ElevenLabs is a privately owned company headquartered in the US, founded in 2022 with approximately 40 employees. The company reported $3.4M in revenue as of 2023. Functioning as a generative AI software company, ElevenLabs specializes in developing natural-sounding speech synthesis and text-to-speech software, utilizing artificial intelligence and deep learning technologies.
On May 1, 2026, ElevenLabs emerged alongside Vapi as a competitor in the AI voice agent market, with both platforms frequently appearing on "top voice AI platforms" lists and engaging passionate developer communities. On the same day, ElevenLabs introduced real-time collaboration to ElevenCreative Flows, enabling multiple team members to simultaneously open, edit, and run the same Flow, complete with live cursor presence, inline commenting, and a follow mode for unified team building, reviewing, and approving. This followed the company's official launch of ElevenMusic on April 29, pitched as a service that connects listening, remixing, and original creation within a single system. The AI firm's expansion into music came after securing licensing deals with Kobalt and Merlin last August, a $500 million funding round, and the release of an AI-music album featuring Liza Minnelli and Art Garfunkel.
ElevenLabs's customers primarily consist of computer Games and ad measurement and verification companies. Examples of ElevenLabs's customers include MNTN, Magicave and Paradox Interactive. ElevenLabs has commercial and technical partners like Audacy, Pika Labs and Super Hi-Fi.
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