Company · Voice, image & video
ElevenLabs revenue, valuation & funding
ElevenLabs was valued at $22B in a September 2026 employee tender offer, and its CEO put annual recurring revenue at $600M that month. It's a private company, and its CEO says it could start preparing for an IPO in 2028.
At a glance
- Valuation: $22B in a $300M employee tender offer in September 2026, double its $11B Series D valuation of February.
- Revenue: $600M in annual recurring revenue in September 2026, as its CEO told TechCrunch. ElevenLabs publishes no audited results.
- Status: private. No stock ticker. Its CEO says it could start preparing for an IPO in 2028.
- Founded: 2022, by Mati Staniszewski and Piotr Dąbkowski, childhood friends from Warsaw.
- CEO: Mati Staniszewski.
- Investors: Sequoia, Andreessen Horowitz, ICONIQ, Wellington, T. Rowe Price and BlackRock, among others.
- Products: ElevenAgents, ElevenCreative and ElevenAPI, alongside its AI voice generator.
- Employees: 800 people, as the company said in September 2026.
Is ElevenLabs public? Can you buy its stock?
No. ElevenLabs is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol.
Mati Staniszewski said at Bloomberg Tech in London on November 3, 2026 that ElevenLabs could start preparing for an IPO in 2028, as The Next Web reported. No listing date or filing has been announced.
Until then, its shares are held by its founders, staff and investors. Employees have sold shares in tender offers, most recently $300M in September 2026. In May 2026 it also let creators and other retail investors invest through Robinhood Ventures, the company said. This page reports facts and gives no investment advice.
Valuation, round by round
Its valuation went from $3.3B in January 2025 to $22B in September 2026, more than six times in under two years.
| Date | Valued at | Raised | Led by | Source |
|---|---|---|---|---|
| Sep 2026 | $22B | $300M | Wellington and T. Rowe Price | ElevenLabs blog |
| May 2026 | — | $100M | — | ElevenLabs blog |
| Feb 2026 | $11B | $500M | Sequoia Capital | Reuters (via Yahoo Finance) |
| Sep 2025 | $6.6B | $100M | Sequoia and ICONIQ | ElevenLabs blog |
| Jan 2025 | $3.3B | $180M | a16z and ICONIQ Growth (co-leads) | TechCrunch |
The two latest marks came from employee tender offers, where staff sold shares, and not from new funding. A third close of the Series D in May 2026 added investors, but its amount was not given.
Revenue
ElevenLabs doesn't publish results. Its annual recurring revenue passed $200M in 2025 and reached $600M by September 2026, three times as much.
| Date | Figure | Basis | Source |
|---|---|---|---|
| Sep 2026 | $600M | Reported | Superpower Daily (summarizing TechCrunch) |
| Jun 2026 | $600M | Estimate | Sacra |
| May 2026 | $500M | Company | ElevenLabs blog |
| Jan 2026 | $330M | Reported | TechCrunch |
| Sep 2025 | $200M | Company | ElevenLabs blog |
Annual recurring revenue is a run rate, a month's revenue times twelve, and not audited revenue. In May 2026 the company put its 2025 year-end figure at $350M, above the $330M its CEO gave in January.
How ElevenLabs makes money
ElevenLabs sells its voice and audio models through paid plans, an API and enterprise contracts. Its homepage presents three product lines, ElevenAgents, ElevenCreative and ElevenAPI, alongside its AI voice generator.
- Subscriptions. The Free plan costs $0 a month with 10k credits. The Creator plan costs $22 a month after an $11 first month, and Enterprise is custom-priced. ElevenLabs pricing page
- Large organizations. They made up 55% of its revenue in September 2026, up from 40% a year earlier. ElevenLabs blog
- Margins. In a September 2026 interview, Mati Staniszewski declined to give a gross-margin figure. He said it would accept lower margins to pass savings to customers. Superpower Daily (summarizing TechCrunch)
- Public sector. In June 2026 it signed a memorandum of understanding with the UK government's DSIT on voice AI in public services, AI security and talent. ElevenLabs blog
Products
ElevenLabs launched its platform in beta in January 2023, according to Wikipedia. It has added speech, music and agent tools since.
- ElevenAgents (November 2024). A developer platform for launching interactive voice agents. It launched as Conversational AI and now carries the ElevenAgents name. Wikipedia
- Expressive Mode (February 2026). A mode released inside ElevenAgents. Wikipedia
- Eleven v3 (June 2025). A text-to-speech model that supports more than 70 languages. Wikipedia
- Scribe (February 2025). A speech-to-text model with character-level timestamps and speaker diarization. Wikipedia
- Eleven Music (August 2025). An AI music generator. Wikipedia
- ElevenCreative. Its tools for content creation. Its Image & Video feature uses third-party models such as Veo, Wan, Kling and Seedance. ElevenLabs
- ElevenLabs Reader (June 2024). An app for iOS and Android. Wikipedia
- AI Dubbing (October 2023). A tool that translates speech into more than 20 languages. Wikipedia
Customers
ElevenLabs said in September 2026 that it had launched 10 million conversational agents and that its models support over 90 languages, in a company post.
It reached over one million registered users between its launch and June 2023, according to Wikipedia.
Sacra estimates that 41% of Fortune 500 companies use its voice platform.
- Nvidia, Stripe, Klarna and Deutsche Telekom are among the enterprises it names as customers, along with governments from Brazil to Ukraine. ElevenLabs blog
- Revolut uses its voice agents to serve 4 million customers in 30 languages across the UK and Europe. Deliveroo and Trainline are also customers. ElevenLabs blog
Leadership
- Mati Staniszewski, co-founder and CEO since 2022. ElevenLabs blog
- Piotr Dąbkowski, co-founder. He leads the research and engineering teams that build its audio models.
- Ethan Tandowsky, chief financial officer since September 2026. He was previously CFO of Adyen. ElevenLabs blog
- Ashley Kramer, chief revenue officer, announced September 2, 2026. ElevenLabs blog
- Alex Holt, field CTO since June 2026. He joined in 2023 as one of its first 10 employees. ElevenLabs blog
Who owns ElevenLabs?
Its founders, staff and investors. As a private company it doesn't publish who holds what, and no stake has been disclosed.
- Wellington and T. Rowe Price led the $300M employee tender offer in September 2026. ElevenLabs blog
- BDT & MSD, EQT, GIC, Goldman Sachs, OTPP and Sapphire Ventures invested for the first time in that tender. ElevenLabs blog
- BlackRock, Wellington, D.E. Shaw and Schroders joined in the third close of the Series D in May 2026, with NVIDIA through NVentures, Salesforce, Santander, KPN and Deutsche Telekom. ElevenLabs blog
- Sequoia Capital led the $500M Series D in February 2026, at an $11B valuation. Reuters (via Yahoo Finance)
- Lightspeed Venture Partners, Evantic Capital and Bond were new investors in that Series D, alongside Andreessen Horowitz and Iconiq. Sacra
- a16z and ICONIQ Growth co-led the $180M Series C in January 2025. TechCrunch
- Retail investors can hold a stake through Robinhood Ventures, an option opened with the May 2026 Series D close. ElevenLabs blog
Competitors
Sacra lists large technology platforms with voice synthesis of their own as competitors. It names separate rivals in AI music.
- OpenAI, with voice synthesis in its AI platform. Sacra
- Google, with voice synthesis in its AI platform. Sacra
- Microsoft, with voice synthesis in its AI platform. Sacra
- Meta, with voice synthesis in its AI platform. Sacra
- Suno and Udio, in AI music generation. Major record labels sued both in June 2024. Sacra
Timeline and latest news
From its founding to the latest reports, newest first.
- Nov 3, 2026Latest
Mati Staniszewski said it could start preparing for an IPO in 2028. The Next Web - Sep 30, 2026Latest
Closed a $300M employee tender offer at a $22B valuation. ElevenLabs blog - Sep 24, 2026Latest
Its CEO put annual recurring revenue at $600M. Superpower Daily (summarizing TechCrunch) - Sep 8, 2026
Ethan Tandowsky, formerly CFO of Adyen, joined as chief financial officer. ElevenLabs blog - Jun 8, 2026
Signed a memorandum of understanding with the UK government on voice AI in public services. ElevenLabs blog - May 5, 2026
Said it had passed $500M in annual recurring revenue. ElevenLabs blog - Feb 4, 2026
Raised $500M at an $11B valuation, led by Sequoia Capital. Reuters (via Yahoo Finance) - Sep 8, 2025
Launched a $100M employee tender offer at a $6.6B valuation. ElevenLabs blog - Aug 2025
Launched Eleven Music, an AI music generator. Wikipedia - Jan 30, 2025
Raised $180M at a $3.3B valuation, co-led by a16z and ICONIQ Growth. TechCrunch - Nov 2024
Released Conversational AI, its platform for voice agents, now ElevenAgents. Wikipedia - Jan 2023
Launched its platform in beta. Wikipedia
Legal matters
A suit by voice actors ended in November 2025, when the parties stipulated to a dismissal with prejudice. Exhibit AI lists its status as settled.
- Vacker v. ElevenLabs (filed August 29, 2024, Delaware). Voice actors Karissa Vacker and Mark Boyett and authors sued over the "Bella" and "Adam" voice clones, with DMCA claims. Exhibit AI
- Biden robocalls (January 2024). New Hampshire's attorney general investigated AI-generated robocalls before the primary. Audio experts concluded the call was made using ElevenLabs. Wikipedia gives no outcome. Wikipedia
Questions people ask
Is ElevenLabs a public company? Can I buy ElevenLabs stock?
No. ElevenLabs is private and has no ticker, so its shares aren't sold on any exchange. Its CEO says it could start preparing for an IPO in 2028.
When will ElevenLabs IPO?
Mati Staniszewski said on November 3, 2026 that it could start preparing for an IPO in 2028, as The Next Web reported. No listing date or filing has been announced.
Who owns ElevenLabs?
Its founders, staff and investors, including Sequoia, Andreessen Horowitz, ICONIQ, Wellington, T. Rowe Price and BlackRock. Stakes haven't been disclosed.
Who is the CEO of ElevenLabs?
Mati Staniszewski, who co-founded it and has been CEO since 2022.
Who founded ElevenLabs?
Mati Staniszewski and Piotr Dąbkowski, childhood friends from Warsaw, in 2022.
How much is ElevenLabs worth?
$22B, set by a $300M employee tender offer that ElevenLabs announced in September 2026. That doubled its $11B Series D valuation of February.
How much revenue does ElevenLabs make?
Its CEO put annual recurring revenue at $600M in September 2026, according to a Superpower Daily summary of a TechCrunch interview. It passed $330M in 2025.
Is ElevenLabs profitable?
It hasn't disclosed a profit figure. In September 2026 Mati Staniszewski declined to give a gross margin and said it would accept lower margins to pass savings to customers.
How does ElevenLabs make money?
It sells subscriptions, from a free plan to a $22 monthly Creator plan, plus custom-priced Enterprise plans and its API. Large organizations made up 55% of revenue in September 2026.
Where is ElevenLabs headquartered?
London. In June 2026 it said it would move into a new London headquarters triple the size of its old office.
People on Real Alpha
- Mati Staniszewski, Co-founder & CEO, ElevenLabs
- Piotr Dąbkowski, Co-founder, ElevenLabs
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How this page is sourced
Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it. Spotted something that's off? .
Last checked Nov 7, 2026