ElevenLabs hits $600M in ARR and draws reported $22B valuation

The voice AI provider’s mix of big enterprises and creators shows how synthetic agents are moving into mainstream customer support and media work.

Voice AI company ElevenLabs says it has reached about $600 million in annual recurring revenue and is reportedly being valued by investors at around $22 billion just four years after founding. Its text-to-speech models sit behind large-scale customer support operations for enterprises such as Klarna, Deutsche Telekom, Cisco and Adobe, as well as several government deployments. Roughly 55% of revenue now comes from traditional enterprise customers, with most of the rest attributed to SMBs, developers and other creators using the platform for content like audiobooks and dubbing. CEO Mati Staniszewski says that for high-stakes use cases like financial services, customers still favor frontier reasoning models over open-weight alternatives, while lower-risk informational calls can run on open-source models. He also argues businesses should currently disclose when callers are speaking with an AI agent, even though he expects that norm to change as AI agents become ubiquitous.