ElevenLabs' €424 million raise values the company at €9.3 billion and marks one of Europe's largest AI funding rounds this year. ElevenLabs, a leader in AI voice generation and text-to-speech technology, has raised €424 million ($500 million) in a Series D funding round - valuing the British company at €9.3 billion ($11 billion), more than tripling its valuation from one year prior, and bringing total funding to €662 million ($781 million) across five rounds since its founding in 2022. The round is led by Sequoia Capital with Andrew Reed joining the board. Andreessen Horowitz quadrupled down while ICONIQ tripled down. New investors Lightspeed Venture Partners, Evantic Capital, and BOND are joining the round. Existing investors - BroadLight, NFDG, Valor Capital, AMP Coalition and Smash Capital are also continuing their support along with additional investor participation expected to be disclosed later in February. This follows 2023's €17.3 million Series A, 2024's €73 million Series B, and 2025's $180 million Series C. "We started by building a voice that could sound human - and we did. Today we are building foundational models across the full audio stack - text to speech, transcription, music, dubbing and conversational models with a world-leading research team. And we take the models even further by optimising them for the best product experiences that we believe will redefine the benchmarks," says Piotr Dabkowski, co-founder of ElevenLabs. In the 2025 - 2026 period, coverage shows that European AI funding has largely concentrated on early-stage and highly specialised applications, in contrast to the scale of ElevenLabs' €424 million Series D. London-based Polaron raised €6.7 million in February 2026 to develop an AI intelligence layer for materials science, targeting engineering use cases in energy and automotive industries. In Central Europe, Czech startup Ranketta secured a €1 million pre-Seed round in late 2025 to build a platform measuring brand visibility within large language model outputs. Sweden-based Redpine raised approximately €1.1 million in Seed funding in September 2025 to address hallucinations in AI systems through licensed and structured datasets. Meanwhile, UK startup Jam announced a €312k Seed round in 2025 to develop an agent-based AI marketing platform focused on enterprise workflows. Collectively, these rounds amount to roughly €9 million, underscoring how ElevenLabs' latest raise sits at the extreme upper end of European AI funding during this period, with most capital deployed into narrowly defined AI infrastructure and application layers rather than large-scale, multimodal foundation platforms. "Mati and Piotr are exceptional founders and leaders. They have built ElevenLabs into one of the most successful and most impactful companies in the global AI ecosystem. From world-leading research to mind-bending creative tools to enterprise voice agents at scale, ElevenLabs is changing how people communicate and interface with technology, with organisations and institutions, and with each other. It's an honour to join their board," adds Andrew Reed, Partner at Sequoia. Founded in 2022, ElevenLabs began by developing a human-like AI text to speech model. Since then, the company has expanded beyond voice, advancing state-of-the-art research across speech to text, sound effects, dubbing, music and conversation. ElevenLabs brings these models together with integrations, orchestration, and enterprise-grade infrastructure to deliver production-ready platforms for businesses, creators, and developers: * ElevenAgents, which enables enterprises to deploy voice and chat agents with the reliability, integrations, testing, and monitoring required for large-scale customer operations. It's an open platform for developers and enterprises to create custom tailored conversational agents. Organisations including Deutsche Telekom, Square, the Ukrainian Government, and Revolut use ElevenAgents for customer support, conversational commerce, citizen engagement, internal training, and inbound sales. * ElevenCreative, a platform for creators and brands to generate, edit, and localize high-fidelity audio across more than seventy languages. Brands like Duolingo, NVIDIA and TIME use ElevenCreative to create and localize content for global audiences. * ElevenAPI, which provides low-latency, production-grade voice infrastructure for developers building interactive products and experiences. ElevenAPI is used by companies including Meta, Epic Games, Salesforce, MasterClass and Harvey to power platforms reaching over one billion users. "The intersection of models and products is critical - and our team has proven, time and again, how to translate research into real-world experiences. This funding helps us go beyond voice alone to transform how we interact with technology altogether. We plan to expand our Creative offering - helping creators combine our best-in-class audio with video and Agents - enabling businesses to build agents that can talk, type, and take action. "When we started ElevenLabs, we couldn't have imagined the scale and impact we've reached today, with an incredible team doing the best work of their lives. Yet we stay hungry, knowing how early this space still is, as we build toward IPO and beyond," said Mati Staniszewski, Co-Founder of ElevenLabs. ElevenLabs plans to use this funding to continue to expand research and product, and continue its international expansion across London, New York, San Francisco, Warsaw, Dublin, Tokyo, Seoul, Singapore, Bengaluru, Sydney, São Paulo, Berlin, Paris and Mexico City with locally embedded go-to-market teams to support enterprise adoption of ElevenAgents and ElevenCreative worldwide. For decades, humans have adapted to machines by clicking buttons and navigating menus. ElevenLabs believes the next phase of computing will reverse that dynamic - with technology adapting to how people naturally communicate.

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