AI voice generation startup ElevenLabs has generated more than $330 million in annual recurring revenue (ARR), CEO Matti Staniszewski said in an interview with Bloomberg.
“Really, what this (ARR growth) shows is that trajectory for the company as a whole. We founded the company in 2022 and launched our first product in 2023. It took us 20 months to reach $100 million in ARR, 10 months to reach $200 million, and five months to reach our current numbers,” he said.
Staniszewski said both Fortune 500 companies and startups are adopting the company’s voice agent technology, using enterprise data and knowledge bases to power customer support and customer experience interactions. In a separate post about X, the company said businesses are deploying its technology to handle more than 50,000 calls per month.
The startup raised $180 million in Series C funding co-led by a16z and ICONIQ Growth in January 2025 at a valuation of $3.3 billion. A few months later, ICONIQ and former investor Sequoia spent another $100 million buying up employee stock, doubling the company’s valuation.
In addition to offering voice generation and voice agent models, the company launched music creation capabilities last year and signed deals with celebrities such as Michael Caine and Matthew McConaughey to use their voices in AI-generated content.
