Feb 4 (Reuters) -

AI voice generation firm ElevenLabs said on Wednesday it had

secured an $11 billion valuation after raising $500 million in

its latest funding ‌round, signaling strong investor enthusiasm

for the startup's prospects.

The latest round, ​led by Sequoia Capital, more than triples

the company's $3.3 billion ‍valuation from January 2025, when

ElevenLabs raised $180 ⁠million.

The Series ⁠D funding drew new investors, including

Lightspeed Venture Partners and Evantic Capital, ‌along with

existing backers Andreessen ​Horowitz and ICONIQ.

Founded by Piotr Dabkowski and CEO Mati Staniszewski in

2022, London-based ElevenLabs builds ⁠AI tools, including a

platform ‍that ​turns text into realistic speech.

It plans to use proceeds from the funding to fuel its

international expansion ‍and further research on emotional

conversational models and dubbing.

The industry has seen a gush of investors racing to pump

billions into AI firms, hoping to capitalize on the wider

adoption of the disruptive technology across ​sectors.

"We ‍plan to expand our Creative offering...enabling

businesses to build agents that can talk, type and ​take action,"

Staniszewski said in a statement.

The funding comes as ElevenLabs benefits from the viral

popularity of the OpenClaw ecosystem, where users integrate the

company's voice models to build self-hosted personal AI agents.

ElevenLabs generated over $330 million in annual recurring

revenue in ​2025. Staniszewski hopes to double that figure this

year, he told the Wall Street Journal, which first reported the

news.