ElevenLabs Crosses $500M ARR as BlackRock, NVIDIA Back Series D Extension

ElevenLabs added institutional asset managers, telecom operators, and enterprise partners to its cap table as demand for conversational AI tools accelerates across customer support, sales, and marketing.

ElevenLabs said its annual recurring revenue crossed $500 million in the first four months of 2026, up from $350 million at the close of 2025, as the company disclosed a third close of its Series D funding round with new investors including BlackRock, Wellington Management, NVIDIA via NVentures, and Santander. 

The company did not disclose the size of the latest tranche. The round’s first close, completed in February 2026, raised $500 million at an $11 billion valuation. 

New institutional backers also include D.E. Shaw and Schroders. Several existing enterprise customers have converted to investors, among them Salesforce, KPN, and Deutsche Telekom, whose strategic investment arm T. Capital participated in the round. 

The move comes as enterprises accelerate deployment of voice agents across customer support, sales, hiring, and marketing operations, the company said in a blog post authored by co-founder Mati Staniszewski.

We believe natural, human-like communication will be critical for the broad adoption of AI. As AI becomes more intelligent, communication will start to become the limiting factor. 
Mati Staniszewski, Co-founder, ElevenLabs

Wellington Management’s Rob Mazzoni, Technology Sector Lead for Late-Stage Growth, said in a statement accompanying the announcement that conversational agents will become the primary channel for businesses to interact with customers at scale. 

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Deutsche Telekom has deployed ElevenLabs’ platform for customer support agents, real-time translation during live phone calls, and marketing video production. Karine Peters, Managing Director at T.Capital, said in the same announcement that ElevenLabs is becoming “a foundational enabler” of Deutsche Telekom’s broader enterprise AI strategy, citing voice quality, latency, and security as the factors that cleared the bar for deployment at scale. 

Separately, more than 30 actors, musicians, athletes, and entertainment executives joined the round for the first time. Jamie Foxx, Eva Longoria, and Squid Game creator Hwang Dong-hyuk are among them, alongside existing investor Matthew McConaughey. ElevenLabs also said retail investors can participate through Robinhood Ventures. 

That follows a $100 million tender offer, the company said it closed in conjunction with the Series D extension, the second such transaction it has completed in under a year. The offer allowed existing shareholders to liquidate a portion of their holdings. 

ElevenLabs said it plans to direct the new capital toward international expansion, the development of AI agents that operate across voice, chat, and email, and the integration of image and video generation into its creative tools platform. The company employs 530 people across more than 50 countries. The company has not disclosed any plans for an initial public offering or a timeline for one.

Disclaimer: This news is based on publicly available information. NervNow has not independently verified any claims.

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