Editorial illustration for ElevenLabs Rockets to USD 200M ARR, Sets Sights on USD 300M by January
ElevenLabs Hits $200M ARR, Targets $300M in Rapid AI Surge
ElevenLabs adds USD 14 M ARR in one day, hits USD 200 M in August, eyes USD 300 M by Jan
AI voice synthesis startup ElevenLabs is experiencing startup rocket fuel that most founders only dream about. The company has transformed from a nascent technology project to a serious revenue generator in just months, catching the attention of tech investors and industry watchers.
Founded on the promise of hyper-realistic AI voice generation, ElevenLabs has been quietly building momentum since its public launch in January 2023. But "quiet" might be the wrong word - the startup's growth trajectory looks more like a vertical line than a gradual climb.
Just how fast are they moving? The company hit a stunning $100 million in annual recurring revenue by October, then promptly added another $100 million in less than a year. Now, with ambitious targets that would make most startups blush, ElevenLabs is setting its sights on an eye-popping $300 million milestone.
Cofounders Staniszewski and team aren't just talking about growth. They're executing a playbook that suggests AI voice technology isn't just a novelty - it's becoming a serious enterprise solution.
Staniszewski stated that in August, the company crossed $200 million in ARR, and by next January, it aims for $300 million in ARR. ElevenLabs' products were launched publicly only in January 2023, and in October 2024, the company crossed $100 million in ARR. In September, the company enabled an employee secondary share sale, pricing some shares at $6.6 billion.
It has raised a total of $291 million across six funding rounds, according to data from Tracxn. In January this year, the company raised $180M in Series C funding led by a16z and ICONIQ Growth. ElevenLabs offers text-to-speech, speech-to-speech, voice-cloning, and dubbing tools built on its own foundation audio models, including its core speech synthesis model and its multilingual voice model.
ElevenLabs is sprinting at an extraordinary pace in the AI voice technology market. The startup's rapid growth trajectory is nothing short of remarkable, with annual recurring revenue (ARR) jumping from $100 million in October to $200 million by August.
Founder Staniszewski's ambitious target of reaching $300 million ARR by January seems potentially achievable, given the company's current momentum. Just months after publicly launching in January 2023, ElevenLabs has already secured significant investor confidence.
The company's financial backing underscores its potential, having raised $291 million across six funding rounds. Its September employee share sale, which valued some shares at $6.6 billion, signals strong internal belief in the startup's future.
Still, the AI voice technology market remains unpredictable. ElevenLabs' aggressive growth will depend on maintaining product quality and market demand. But for now, the startup appears positioned to continue its impressive expansion.
The next few months will be critical in determining whether ElevenLabs can hit its aggressive $300 million ARR target. Investors and industry watchers will be watching closely.
Further Reading
- ElevenLabs Hits $200M ARR, Doubles Valuation to $6.6B in Secondary Round - Product Market Fit
- ElevenLabs: From $0 to $300M ARR in 3 Years. Why The Best AI B2B Apps Are Exploding - SaaStr
- ElevenLabs Doubles Valuation to $6.6 Billion via $100 Million Secondary Share Sale - MLQ.ai
- How ElevenLabs Grew From $0 to $200M ARR in 2 Years - Deep Dive into ElevenLabs Careers - Underdog.io
- ElevenLabs Statistics By Revenue, Insights and Facts (2025) - ElectroIQ
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Common Questions Answered
How quickly has ElevenLabs grown its annual recurring revenue (ARR) in 2023?
ElevenLabs experienced remarkable revenue growth, jumping from $100 million in October to $200 million by August. The company aims to reach $300 million in ARR by January 2024, demonstrating an extraordinary acceleration in their business performance.
What is the current valuation of ElevenLabs according to their recent share sale?
In September, ElevenLabs enabled an employee secondary share sale that priced some shares at $6.6 billion. The company has raised a total of $291 million across six funding rounds, indicating strong investor confidence in their AI voice technology.
When did ElevenLabs publicly launch its AI voice synthesis technology?
ElevenLabs publicly launched its AI voice generation technology in January 2023. Since then, the startup has rapidly transformed from a nascent technology project to a serious revenue generator, catching the attention of tech investors and industry watchers.