ElevenLabs Hits $22 Billion Valuation as ARR Reaches $600 Million
Updated
Updated · TechCrunch · Sep 24
ElevenLabs Hits $22 Billion Valuation as ARR Reaches $600 Million
3 articles · Updated · TechCrunch · Sep 24
Summary
$22 billion is the reported valuation ElevenLabs' backers now assign the four-year-old AI voice company, which says it is running at $600 million in annual recurring revenue.
55% of that business now comes from classic enterprise customers, with deployments spanning Klarna's first-line phone support for 35 million U.S. customers as well as Deutsche Telekom, Cisco, Adobe and government clients.
CEO Mati Staniszewski said the company is willing to accept lower gross margins to expand market share, even as customers such as Decagon increasingly build competing voice products on top of ElevenLabs.
Staniszewski said businesses should currently disclose when customers are speaking to AI agents, while arguing the industry is still years away from voice systems that can fully pass a conversational Turing test.