ElevenLabs Achieves $330M ARR in Just 24 Months, Outpacing Twilio
TL;DR
ElevenLabs Achieves $330M ARR Amidst Enterprise AI Voice Adoption
ElevenLabs, an AI voice-generation company, has surpassed $330 million in annual recurring revenue (ARR). CEO Mati Staniszewski noted the company's rapid growth in an interview with Bloomberg.
Revenue Growth Trajectory
Founded in 2022, ElevenLabs launched its first product in 2023. The company's ARR growth milestones include:
- 20 months to reach $100 million ARR.
- 10 months to reach $200 million ARR.
- 5 months to reach $330 million ARR.
This growth highlights "strong momentum" and "growing customer trust," according to Staniszewski.
Enterprise Adoption
ElevenLabs states that Fortune 500 companies and startups are adopting its voice agent technology. These voice agents use company data and knowledge bases to manage customer interactions. Enterprises have deployed ElevenLabs' technology to handle more than 50,000 calls per month. The company's Voice AI agents are being used across:
- Customer support
- Hiring screening & interviews
- Sales qualification & follow-ups
- Scheduling & appointment handling
- Debt collections & compliance-heavy calls
Funding and Valuation
In January 2025, ElevenLabs raised $180 million in Series C funding, co-led by Andreessen Horowitz and ICONIQ Growth, valuing the company at $3.3 billion. Months later, ICONIQ and Sequoia invested an additional $100 million, doubling the valuation.
Expansion into Music and Licensed Voices
ElevenLabs has expanded into music creation and secured licensing agreements with celebrities. Michael Caine and Matthew McConaughey have partnered with ElevenLabs to allow their voices to be used in AI-generated content.
Comparison with Twilio
ElevenLabs reached $330M ARR in approximately 24 months, while Twilio took about 8 years to reach the same milestone.
| Metric | ElevenLabs | Twilio |
|---|---|---|
| Founded | 2022 | 2008 |
| ARR/Revenue | $330M ARR | ~$5B annual revenue |
| Valuation | $6.6B (private) | ~$20B (public) |
| Growth Rate | ~265% YoY | 12-15% YoY |
| Customers | 41% of Fortune 500 | 392,000+ accounts |
ElevenLabs' funding trajectory:
- Jun 2023: $100M valuation (Series A led by a16z)
- Jan 2024: $1.1B valuation (Series B)
- Jan 2025: $3.3B valuation (Series C co-led by a16z + ICONIQ)
- Sep 2025: $6.6B valuation (Secondary round)
Twilio's Response
Twilio reported $1.3B quarterly revenue (15% YoY growth) and $235M non-GAAP operating income in Q3 2025. Voice AI customers grew 60% YoY at Twilio.
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