That’s according to a report Sunday (Jan. 18) from the Financial Times (FT), which says that figure would nearly double the voice artificial intelligence (AI) company’s valuation and make it the most valuable AI startup in the U.K.
The firm hopes to raise hundreds of millions of dollars from investors, FT added, citing sources familiar with the matter. The discussions come just four months after ElevenLabs held a secondary share sale, which valued it at $6.6 billion.
Founded in London in 2022 by Polish entrepreneurs Mati Staniszewski and Piotr Dabkowski, ElevenLab employs AI to generate realistic voices, and has been used in fields such as customer service, text-to-speech applications and language dubbing.
According to FT, the company has expanded quickly and last year generated $330 million in annual recurring revenue.
This new funding round would make it not only the most valuable AI startup in England but one of Europe’s most valuable AI startups, the report added. The $11 billion figure would put it in the company of French AI firm Mistral, valued at nearly $12 billion last year.
Staniszewski, ElevenLabs’ CEO, told CNBC last year that the company plans to add more hubs around the world before considering an initial public offering (IPO).
“We expect to build more hubs in Europe, Asia and South America, and just keep scaling,” Staniszewski said, adding that ElevenLabs also plans to launch an IPO within the next five years, “if the market is right.”
Writing about voice AI earlier this month, PYMNTS CEO Karen Webster said that this will be the year in which the technology will finally “pull agentic commerce onto the mobile phone” by transforming complicated, desktop-only “go do this for me” prompts into natural, spoken conversations consumers can have at any place.
“The platforms that win in 2026 will be those that embed capable voice agents deeply into devices, apps, and operating systems, not just those that bolt AI onto legacy assistants,” Webster added.
Under this system, users can go from spending hours searching, clicking and comparing multiple sites and options to verbally telling their favorite agent what to do in painstaking detail.
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