AI voice company ElevenLabs has crossed the $500 million mark in annual recurring revenue, the company announced in 2026. The milestone comes as the startup draws investment from major names including BlackRock, NVIDIA, and actor Jamie Foxx.
Investors behind the milestone
BlackRock, the world's largest asset manager, and NVIDIA, the chipmaker fueling the AI boom, are among the backers. Celebrity investor Jamie Foxx also joined the round. The mix of institutional and star power signals broad confidence in ElevenLabs' technology and market position.
ElevenLabs specializes in synthetic voice generation, used by content creators, publishers, and enterprises. Its tools can clone voices or generate speech from text in multiple languages. The company has been growing fast since its founding in 2022, and the $500M ARR figure puts it among the fastest-growing AI startups.
Why the investors came in
Voice AI is a crowded field, but ElevenLabs has carved out a lead on quality and ease of use. BlackRock typically invests in large, stable companies — its participation suggests ElevenLabs is seen as a long-term bet. NVIDIA's investment is strategic: the company's chips are used to train ElevenLabs' models, and the two already have a partnership.
Jamie Foxx's involvement adds a Hollywood touch. The actor and singer has used AI voice tools in his own work, and his investment may open doors in entertainment. ElevenLabs has not disclosed the size of the round or the valuation.
Growth trajectory
Reaching $500M ARR in 2026 means ElevenLabs roughly doubled its revenue from the previous year, according to people familiar with the matter. The company does not break out quarterly figures, but the pace is notable in a market where many AI startups struggle to convert hype into recurring revenue.
ElevenLabs makes money through subscriptions and enterprise licensing. Its clients include media companies, game developers, and customer service platforms. The company has also introduced features like real-time voice cloning and multilingual dubbing, which have driven adoption outside the US.
ElevenLabs has not said how it will use the new capital. The company may expand its engineering team, invest in research, or push into new verticals like healthcare or education. With BlackRock and NVIDIA on the cap table, the pressure to deliver sustained growth will be high. No timeline has been given for the next funding round or a potential IPO.
