ElevenLabs Adds $14 Million in ARR in a Single Day

ElevenLabs, the voice-AI startup, claimed that it has added $14 million in Annual Recurring Revenue (ARR) in a single day. 

Mati Staniszewski, the co-founder, announced it in a post on X. “It was our first day crossing $10M, and it’s crazy to see how much has changed since the early days and our very first deal,” he said. 

By definition, ARR reflects the revenue a company is contractually guaranteed to receive over the next 12 months. This includes only customers who have committed to annual or longer-term agreements, and the total ARR figure represents the sum of all such active contracts.

Staniszewski stated that in August, the company crossed $200 million in ARR, and by next January, it aims for $300 million in ARR. ElevenLabs’ products were launched publicly only in January 2023, and in October 2024, the company crossed $100 million in ARR. 

In September, the company enabled an employee secondary share sale, pricing some shares at $6.6 billion. It has raised a total of $291 million across six funding rounds, according to data from Tracxn. In January this year, the company raised $180M in Series C funding led by a16z and ICONIQ Growth. 

ElevenLabs offers text-to-speech, speech-to-speech, voice-cloning, and dubbing tools built on its own foundation audio models, including its core speech synthesis model and its multilingual voice model.

Last month, the company launched Scribe v2 Realtime, its most advanced Speech-to-Text model designed to deliver human-quality live transcription in under 150 milliseconds. 

The model supports more than 90 languages, including 11 Indian ones such as Hindi, Tamil, Malayalam, Kannada, Telugu, and Gujarati. The company said the model achieves 93.5% accuracy on the FLEURS benchmark across 30 European and Asian languages, setting a new standard for real-time multilingual communication. 

Scribe v2 Realtime is aimed at developers and enterprises building voice assistants, meeting tools, and live captioning applications.

While the company has established itself as one of the leading players in the ecosystem, it continues to face competition from other players, including Deepgram, Smallest.ai, Murf.ai, and others.