ElevenLabs' Annualized Revenue Surges to $500 Million in Just 4 Months: Investors Range from BlackRock to "Squid Game" Director

According to Watchtower Beating monitoring, ElevenLabs, which started with AI voice technology, announced that its ARR (Annual Recurring Revenue, the annualized figure based on current subscription revenue) has surpassed $500 million. At the end of last year, this number was $350 million, showing a 43% increase in the past 4 months, mainly driven by enterprise customers extensively deploying the AI voice Agent in customer service, sales, and recruitment.

With the acceleration of its business, ElevenLabs has completed the third tranche of its Series D funding. Investors come from the financial, technology, and entertainment sectors: the financial side includes the world's largest asset management company BlackRock, hedge funds D.E. Shaw and Wellington; the technology side includes NVIDIA (through its NVentures arm), Salesforce, and Deutsche Telekom; the entertainment side is star-studded, with Hollywood actor Jamie Foxx, actress Eva Longoria, "Squid Game" director Hwang Dong-hyuk, and more than 30 other celebrities making their first-time investments. ElevenLabs also allowed retail investors to subscribe for shares for the first time through Robinhood Ventures.

The company also completed a $100 million secondary share sale, providing employees with a second cash-out opportunity in less than a year. The current team consists of 530 people, distributed across over 50 countries.