Overview
ElevenLabs develops speech-synthesis, transcription and voice-cloning models and sells them through an API, a creator product and ElevenAgents, a platform for conversational voice agents. The company reported annual recurring revenue (ARR) of US$350 million at the end of 2025 and more than US$500 million within the first four months of 2026[18]. It raised US$500 million in a Series D at an US$11 billion valuation on 4 February 2026, and on 30 September 2026 announced a US$300 million employee tender offer, led by Wellington and T. Rowe Price, at a US$22 billion valuation[19]. Investors named in May 2026 include BlackRock, NVIDIA’s NVentures and Deutsche Telekom’s T.Capital[18]. Enterprise customers account for 55% of revenue and the company has more than 800 staff[19]. Voice cloning carries misuse risk, and competing speech models are offered by the largest labs.
ElevenLabs strengths and limitations
Strengths
- Wide plan range from a low-cost Starter to Business volumes
- Large language coverage on every plan
Limitations
- Credits are consumed per character, so long scripts use allowances quickly
- Enterprise terms are not published
Appears in
ElevenLabs alternatives and competitors
Alternatives to ElevenLabs: companies ranked in the same lists.
Murf AI
Figure AI
Lovable- WeRide
Veritone
Pony AI
WhiteFiber- MiniMax
- Recursion Pharmaceuticals
Rezolve AI
Nscale
Kodiak AI
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