Feb 4 (Reuters) – Voice-cloning AI startup ElevenLabs has secured an $11 billion valuation after raising $500 million in its latest funding round, the Wall Street Journal reported on Wednesday.
The company generated $330 million in annual recurring revenue last year, with hopes to double that figure this year, CEO Mati Staniszewski told the Journal.
The latest round more than triples the company’s $3.3 billion valuation from January 2025, when ElevenLabs raised $180 million.
The Series D funding was led by Sequoia Capital, the Journal said on Wednesday.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shreya Biswas)
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