ElevenLabs (IVZ) Valuation Soars to $11B in $500M Funding Led by Sequoia

ElevenLabs (NASDAQ: IVZ) has more than tripled its valuation to $11 billion in a $500 million funding round led by Sequoia Capital, with Andreessen Horowitz and Iconiq also participating. Andrew Reed of Sequoia will join the board. The company plans to use proceeds to expand its conversational AI platform for customer support, training, sales and other enterprise functions, and to accelerate international expansion across over a dozen cities in the Americas, Asia Pacific and Europe. New investors include Lightspeed Venture Partners, Evantic Capital and BOND, with additional participants potentially disclosed in March. ElevenLabs last raised capital in early 2025 at a $3.3 billion valuation and allowed employees to sell shares at a $6.6 billion valuation in 2024. The firm has partnerships with Deutsch Telekom AG, Deliveroo Plc, Revolut and the Ukrainian government.