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Exclusive: ElevenLabs says India now 2nd largest market; crosses $600 million revenue run rate

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Exclusive: ElevenLabs says India now 2nd largest market; crosses $600 million revenue run rate

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Exclusive: ElevenLabs crosses $600M global ARR as India emerges as its second-largest market

ElevenLabs’ global ARR has crossed $600 million, while India has emerged as its second-largest market as demand for voice AI accelerates.

India has emerged as ElevenLabs’ second-largest market after the US, while the artificial intelligence (AI) voice company’s global revenue has crossed a $600 million annual run rate, CEO Mati Staniszewski told CNBC-TV18. ElevenLabs is also building a local presence across go-to-market, engineering, research and forward-deployed engineering as it looks to tap the country’s growing demand for voice AI. Staniszewski said India is particularly important because of the scale and diversity of its language market. ElevenLabs’ 11 v4 model supports 14 Indian languages, while the company is working with businesses across sectors including education, customer support, sales and smart home technology. “India can be a laboratory for voice AI,” Staniszewski said, pointing to use cases such as Physicswallah in education, Cars24 and Razorpay in customer support and sales workflows, and Havells’ smart home application.

The company’s growth is also increasingly being driven by large enterprises. Staniszewski said enterprise revenue has now crossed revenue from self-serve customers and accounts for 55% of ElevenLabs’ total business. He attributed the shift to voice AI becoming reliable enough for large-scale enterprise deployment. The growing enterprise opportunity is also influencing how ElevenLabs is investing in India. The company recently raised close to $1 billion and plans to spend a double-digit percentage of that fundraise in the region, which Staniszewski described as amounting to “hundreds of millions of dollars”.


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