Hold onto your seats, because UK tech just witnessed a seismic shift in the artificial intelligence landscape. ElevenLabs, the London-born powerhouse behind cutting-edge AI voice technology, has clinched €424 million in a blockbuster Series D funding round that has reverberated through Europe’s startup ecosystem. This represents a fundamental shift in late-stage capital flow in AI and proves that London remains the undisputed centre of AI innovation globally.
The new funding values ElevenLabs at €9.3 billion (£7.9 billion), a threefold increase from twelve months prior, following the €180 million Series C round in 2025. Led by Sequoia Capital with participation from Andreessen Horowitz, ICONIQ, and Lightspeed Venture Partners, the total capital raised now stands at €662 million across five rounds since 2022.
For founders, investors, and creators in the UK startup ecosystem, this ElevenLabs funding signals that London-based AI companies can scale to unicorn status with valuations rivaling Silicon Valley.
What Makes ElevenLabs’ Funding Historic
- ElevenLabs raised €424 million, securing a €9.3 billion valuation.
- The deal captured 68% of Europe’s late-stage AI funding in early 2026.
- Europe’s average AI funding round in 2026 is €9.8 million, making ElevenLabs’ round 42 times larger.
- Sequoia Capital led the round; Andreessen Horowitz, ICONIQ, Lightspeed Venture Partners, Evantic Capital, and BOND also participated.
This makes ElevenLabs’ Series D the largest UK AI investment of 2026, a historic milestone for European AI startups.
Understanding the Fundraising Journey
Founded in 2022 by Mati Staniszewski and Piotr Dabkowski, ElevenLabs started with human-like text-to-speech technology and has expanded to a full audio technology stack, including speech-to-text, music generation, professional dubbing, sound effects, and conversational AI agents.
Funding Timeline:
- 2023 (Series A): €17.3 million
- 2024 (Series B): €73 million
- 2025 (Series C): $180 million
- 2026 (Series D): €424 million
Each round reflects accelerating investor confidence, product-market fit, and global adoption.
Products Driving Enterprise Adoption
ElevenLabs Platforms:
- ElevenAgents: Enterprise-grade voice and chat agents for customer operations. Clients include Deutsche Telekom, Square, Revolut, and the Ukrainian Government.
- ElevenCreative: Audio generation and localisation across 77 languages. Used by Duolingo, NVIDIA, TIME magazine, and more.
- ElevenAPI: Low-latency developer infrastructure powering interactive applications for Meta, Epic Games, Salesforce, MasterClass, and Harvey.
These products demonstrate why ElevenLabs is more than a point solution it’s foundational infrastructure for the audio-first internet.
Statistical Breakdown – UK vs European Context
| Metric | ElevenLabs | Europe Average | Difference |
|---|---|---|---|
| Deal Size | €424M | €9.8M | 4200% |
| Company Valuation | €9.3B | €187M | 4974% |
| Year-on-Year Valuation Growth | 3x | 1.4x | 214% |
| Late-Stage Capital Share | 68% | N/A | N/A |
| Total Funding Raised | €662M | €28M | 2364% |
| Monthly Users | 1B+ | 12M | 8233% |
ElevenLabs’ €424 million deal dwarfs typical European AI raises and dominates UK late-stage AI capital.
Investor Confidence and Strategic Direction
Key investors: Sequoia Capital, Andreessen Horowitz, ICONIQ, Lightspeed Venture Partners, Evantic Capital, and BOND.
Board Insight:
- Andrew Reed (Sequoia Capital): “Mati and Piotr are exceptional founders and leaders… ElevenLabs is changing how people communicate with technology.”
- Piotr Dabkowski: “We are building foundational models across the full audio stack.”
- Mati Staniszewski: “This funding helps us go beyond voice to transform interaction with technology.”
Funds will accelerate R&D, global expansion, and enterprise adoption of ElevenAgents and ElevenCreative.
FAQs – ElevenLabs Funding
1. Why is ElevenLabs’ €424M Series D funding significant?
It is Europe’s largest AI funding event in 2026, tripling ElevenLabs’ valuation to €9.3B.
2. Who were the key investors?
Sequoia Capital led, with Andreessen Horowitz, ICONIQ, Lightspeed, Evantic Capital, BOND, BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital participating.
3. What products does ElevenLabs offer?
ElevenAgents (enterprise voice/chat), ElevenCreative (creator audio tools), ElevenAPI (developer infrastructure).
4. Which global brands use ElevenLabs?
Meta, Epic Games, Salesforce, Deutsche Telekom, Revolut, Duolingo, NVIDIA, TIME magazine, MasterClass, Harvey, Square, and the Ukrainian Government.
5. How does this funding impact the UK tech ecosystem?
Strengthens London as Europe’s AI hub, attracts investors, and proves UK startups can reach unicorn valuations.
6. How does ElevenLabs compare to other European AI startups?
Series D deal is 42x Europe’s average AI funding, capturing 68% of late-stage UK AI capital.
7. When was ElevenLabs founded?
In 2022, originally focusing on human-like text-to-speech.
8. What is the company’s long-term plan?
Expand R&D, integrate creative-video AI, grow agentic AI services, and accelerate global adoption.
9. How does ElevenLabs empower creators?
Creators can generate high-quality audio in 77 languages, enabling global reach with enterprise-grade tools.
10. What does this success signal to investors?
London is a compelling AI investment hub with potential for billion-user platforms and IPO-level returns.
London’s Golden Era in Artificial Intelligence
- 73% of UK VC funding in 2026 flows into AI.
- 15 AI unicorns created in the UK since 2025.
- London commands more late-stage AI capital than Berlin, Paris, and other European hubs combined.
Factors driving London dominance:
- Deep AI talent pool from universities and tech companies.
- Sophisticated venture capital infrastructure.
- Regulatory clarity for AI innovation.
- Strong global and Silicon Valley connections.
What This Means for UK Founders and Creators
- Founders: Growth-stage capital is available; London is the place to scale category-defining AI platforms.
- Creators: ElevenCreative enables enterprise-quality global audio production.
- Enterprises: ElevenAgents automates customer support, reduces costs, and enhances training.
- Tech Professionals: Significant hiring momentum for software, product, operations, and AI research roles.
ElevenLabs’ €424 million Series D funding is a historic milestone, demonstrating that London’s AI ecosystem has reached escape velocity. From 2022 voice cloning startup to €9.3B AI unicorn in four years, ElevenLabs exemplifies what’s possible when visionary founders, breakthrough tech, and patient capital align.source
For UK tech entrepreneurs: the infrastructure is in place, the capital is available, and global markets are hungry for AI solutions. The revolution is happening London is now a global AI capital.
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