Funding round
ElevenLabs Series C
ElevenLabs, which works in AI audio technology development in London, raised $180M in a Series C round announced on 30 Jan 2025, led by Andreessen Horowitz and ICONIQ Growth, at a $3.30B post-money valuation. 19 firms took part, 7 of them already investors. It is ElevenLabs' fourth venture round on record; the one before was a Series B in Jan 2024.
$180M
Amount raised
$3.30B
Post-money valuation
$3.12B pre-money
19
Investors
2 leads
3.0x
Step-up from the Series B
$1.10B in Jan 2024
5.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced ElevenLabs at $3.30B after the new money, 3.0 times the $1.10B of its Series B (Jan 2024). The $180M bought investors about 5.5% of the company. It came 12 months after ElevenLabs' Series B. It is 17% of the $1.08B ElevenLabs has raised in the venture rounds on record. ElevenLabs raised again 13 months later: a Series D round of $500M in Feb 2026, at $11.00B post-money.
ElevenLabs' funding rounds
ElevenLabs has 6 venture rounds on record. This one is highlighted.
- Pre-seed 23 Jan 2023, led by Credo Ventures $2.0M
- Series A 20 Jun 2023, led by Andreessen Horowitz, Nat Friedman and Daniel Gross $19M
- Series B 22 Jan 2024, led by Andreessen Horowitz, Nat Friedman and Daniel Gross $80M$1.10B post-money
- Series C this round 30 Jan 2025, led by Andreessen Horowitz and ICONIQ Growth $180M$3.30B post-money
- Series D 4 Feb 2026, led by Sequoia Capital $500M$11.00B post-money
- Growth 30 Sep 2026, led by Wellington Management and T. Rowe Price $300M$22.00B post-money
Investors
Who put money in
Andreessen Horowitz and ICONIQ Growth led the round with 17 other firms. Andreessen Horowitz, Sequoia Capital, Salesforce Ventures and Smash Capital and 3 more had backed ElevenLabs before.
Lead investors
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- ICONIQ Growth new investor
Also in the round
- New Enterprise Associates backs 286 venture-backed companies new investor
- backs 46 venture-backed companies new investor
- Valor backs 143 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- backs 5 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Salesforce Ventures backs 314 venture-backed companies existing investor
- Smash Capital existing investor
- SV Angel backs 293 venture-backed companies existing investor
- NFDG existing investor
- backs 5 venture-backed companies existing investor
- backs 25 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- HubSpot Ventures new investor
- backs 45 venture-backed companies new investor
- RingCentral Ventures new investor
- backs 15 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
264 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $55M, and this round was 3.3 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Truveta Tech Companies | 13 Jan 2025 | $320M | $1.00B | not named |
| Tech Companies | 1 Jan 2025 | $70M | not disclosed | Avra |
| Tech Companies | 21 Jan 2025 | $69M | not disclosed | Decarbonization Partners |
| Tech Companies | 22 Jan 2025 | $60M | not disclosed | Greenfield Partners |
| Tech Companies | 30 Jan 2025 | $60M | $525M | Transformation Capital |
| Tech Companies | 3 Jan 2025 | $55M | $500M | not named |
| Tech Companies | 22 Jan 2025 | $50M | not disclosed | Lakestar |
| Tech Companies | 28 Jan 2025 | $45M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did ElevenLabs raise in its Series C round?
ElevenLabs raised $180M in its Series C round, announced in Jan 2025.
Who led ElevenLabs' Series C round?
Andreessen Horowitz and ICONIQ Growth led it, with New Enterprise Associates, World Innovation Lab, Valor, Endeavor and Lunate and 12 more.
What was ElevenLabs' valuation at the Series C round?
$3.30B post-money ($3.12B pre-money).
How does it compare with other Series C rounds in Tech Companies?
264 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $55M, and this round was 3.3 times the median.
Did ElevenLabs raise again after this round?
Yes: a Series D round in Feb 2026 of $500M at $11.00B post-money.