ElevenLabs CEO discusses voice AI market share and government contracts
ElevenLabs, a four-year-old AI voice company, reportedly holds a $22 billion valuation despite competing with its own customers. The firm powers customer service for major clients like Klarna, Deutsche Telekom, and governments, including the U.S. and European nations. Its CEO, Mati Staniszewski, told TechCrunch that $600 million in annual recurring revenue comes from enterprise and smaller…
Key points
- ElevenLabs powers AI voice for **35 million U.S. customers** via Klarna and others, plus governments worldwide
- Company reports **$600 million** in annual recurring revenue from enterprise, SMBs, and creators
- CEO says voice AI will commoditize in **3–5 years** but aims to lead with emotional conversational AI
Staniszewski expects voice AI to become commoditized within three to five years but aims to lead by passing a Turing test for emotional intelligence in conversations. He declined to share gross margins but said the company prioritizes long-term value over squeezing profits. ElevenLabs trains models collaboratively with clients and uses synthetic data annotated by voice coaches. The firm is exploring an IPO by 2028, though timing remains uncertain. It also addresses cybersecurity risks, noting it does not deploy self-replicating agents like Hugging Face did.
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Twenty minutes with the CEO of ElevenLabs, now reportedly valued at $22 billion
TechCrunch AI · 24 September 2026
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