ElevenLabs Crosses $500M ARR as BlackRock, NVIDIA Join $11B Series D Round

ElevenLabs announced on May 5, 2026 that it has surpassed $500 million in annual recurring revenue (ARR) and added institutional investors including BlackRock, NVIDIA, and Deutsche Telekom to its $500M Series D round, which closed at an $11 billion valuation.

Revenue Milestones

The company's ARR tripled in under a year, reaching $500M with $100 million in net new ARR added in Q1 2026 alone — a rare growth rate at scale. The Series D was originally announced in February 2026, led by Sequoia Capital. New participants include BlackRock, Wellington, D.E. Shaw, Schroders (institutional), and NVIDIA, Salesforce Ventures, Deutsche Telekom, Santander, and KPN (strategic).

Enterprise Expansion

ElevenLabs signed enterprise contracts with Deutsche Telekom, Revolut, and Klarna. The company completed a $100 million secondary tender offering and acquired the team from Polish voice AI startup Papla. A retail investment opportunity via Robinhood Ventures is planned. Over 30 celebrity investors — including Jamie Foxx, Eva Longoria, and Squid Game creator Hwang Dong-hyuk — also participated.

Building Toward Human-Level Voice AI

CEO Mati Staniszewski framed the company's mission around closing the gap between AI and natural human voice: consumers require human-level AI voice models rather than robotic-sounding interactions. Proceeds will fund emotional conversational models, ElevenAgents expansion, dubbing capabilities, and global market growth. ElevenLabs is the first voice AI company to cross $500M ARR — a milestone signaling mainstream enterprise voice adoption. Source: TechCrunch.