Funding round
ElevenLabs Series D
ElevenLabs, which works in AI audio technology development in London, raised $500M in a Series D round announced on 4 Feb 2026, led by Sequoia Capital, at a $11.00B post-money valuation. 12 firms took part, 8 of them already investors. It is ElevenLabs' fifth venture round on record; the one before was a Series C in Jan 2025.
$500M
Amount raised
$11.00B
Post-money valuation
$10.50B pre-money
12
Investors
1 lead
3.3x
Step-up from the Series C
$3.30B in Jan 2025
4.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced ElevenLabs at $11.00B after the new money, 3.3 times the $3.30B of its Series C (Jan 2025). The $500M bought investors about 4.5% of the company. It came 13 months after ElevenLabs' Series C. It is 46% of the $1.08B ElevenLabs has raised in the venture rounds on record. ElevenLabs raised again 7 months later: a Growth round of $300M in Sep 2026, at $22.00B 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 30 Jan 2025, led by Andreessen Horowitz and ICONIQ Growth $180M$3.30B post-money
- Series D this round 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
Sequoia Capital led the round with 11 other firms. Sequoia Capital, Andreessen Horowitz, ICONIQ and BroadLight Capital and 4 more had backed ElevenLabs before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies existing investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- ICONIQ existing investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Evantic Capital new investor
- BOND backs 91 venture-backed companies new investor
- backs 5 venture-backed companies existing investor
- NFDG existing investor
- backs 74 venture-backed companies existing investor
- AMP Coalition existing investor
- Smash Capital existing investor
- New Enterprise Associates backs 286 venture-backed companies new investor
Joined the board: Andrew Reed (Sequoia Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
92 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $102M, and this round was 4.9 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Temporal Tech Companies | 17 Feb 2026 | $300M | $5.00B | Andreessen Horowitz |
| Tech Companies | 13 Feb 2026 | $90M | $1.10B | Technology Crossover Ventures |
| Legora Tech Companies | 10 Mar 2026 | $550M | $5.55B | Accel |
| ClickHouse Tech Companies | 16 Jan 2026 | $400M | $15.00B | Dragoneer Investment Group |
| Parloa Tech Companies | 15 Jan 2026 | $350M | $3.00B | General Catalyst |
| Tech Companies | 13 Jan 2026 | $200M | $2.15B | Battery Ventures and Sapphire Ventures |
| Tech Companies | 11 Jan 2026 | $140M | $1.20B | Merlin Ventures |
| Tech Companies | 13 Jan 2026 | $120M | $1.30B | Mitsubishi Electric |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did ElevenLabs raise in its Series D round?
ElevenLabs raised $500M in its Series D round, announced in Feb 2026.
Who led ElevenLabs' Series D round?
Sequoia Capital led it, with Andreessen Horowitz, ICONIQ, Lightspeed Venture Partners, Evantic Capital and BOND and 6 more.
What was ElevenLabs' valuation at the Series D round?
$11.00B post-money ($10.50B pre-money).
How does it compare with other Series D rounds in Tech Companies?
92 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $102M, and this round was 4.9 times the median.
Did ElevenLabs raise again after this round?
Yes: a Growth round in Sep 2026 of $300M at $22.00B post-money.