ElevenLabs in talks to raise over $500M in new funding round

ElevenLabs, the AI voice synthesis startup, is pursuing a funding round north of $500 million. The company is reportedly in discussions with the Scaleup Europe Fund, a €5 billion vehicle managed by EQT, for the fresh capital injection. A fundraising machine in overdrive ElevenLabs already closed a $500 million Series D round on February 4, 2026, led by Sequoia Capital. That round valued the company at $11 billion post-money, a dramatic leap from the $3.3 billion valuation it carried after its Series C in January 2025. Andreessen Horowitz and ICONIQ, both existing backers, participated alongside new investors Lightspeed Venture Partners and Evantic Capital. In total, ElevenLabs has raised $781 million since its founding in 2022. The new discussions with the Scaleup Europe Fund haven’t been finalized, but the target, over $500 million, signals another valuation jump that could push it well past the $11 billion mark. Founded by Mati Staniszewski, a former Palantir executive, and Piotr Dąbkowski, formerly of Google, ElevenLabs was founded in London and New York in 2022. Revenue growth backing the hype ElevenLabs reported over $330 million in annual recurring revenue by the end of 2025....