ElevenLabs hits $330 million ARR as voice AI adoption accelerates

ElevenLabs, the artificial intelligence voice-generation startup, has reached $330 million in annual recurring revenue (ARR), according to CEO Mati Staniszewski in an interview with Bloomberg. The milestone highlights a growth trajectory for the company, which was founded in 2022 and launched its first product in 2023.

According to Staniszewski, the company’s revenue milestones progressed in the following timeframe:

• It took the company 20 months to reach its first ARR milestone of $100 million.
• It took 10 months to reach its second ARR milestone of $200 million.
• It took five months to reach the current ARR of $330 million.

Staniszewski noted that this progression demonstrates the overall trajectory of the company. “Really, what this [growth in ARR] shows is that trajectory across the company. We started the company in 2022 and launched the first product in 2023. It took us 20 months to reach $100 million in ARR, 10 months to reach $200 million, and five months to reach the current number,” he said.

The startup is seeing adoption of its voice agent technology, which uses company data and knowledge bases to power customer support and customer experience interactions. According to Staniszewski, both startups and Fortune 500 companies are adopting this technology. In a separate post on X, ElevenLabs reported that enterprises have deployed its technology to handle more than 50,000 calls per month.

This growth follows a Series C funding round—a stage of venture capital financing—in January 2025, where the company raised $180 million at a $3.3 billion valuation. That round was co-led by venture capital firm a16z and investment firm ICONIQ. The company’s valuation subsequently doubled after ICONIQ and Sequoia purchased employee shares for $100 million.

Beyond providing models for voice generation and voice agents, ElevenLabs has expanded its product offerings. The company launched music creation capabilities last year. It has also struck deals with high-profile figures, securing partnerships with actors Michael Caine and Matthew McConaughey to use their voices for AI-generated content.

Why it matters

The company’s rapid revenue growth trajectory highlights the increasing adoption of its voice agent technology by both startups and Fortune 500 enterprises.