ElevenLabs Hits $500M ARR, Attracts BlackRock, NVIDIA, Celebrities
AI voice technology leader ElevenLabs has smashed through $500 million in annual recurring revenue (ARR), the company announced on May 5, 2026. The milestone comes just months after ElevenLabs closed a massive $500 million Series D round that valued the firm at $11 billion. Bolstered by this growth, the company has also welcomed an array of heavyweight investors, including BlackRock, Wellington, NVIDIA (via NVentures), and a surprising lineup of celebrity backers such as Jamie Foxx and Eva Longoria.
The announcement underscores ElevenLabs' rapid ascent in the competitive AI sector. Founded in 2022, the company specializes in AI-powered text-to-speech synthesis, voice cloning, and conversational AI agents. Its tools are now used by enterprises like Deutsche Telekom, Salesforce, and Santander to streamline customer support, marketing, and sales through natural-sounding, multilingual AI voice agents. In just the first four months of 2026, ElevenLabs grew its ARR from $350 million to over $500 million—a staggering $150 million uptick.
"Every major enterprise will communicate with its customers and audiences through AI agents," said Rob Mazzoni, Technology Sector Lead for Late-Stage Growth at Wellington Management, in a statement. "ElevenLabs has built the technical leadership and commercial traction to define the category."
Strategic Backing From Enterprises and Celebrities
Notably, ElevenLabs isn't just attracting institutional funding. Several of its enterprise clients, such as Deutsche Telekom and Santander, have also invested in the company. Deutsche Telekom, for instance, uses ElevenLabs' platform for customer support, real-time translation, and even AI-assisted live phone calls.
On top of institutional and enterprise interest, ElevenLabs has drawn support from Hollywood and the creative industries. Jamie Foxx, Eva Longoria, and Squid Game creator Hwang Dong-hyuk are part of a group of over 30 high-profile investors. Longoria noted, "AI is transforming how stories are told and who they can reach. ElevenLabs is at the forefront of this technology, and I’m excited to invest in a company that builds with creatives in mind."
Why It Matters
ElevenLabs' success is emblematic of the booming demand for conversational AI, a market projected to exceed $40 billion by 2030. Its technology addresses a key bottleneck in AI adoption: natural, human-like communication. As businesses and creators increasingly lean on AI for scale and efficiency, platforms like ElevenLabs are becoming indispensable infrastructure.
The funding will allow ElevenLabs to expand its offerings further. Plans include integrating image and video generation into its platform, enabling marketing teams to produce full-scale campaigns. Additionally, the company is focused on building more advanced AI agents capable of interacting across multiple channels, including voice, chat, and email. The business also aims to grow its international operations, with recent expansions into Australia and New Zealand announced this week.
Looking Ahead
With $500 million ARR in the rearview mirror and a growing ecosystem of investors and clients, ElevenLabs is poised for its next phase of growth. The company currently operates with a global team of 530 employees across more than 50 countries, but the road ahead includes even greater ambitions. From enabling enterprises to redefine customer interactions to empowering creators with groundbreaking tools, ElevenLabs is carving out a pivotal role in the future of AI-driven communication.
For those tracking the AI space, this latest announcement cements ElevenLabs as a key player to watch—both for its technological impact and its ability to scale revenue at a blistering pace.