ElevenLabs Achieves $500 Million Annual Recurring Revenue in Just Four Months: Investors Range from BlackRock to 'Squid Game' Director

According to monitoring by Beating, ElevenLabs, which started in AI voice technology, announced that its ARR (Annual Recurring Revenue, calculated based on current subscription income) has surpassed $500 million. This figure was only $350 million at the end of last year, marking a 43% increase in just four months, primarily driven by enterprise clients extensively utilizing AI voice agents in customer service, sales, and recruitment. With the acceleration of business, ElevenLabs has completed the third tranche of its Series D financing. Investors span across finance, technology, and entertainment sectors: on the finance side, global asset management giant BlackRock, hedge fund D.E. Shaw, and Wellington have joined; in technology, Nvidia (through its NVentures arm), Salesforce, and Deutsche Telekom are involved; the entertainment sector is particularly lively, with over 30 stars including Hollywood actor Jamie Foxx, actress Eva Longoria, and ‘Squid Game’ director Hwang Dong-hyuk making their first investments. Additionally, ElevenLabs has allowed retail investors to subscribe for shares through Robinhood Ventures for the first time. The company also completed a $100 million secondary stock sale, providing employees with a second cash-out opportunity within a year. The team currently consists of 530 members, distributed across more than 50 countries.