Eleven Labs, a company specializing in artificial intelligence (AI) audio research and development, is expanding its presence in the voice-based conversational AI market with a major new investment. The company is rapidly growing its revenue and strengthening its presence in the enterprise market, solidifying its position as a global AI company.

On February 5, 2026, Eleven Labs announced the completion of a $500 million Series D funding round. This investment values the company at approximately $11 billion, more than tripling its valuation from a year ago.

This round was led by Sequoia Capital, with Andrew Reed joining the board. Existing investor Andreessen Horowitz quadrupled its investment, and ICONIQ tripled its investment, continuing its follow-on investment. New investors including Lightspeed Venture Partners and BOND also participated.

Eleven Labs plans to focus this investment on enhancing its enterprise platform for voice and conversational AI, ElevenAgents. The company explained that through this, it plans to expand the use of voice agents across customer experience (CX), sales and marketing, and internal business processes.

On the technology side, the company has upgraded its voice agent with turn-taking improvements and the "Eleven v3 Conversational" model. The company stated that this has resulted in improved response speed and voice expressiveness.

Business performance is also continuing. Eleven Labs is expected to achieve over $330 million in annual recurring revenue (ARR) by 2025. This is the result of companies and public institutions, including Deutsche Telekom, Square, the Ukrainian government, and Revolt, adopting the technology in diverse areas, including customer support and conversational commerce.

Additionally, this investment will be used to strengthen core research and development (R&D) in areas such as emotion-based conversational models, dubbing, and audio general intelligence (AGI). Eleven Labs is also continuing its international expansion strategy by establishing local GTM organizations in global locations such as London, New York, and Seoul.

The industry believes that through this investment, Eleven Labs will be able to fully expand its voice AI technology into the enterprise environment and become a key player in the next-generation human-machine interaction method.