ElevenLabs sells software that turns text into spoken audio, dubs content and powers voice or chat agents for businesses. Sifted reported, citing Bloomberg, that the EU-backed Scaleup Europe Fund is in talks to invest in the London-based company as part of a financing that could raise more than $500 million.
The product line now spans three groups. ElevenCreative lets creators and brands generate, edit and localize audio, while ElevenAPI gives developers access to the company’s audio models. ElevenAgents combines speech recognition, a language model and speech generation so businesses can deploy interactive agents.
A company building a support agent can create it through a dashboard or API, supply documentation and frequently asked questions as its knowledge base, choose a voice, test conversations and then embed the assistant in a website or app. That workflow puts ElevenLabs inside customer operations rather than limiting it to one-off audio generation.
ElevenLabs charges self-service customers through subscriptions or metered usage, while larger organizations can negotiate enterprise plans. The meters follow the product: text-to-speech is billed by characters, speech-to-text by audio time and dubbing by source-audio minutes.
The timing puts the reported financing in context. ElevenLabs announced a $500 million Series D at an $11 billion valuation on February 4, 2026, and said it had ended 2025 with more than $330 million in annual recurring revenue. The company attributed that growth partly to enterprise adoption of ElevenAgents.
Sifted framed the fund’s potential stake as its first investment outside the European Union. Both pieces remain conditional: the fund is only in talks, and the round could raise more than $500 million rather than having closed at that amount.