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ElevenLabs annual revenue reaches $500 million in 4 months: Investors line up from BlackRock to the director of "Squid Game"
According to Beating Monitoring, AI voice startup ElevenLabs announced that its ARR (Annual Recurring Revenue, calculated based on current subscription income) has surpassed $500 million. At the end of last year, this figure was $350 million, increasing by 43% in four months, mainly driven by enterprise clients extensively using AI voice agents for customer service, sales, and recruitment.
Along with business acceleration, ElevenLabs completed its third closing of Series D funding. Investors span three sectors: on the finance side, the world’s largest asset management company BlackRock, hedge funds D.E. Shaw and Wellington; on the tech side, NVIDIA (through its NVentures), Salesforce, and Deutsche Telekom; on the entertainment side, more lively, with Hollywood stars Jamie Foxx, Eva Longoria, and director Hwang Dong-hyuk of “Squid Game” among over 30 celebrities participating for the first time. ElevenLabs also enabled retail investors to subscribe to shares for the first time through Robinhood Ventures.
The company also completed a $100 million secondary share transfer, giving employees a second opportunity to cash out within less than a year. Currently, the team has 530 members distributed across more than 50 countries.