Investment Rationale · Lightspeed Venture Partners
Why the firm invested
Lightspeed invested due to ElevenLabs' category leadership, powerful models, multi-product execution, exceptional finances, and ambitious team.
ElevenLabs has built a clear category leader—with powerful models, demonstrated multi-product execution, an exceptional financial profile, and a founding team that has the ambition and attributes to build a generational company.
Traction
ElevenLabs ended 2025 at over $300 million in ARR with one of the strongest financial profiles for a company at its scale.
They ended 2025 at $300M+ in ARR and have one of the strongest financial profiles we have seen for a business of this scale.
Revolut deployed ElevenLabs Agents to support over 4 million customers across Europe and the UK.
Revolut deployed ElevenLabs Agents to enhance customer support across the UK and Europe, scaling coverage to more than 4 million of its 70 million global customers.
Team
ElevenLabs was founded in 2022 by Mati Staniszewski and Piotr Dabkowski.
Founded in 2022 by Mati Staniszewski and Piotr Dabkowski, ElevenLabs began by developing a truly human-like AI text-to-speech model.
ElevenLabs has hired a team hailing from Google, Meta, and other top technology companies.
And they’ve built a team that hails from Google, Meta, and other top companies, bringing both technical depth and enterprise experience to a market that’s evolving fast.
Investment context
Lightspeed announced its investment in ElevenLabs' Series D funding round.
We’re thrilled to announce our investment in ElevenLabs’ Series D.
What founders can learn
- What actually moved the decision: Lightspeed Venture Partners wrote that Lightspeed invested due to ElevenLabs' category leadership, powerful models, multi-product execution, exceptional finances, and ambitious team.
- The traction evidence that carried weight: Lightspeed Venture Partners wrote that ElevenLabs ended 2025 at over $300 million in ARR with one of the strongest financial profiles for a company at its scale.
- How the team was judged: Lightspeed Venture Partners wrote that ElevenLabs was founded in 2022 by Mati Staniszewski and Piotr Dabkowski.
Source and provenance
Investment Rationale published by Lightspeed Venture Partners on lsvp.com (first-party source). Read the original
