Voice AI research and deployment company ElevenLabs has reached US$330 million in annual recurring revenue (ARR) in 2025, a significant milestone that underscores the rapid enterprise adoption of AI-powered audio technologies. The announcement was made by CEO Mati Staniszewski in a recent interview.
An Unprecedented Growth Trajectory
Founded in 2022, ElevenLabs has demonstrated an exponential growth curve since launching its first product in 2023. This rapid scaling highlights a strong market demand for high-quality AI voice generation and automation tools.
“It took us 20 months to reach $100 million in ARR, 10 months to reach $200 million, and five months to reach the current number,” Staniszewski shared, illustrating the accelerating pace of the company’s expansion.
Powering Enterprise Adoption
The surge in revenue is largely driven by the adoption of its voice agent technology by both Fortune 500 corporations and emerging startups. These clients utilize ElevenLabs’ platform, which integrates with company data and knowledge bases, to power advanced customer support and enhance customer experience interactions.
The company noted that its enterprise clients are already deploying the technology at scale, with some handling over 50,000 calls per month through the AI-powered platform.
Investor Confidence and Soaring Valuation
Investor enthusiasm for ElevenLabs’ market position and technology remains high. In January 2025, the company secured a US$180 million Series C funding round, co-led by Andreessen Horowitz (a16z) and ICONIQ Growth, which placed its valuation at US$3.3 billion.
Months later, its valuation effectively doubled after ICONIQ and early investor Sequoia acquired an additional US$100 million in employee shares, signaling strong secondary market confidence.
Relevance for the MENA Tech Ecosystem
The explosive growth of ElevenLabs serves as a powerful indicator for the MENA region’s burgeoning tech scene. As businesses across the GCC and North Africa increasingly prioritize digital transformation and customer experience, the demand for sophisticated AI solutions is set to rise. The success of AI voice agents in global markets presents a significant opportunity for MENA startups and enterprises to automate multilingual customer support, particularly in both Arabic and English. This trend also signals to regional VCs the immense potential within the AI-native vertical, likely spurring further investment into local and international companies that can cater to the region’s unique linguistic and business needs.
About ElevenLabs
ElevenLabs is a voice technology research company developing advanced AI software for text-to-speech and voice generation. Founded in 2022, the company provides tools for creators, enterprises, and startups to generate realistic and contextually aware audio for a wide range of applications, including customer support agents, content creation, and entertainment.
Source: Tech in Asia
