ELEVENLABS HITS $500M ARR WITH $550M FUNDING ROUND

ElevenLabs has secured backing from major institutional and celebrity investors as the voice AI platform reaches $500M in annual recurring revenue. The Series D round surpassed its announced $500M target, bringing total funding to $550M. New investors include asset management giant BlackRock, chip maker Nvidia, actors Jamie Foxx and Eva Longoria, and Squid Game creator Hwang Dong-hyuk. The company achieved its $500M ARR milestone in Q1. The London-based startup has also completed its second employee share sale in under a year, allowing staff to liquidate holdings. ElevenLabs provides AI-powered voice generation and synthesis tools for enterprise and consumer applications. The funding round reflects growing institutional confidence in voice AI as a core interface for AI applications. ElevenLabs competes in an expanding market alongside other generative AI platforms seeking enterprise adoption.