ElevenLabs has strengthened its position as the UK’s most valuable artificial intelligence company after securing $500 million (£368 million) in a Series D funding round, pushing its valuation to $11 billion.
The London-based company, known for its advanced AI-generated voice and audio technology, said the latest investment round was led by U.S. venture capital firm Sequoia.
Existing investors including a16z, Iconiq, BroadLight, NFDG, Valor Capital, AMP Coalition and Smash Capital also participated, alongside new backers Lightspeed Venture Partners, Evantic Capital and Bond.
Commenting on the funding, ElevenLabs co-founder Mati Staniszewski said the investment reflects strong confidence from customers and partners and would allow the company to accelerate product development. He said the funds will be used to expand ElevenAgents, the firm’s conversational AI platform designed to help enterprises improve customer engagement, boost sales performance and streamline internal operations.
The company is also preparing to roll out a new conversational model for its agents platform, offering faster responses, improved emotional expression and enhanced turn-taking, building on its recently launched v3 model.
ElevenLabs first became the UK’s most valuable AI company in January 2025 with a $3 billion valuation. The latest round places it well ahead of domestic rival Synthesia, currently valued at around $4 billion.
The valuation surge is supported by strong financial performance, with ElevenLabs reporting annual recurring revenue of $330 million last year.
