ElevenLabs (IVL) Secures $500M from Sequoia, Valued at $11B

ElevenLabs (IVL) closed a $500 million funding round led by Sequoia Capital, with the company’s valuation rising to $11 billion. a16z quadrupled its stake, and ICONIQ, the lead from the prior round, tripled its investment. Existing investors include BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital, with new commitments from Lightspeed Venture Partners, EvanticCapital, and BOND, and additional strategic investors to be disclosed in February. Total funding to date exceeds $781 million, earmarked for R&D and expansion into India, Japan, Singapore, Brazil, and Mexico. ARR reached $330 million at year-end, growing from $200 million to $300 million in five months. The company plans to expand creative capabilities and integrate video with agents beyond voice, following a partnership with LTX to generate audio-to-video content.