---
title: "ElevenLabs revenue and valuation"
description: "ElevenLabs' ARR is estimated at $600M–$1.02B, last reported at $600M. Valued at $22B after raising $1.24B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/elevenlabs.md
canonical_url: https://www.tryspecter.com/revenue-valuation/elevenlabs
publisher: Specter
last_updated: 2026-11-01
---

# ElevenLabs revenue and valuation

Specter estimates ElevenLabs' annual revenue at $600M to $1.02B and its valuation at $18.3B to $26.4B. The company last reported $600M ARR in July 2026 and was priced at $22B in September 2026.

ElevenLabs provides AI voice models and APIs for text-to-speech, voice cloning, and dubbing.

- Estimated revenue: $600M to $1.02B (October 2026)
- Estimated valuation: $18.3B to $26.4B (October 2026)
- Last reported ARR: $600M (July 2026)
- Total funding: $1.24B
- Founded: 2022
- Headquarters: London, United Kingdom
- Employees: 1,515
- Sector: AI voice
- Specter Rank: #34,935

## ElevenLabs revenue

ElevenLabs grew from $200M ARR in September 2025 to $600M in July 2026. Specter's model puts current ARR between $600M and $1.02B, anchored to five reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $600M ARR | July 2026 | [From Zero to $600M in Record Time](https://x.com/TKOTriggerX/status/2077165761202651351) (x.com) |
| $500M ARR | May 2026 | [Celebrities flock to hot voice company Eleven Labs — passes $500 million](https://www.breakit.se/artikel/46238/nu-flockas-kandisarna-runt-heta-rostbolaget-eleven-labs-gar-over-500-miljoner-dollar) (breakit.se) |
| $330M ARR | December 2025 | [ElevenLabs, a voice AI startup, has surpassed $330 million in annual recurring revenue (ARR) last year, according to CEO Mati Staniszewski.](https://www.linkedin.com/posts/enterprise-ai-brief_ai-artificialintelligence-ainews-activity-7417778089931452416-1KcK) (linkedin.com) |
| $300M ARR | December 2025 | [This has been the craziest year professionally — updates on ElevenLabs and Baobab Ventures](https://x.com/Carles_Reina/status/2002029023921045576) (x.com) |
| $200M ARR | September 2025 | [BREAKING: ElevenLabs has hit $200m ARR JUST 10 months after hitting $100m ARR!](https://www.linkedin.com/posts/seb-johnson_elevenlabs-activity-7370781582615531520-onGn) (linkedin.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $780M | $600M | $1.02B |
| September 2026 | $760M | $600M | $950M |
| August 2026 | $740M | $600M | $920M |
| July 2026 | $600M | $500M | $720M |
| June 2026 | $550M | $440M | $690M |
| May 2026 | $500M | $420M | $600M |
| April 2026 | $440M | $340M | $560M |
| March 2026 | $380M | $310M | $460M |
| February 2026 | $330M | $270M | $400M |
| January 2026 | $330M | $270M | $400M |
| December 2025 | $310M | $260M | $380M |
| November 2025 | $193M | $161M | $230M |
| October 2025 | $196M | $160M | $240M |
| September 2025 | $200M | $166M | $240M |
| August 2025 | $186M | $135M | $260M |
| July 2025 | $173M | $118M | $250M |
| June 2025 | $161M | $108M | $240M |
| May 2025 | $150M | $95M | $240M |
| April 2025 | $139M | $92M | $210M |
| March 2025 | $129M | $94M | $177M |
| February 2025 | $120M | $87M | $167M |
| January 2025 | $112M | $86M | $146M |
| December 2024 | $104M | $84M | $129M |
| November 2024 | $97M | $79M | $118M |
| October 2024 | $90M | $75M | $108M |
| September 2024 | $46M | $24M | $68M |
| August 2024 | $62M | $25M | $99M |
| July 2024 | $59M | $40M | $79M |
| June 2024 | $52M | $34M | $70M |

## ElevenLabs valuation

ElevenLabs' valuation rose from $99M at its Series A in June 2023 to $11B at its Series D in February 2026. A September 2026 secondary sale priced it at $22B. Specter's live estimate sits between $18.3B and $26.4B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $22B | $18.3B | $26.4B |
| September 2026 | $22B | $18.3B | $26.4B |
| August 2026 | $11B | $9.15B | $13.2B |
| July 2026 | $11B | $9.11B | $13.3B |
| June 2026 | $11B | $9.15B | $13.2B |
| May 2026 | $11B | $9.15B | $13.2B |
| April 2026 | $11B | $9.15B | $13.2B |
| March 2026 | $11B | $9.15B | $13.2B |
| February 2026 | $11B | $9.15B | $13.2B |
| January 2026 | $6.6B | $5.49B | $7.93B |
| December 2025 | $6.6B | $5.49B | $7.93B |
| November 2025 | $6.6B | $5.49B | $7.93B |
| October 2025 | $6.6B | $5.44B | $8.01B |
| September 2025 | $6.6B | $5.49B | $7.93B |
| August 2025 | $4.54B | $3.69B | $5.59B |
| July 2025 | $3.12B | $2.58B | $3.79B |
| June 2025 | $2.15B | $1.79B | $2.58B |
| May 2025 | $3.3B | $2.74B | $3.97B |
| April 2025 | $3.3B | $2.75B | $3.95B |
| March 2025 | $3.3B | $2.75B | $3.97B |
| February 2025 | $3.3B | $2.74B | $3.97B |
| January 2025 | $3.3B | $2.74B | $3.97B |
| December 2024 | $4.67B | $3.76B | $5.79B |
| November 2024 | $6.6B | $5.49B | $7.93B |
| October 2024 | $5.46B | $3.38B | $8.83B |
| September 2024 | $4.53B | $2.62B | $7.82B |
| August 2024 | $3.75B | $2.38B | $5.91B |
| July 2024 | $3.1B | $2.25B | $4.29B |
| June 2024 | $2.57B | $1.89B | $3.5B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $22B | October 2026 | [sifted.eu](https://sifted.eu/articles/elevenlabs-doubles-valuation-to-22bn-with-tender-offer/) |
| $22B | September 2026 | Funding round |
| $11B | August 2026 | [startuphub.ai](https://www.startuphub.ai/ai-news/ai-video/2026/elevenlabs-hits-500m-arr-attracts-major-investors) |
| $11B | June 2026 | [techfundingnews.com](https://techfundingnews.com/poland-vinci-fund-11m-elevenlabs-ai-lab-poland/) |
| $11B | May 2026 | [techcrunch.com](https://techcrunch.com/2026/05/05/elevenlabs-lists-blackrock-jamie-foxx-and-longoria-as-new-investors/) |
| $11B | April 2026 | [mamstartup.pl](https://mamstartup.pl/elevanlabs-tanecznym-krokiem-wkracza-na-rynek-muzyczny-powstala-nowa-aplikacja-do-generowania-muzyki/) |
| $11B | March 2026 | [lefigaro.fr](https://www.lefigaro.fr/secteur/high-tech/ia-vocale-clonage-de-voix-comment-la-start-up-elevenlabs-est-devenue-l-une-des-plus-belles-reussites-europeennes-20260228) |
| $11B | February 2026 | Funding round |
| $6.6B | January 2026 | [saastr.com](https://www.saastr.com/elevenlabs-just-hit-330m-arr-it-took-twilio-8-years-to-get-there/) |
| $6.6B | December 2025 | [forbes.es](https://forbes.es/empresas/837537/como-una-pequena-startup-polaca-se-convirtio-en-la-voz-multimillonaria-de-la-ia) |
| $6.6B | November 2025 | [forbes.pl](https://www.forbes.pl/biznes/nvidia-inwestuje-w-polski-elevenlabs-na-czym-polega-fenomen-polakow/r0p9ptk) |
| $6.6B | September 2025 | [mamstartup.pl](https://mamstartup.pl/time100-ai-2025-ktorzy-polacy-sa-w-gronie-liderow-myslicieli-i-innowatorow-przyszlosci-ai/) |
| $2.15B | June 2025 | [techcrunch.com](https://techcrunch.com/2025/03/11/y-combinator-founders-raising-less-money-signal-a-vibe-shift-vc-says/) |
| $3.3B | May 2025 | [frenchweb.fr](https://www.frenchweb.fr/cloner-traduire-transcrire-leurope-veut-sa-voix-dans-la-guerre-mondiale-de-lia-audio) |
| $3.3B | February 2025 | [frenchweb.fr](https://www.frenchweb.fr/diversite-google-meta-et-amazon-font-marche-arriere-dataventure-acquiert-the-ramp-tesla-manoeuvre-en-coulisses-a-geneve/451210) |
| $3.3B | January 2025 | Funding round |
| $6.6B | November 2024 | [forbes.pl](https://www.forbes.pl/biznes/spektakularny-wzrost-wartosci-elevenlabs-pracownicy-moga-sprzedac-akcje/wzwnjmj) |
| $1B | January 2024 | Funding round |
| $99M | June 2023 | Funding round |

## ElevenLabs funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 30 Sep 2026 | Secondary | $300M | $22B | T. Rowe Price, Wellington Management |
| 6 May 2026 | Secondary | $100M | Undisclosed | Undisclosed |
| 3 Feb 2026 | Series D | $561M | $11B | Sequoia Capital |
| 11 Nov 2025 | Funding round | Undisclosed | Undisclosed | Matthew McConaughey |
| 23 Sep 2025 | Corporate round | Undisclosed | Undisclosed | NVIDIA |
| 24 Jan 2025 | Series C | $180M | $3.3B | ICONIQ Growth, Andreessen Horowitz |
| 21 Feb 2024 | Non-equity assistance | Undisclosed | Undisclosed | Disney Accelerator |
| 22 Jan 2024 | Series B | $80M | $1B | Nat Friedman, Andreessen Horowitz, Daniel Gross |
| 20 Jun 2023 | Series A | $19M | $99M | Andreessen Horowitz, Daniel Gross, Nat Friedman |
| 22 Jan 2023 | Pre-Seed | $2M | Undisclosed | Credo Ventures |

## ElevenLabs vs competitors

Voice AI providers compete by balancing synthetic fidelity against low-latency agent performance.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| ElevenLabs | $600M–$1.02B | $18.3B–$26.4B |
| Deepgram (deepgram.com) | $80M–$119M | $1.04B–$1.63B |
| Play (play.ai) | $2.7M–$17M | $53M–$195M |
| Rime (rime.ai) | $2.5M–$18M | $135M–$350M |
| Deepdub (deepdub.ai) | $11M–$57M | $102M–$620M |

## Questions

### What is ElevenLabs' revenue?

Specter estimates ElevenLabs' annual recurring revenue at $600M to $1.02B as of October 2026. ElevenLabs last reported $600M ARR in July 2026, up from $200M in September 2025.

### What is ElevenLabs' valuation?

ElevenLabs' latest post-money valuation is $22B, from a September 2026 secondary sale. Its last primary round was a $561M Series D at $11B in February 2026, led by Sequoia Capital. Specter's live estimate is $18.3B to $26.4B.

### What is ElevenLabs' revenue multiple?

ElevenLabs is valued at about 36.7× ARR, based on its $22B September 2026 valuation and $600M last reported ARR. That works out to roughly $396K of ARR per employee.

### How much funding has ElevenLabs raised?

$1.24B across 10 rounds, from a $2M Pre-Seed in January 2023 to a $300M Secondary in September 2026.

### Who invested in ElevenLabs?

71 investors, including ICONIQ Growth, Matthew McConaughey, NVIDIA, Sequoia Capital, T. Rowe Price and Wellington Management.

### Who are ElevenLabs' competitors?

Deepgram, Play, Rime and Deepdub. Specter ranks 30 competitors for ElevenLabs.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "ElevenLabs revenue and valuation." tryspecter.com/revenue-valuation/elevenlabs. Updated November 2026.