ElevenLabs Reaches $600 Million in Annual Recurring Revenue

ElevenLabs has reached $600 million in annual recurring revenue and is reportedly valued at $22 billion, according to TechCrunch. CEO Mati Staniszewski said enterprise customers account for more than 55% of revenue, while smaller businesses, developers and creators contribute much of the remainder.

Staniszewski said businesses should currently disclose when customers are speaking with an AI agent. He expects that expectation to change as personal AI agents become more common, but said customers should now receive a choice between an agent and a human representative.

ElevenLabs may accept lower gross margins to reduce customer costs and expand usage. Staniszewski did not confirm reports of a possible 2028 initial public offering, saying the company is preparing for that option but that the timing will depend on market conditions.