. You can also change the tone, speed, and feeling of cloned voices using audio tags like [excited] or [sighs]. However, synthetic narration creates tension with human performers. Simon Kennedy, president of the Australian Association of Voice Actors, notes that people lose work to synthetic clones obtained without consent. Professional narrators also complain that AI reduces their opportunities and degrades their work. One actor reported that a producer used his voice to create episodes after he had already completed character work for a series. Can technology balance these competing interests?
Developers and creators choose between ElevenLabs and competitors like OpenAI based on specific technical needs. The AI voice generator market reached a projected $6.40 billion in 2025. ElevenLabs provides superior emotional acting for creators. OpenAI provides the Realtime API for low-latency developer integration. ElevenLabs users can change the tone, speed, and feeling of cloned voices. The company provides SDKs for web, mobile, and desktop platforms. You should choose ElevenLabs if you need emotional performance.
| Plan | Price | Characters |
|---|---|---|
| Starter | $5/mo | 30,000 |
| Creator | $22/mo | 100,000 |
| Independent Publisher | $99/mo | 500,000 |
| Growing Business | $330/mo | 2,000,000 |
The company supplies various tiers for different usage levels. The Starter plan costs $5 per month for 30,000 characters. The Creator plan costs $22 per month for 100,000 characters. The Independent Publisher plan costs $99 per month for 500,000 characters. The Growing Business plan costs $330 per month for 2,000,000 characters. The company also provides the ElevenAPI for developers to build products that reach over one billion users. Meta, Epic Games, Salesforce, MasterClass, and Harvey use this infrastructure to power their platforms. ElevenLabs surpasses Murf AI in realism and cloning precision. Users can adjust stability and similarity with sliders. The price increases as usage increases.
