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ElevenLabs Raises $500M At $11B Valuation, Considers IPO

by THEFUTURE.TEAM

February 5, 2026

Funding Milestone And Strategic Partnerships

London-based AI startup ElevenLabs announced a significant funding round, securing $500 million at an $11 billion valuation. The round was led by Sequoia Capital and saw strong participation from established investors, including Andreessen Horowitz and Iconiq Capital. New backers such as Lightspeed Venture Partners, Evantic Capital, and Bond also joined the round, underscoring the robust investor confidence in the company’s disruptive AI technology.

Innovative Growth And Enterprise Adoption

Founded in 2022, ElevenLabs initially gained recognition for its advanced text-to-speech models before expanding its portfolio to incorporate speech-to-text, sound effects, dubbing, music, and conversational AI. Its cutting-edge products empower enterprises to deploy voice and chat agents and offer brands and creators a platform to generate and localize audio content. Industry giants, including Nvidia, Meta, and Salesforce, leverage ElevenLabs’ voice infrastructure to innovate their offerings.

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Scaling Globally And Preparing For An Ipo

ElevenLabs closed 2025 with an impressive $330 million in annual recurring revenue, driven by enterprise adoption from clients such as Deutsche Telekom and Revolut. Cofounder Mati Staniszewski remarked, “This funding helps us go beyond voice alone to transform how we interact with technology altogether,” hinting at the company’s broader plans. With offices spanning Europe, Brazil, Mexico, India, South Korea, Japan, and the United States, the firm is well-positioned for international expansion while gearing up for a potential IPO.

AI Startup Funding At Record Levels

The surge in investment in the AI sector is not isolated. In 2025, European AI startups raised a record €21.6 billion, with notable rounds including French model builder Mistral’s €1.7 billion raise and UK-based Nscale’s $1.1 billion funding. Additionally, landmark rounds for companies like German defence tech Helsing and UK avatar developer Synthesia further illustrate the market’s escalating confidence. In the United States, investors pumped $164.6 billion into AI companies. Major funding rounds for OpenAI, Anthropic, and xAI drove much of this growth, alongside reports that Amazon could invest up to $50 billion in OpenAI.

As AI continues to redefine the technological landscape, ElevenLabs’ latest funding round not only marks a significant milestone for the company but also highlights the broader industry’s momentum towards transformative, next-generation AI applications.

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Cyprus Unemployment Trends: 7.6% Annual Increase Reflects Sectoral Shifts

Overview Of The Labor Market

According to the latest figures released by the Cyprus Statistical Service (Cystat), registered unemployment in Cyprus increased by 7.6% year-on-year in May 2026. While the overall number of registered unemployed declined compared with April, the annual comparison showed an increase from May 2025.

By The Numbers

The total number of registered unemployed persons at district labour offices stood at 7,936 on May 31, down from 8,962 in April. Compared with May 2025, however, the number increased by 558, rising from 7,378 to 7,936. Seasonally adjusted unemployment fell slightly to 10,476 in May from 10,516 in April. Previous monthly figures stood at 10,257 in March, 10,085 in February and 10,089 in January.

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Sectoral Influences And Analysis

Accommodation and food service activities recorded one of the largest annual increases in registered unemployment. The number rose to 1,177 in May 2026 from 934 in May 2025, although it declined from 1,986 in April. Administrative and support service activities also recorded an annual increase, rising to 431 from 337 during the same period. Every month, the figure fell from 519 in April.

Transportation and storage recorded 323 registered unemployed persons, compared with 264 a year earlier and 453 in April. Professional, scientific and technical activities reported 812 registered unemployed persons, up from 754 in May 2025 and broadly unchanged from 816 in April.

Divergent Trends In Other Sectors

Several sectors recorded lower unemployment levels compared with a year earlier. Construction declined from 426 registered unemployed persons in May 2025 to 366 in May 2026. Wholesale and retail trade, including the repair of motor vehicles and motorcycles, recorded a slight decrease from 1,400 to 1,380. Agriculture, forestry and fishing, together with water supply, sewerage, waste management and remediation activities, also reported lower figures. Manufacturing, financial and insurance activities, and real estate activities remained broadly stable.

Future Outlook

The latest data show differing trends across sectors, with accommodation and food services accounting for a significant share of the annual increase in registered unemployment. At the same time, construction, retail trade and several other sectors recorded lower unemployment levels compared with the previous year. Detailed labour market data are available through the Cyprus Statistical Service.