ElevenLabs, a trailblazer in the world of AI-generated voices, has reached extraordinary heights with a valuation now standing at $6.6 billion. This wasn’t a slow climb; the company doubled its worth in just nine months. Yet, its CEO Mati Staniszewski, isn’t sitting back. Instead, he signals a challenging reality for voice technology and the need for a strategic shift away from it toward something even more ambitious: conversational AI agents.
As someone who has bootstrapped her own businesses in Europe, this story struck a chord with me. ElevenLabs’ trajectory provides insights and lessons for female entrepreneurs who are constantly juggling the challenge of staying ahead while staying grounded. Let’s connect the dots and draw actionable takeaways from this milestone.
The Rise of ElevenLabs and the Voice AI Niche
ElevenLabs was founded by two engineers from Poland who initially set out to improve movie dubbing. Today, they are anything but a niche player. With funding from Sequoia Capital and ICONIQ, and adoption across industries ranging from gaming to customer service, they’ve planted their flag firmly at the summit of AI voice technology. Companies like Cisco, Epic Games, and Adobe leverage ElevenLabs’ advancements to create immersive user experiences. Even Fortnite characters now speak with the help of its AI. Early adopters such as YouTubers, authors, and podcasters also significantly contributed to its growth.
However, with voice modeling tools becoming broadly available, Staniszewski predicts a commoditization of the technology within the next two years. This means voice as a standalone capability may no longer carry the weight it once did in terms of competitive advantage.
Here’s where the pivot comes in. ElevenLabs is now focused on conversational AI platforms, blending voice, interaction, and context into tools that mimic human discussion. This direction opens doors to everything from smarter customer service agents to next-generation gaming avatars.
For Entrepreneurs: Why This Matters
ElevenLabs’ story holds three key insights for entrepreneurial minds, especially female founders in Europe.
-
Spot Industry Saturation Early
Staniszewski’s acknowledgment that voice tech is approaching a commodity status is a masterclass in foresight. As entrepreneurs, identifying when a product or service might lose its novelty is crucial. Markets move faster than ever, and staying sharp to shifts in demand can prevent stagnation. -
Pivoting Requires Bold Moves
Changing course is daunting, particularly when you’ve already found success in a specific niche. Yet, ElevenLabs demonstrates that using revenue from existing models to build the future, instead of clinging to them, is sometimes the smartest route forward. -
The Ethics of Innovation
From tackling deepfakes to ensuring authenticity in AI-generated voices, ElevenLabs is making accountability part of its core strategy. With conversations swirling around ethical technology, this is a reminder to embed responsibility into innovation.
Lessons for Female Entrepreneurs: Planning the Pivot
If you’re running a business, pivots are inevitable. Let’s look at steps that can help make the transition not just smoother, but successful.
-
Conduct a Market Reality Check
Is your offering at risk of becoming obsolete or over-saturated? Dive into data or consult with experts in your industry. For instance, tools like Miro’s AI-enhanced templates can help map out potential threats and new opportunities. -
Build a Financial Safety Net First
Before making big moves, steady the foundation. ElevenLabs had over $200 million in annual recurring revenue when it decided to pull resources into conversational AI research. For bootstrapped startups, consider earmarking revenue for experimentation. -
Prioritize Collaboration and Team Buy-In
Changing direction can be jarring for your team. Involve them in the planning process. Let their expertise inform the strategy. -
Communicate Clearly with Stakeholders
Investors, customers, and collaborators need clarity. Share the vision behind your pivot and why you believe it’s necessary. Transparency builds trust and buys time during the transition. -
Keep an Eye on Technology Adjacent to Your Core
In my own startups, exploring tech outside our wheelhouse, such as blockchain for IP protection, has been game-changing. Mapping where voice AI intersects with content, audio-visual fusion, and even music, is precisely how ElevenLabs is maintaining relevance.
Common Errors to Avoid
As I’ve seen with many small businesses, hesitation or missteps during a pivot can cost dearly. Here are traps you should steer clear of:
- Neglecting Data: Decisions based purely on gut feelings can backfire. Use feedback, market research, and measurable trends to guide your choices.
- Rushing to Market: If you’re branching into new areas, ensure quality doesn’t drop for the sake of speed. Take time to beta-test and refine.
- Not Addressing Ethical Concerns: Whether it’s AI, privacy, or another sensitive area, ignoring ethical questions harms reputation.
Takeaways from ElevenLabs’ Leadership Approach
Let’s shift focus to how ElevenLabs is managing its incredible growth amidst industry changes. Their steps are smart strategies anyone can emulate:
-
Value Team Contributions
It’s reported that ElevenLabs conducted a $100 million employee tender offer this year, a reward for their team’s hard work. While bootstrapped founders may not have those resources, I’ve found gestures like profit-sharing or skill development incentives build morale and retain talent. -
Think Globally, But Stay Authentic
ElevenLabs may be scaling internationally, but their founders have stayed true to their humble beginnings in Poland. Authenticity resonates, especially with customers and collaborators. -
Experiment with Scaling Models
They’ve balanced big enterprise clients like Adobe with smaller creators (e.g., YouTubers). Diversification avoids over-reliance on one revenue stream.
Closing Thoughts
For those of us in Europe’s startup scene, ElevenLabs is a reminder to think big but remain agile. Their valuation milestone, while staggering, wasn’t by chance. It was built on strong fundamentals, a relentless eye on market shifts, and the courage to pivot before decline.
As entrepreneurs, whether bootstrapping or fundraising, the message is clear: don’t get too attached to yesterday’s winning formula. Evaluate critically, listen to the market, and prepare for what’s next.
If you want to stay sharp or explore how to implement conversational AI into your projects, learning from examples like ElevenLabs is a good place to start. Keep experimenting. The next big pivot could be yours.
FAQ
1. What is ElevenLabs' current valuation?
As of December 2025, ElevenLabs is valued at $6.6 billion, doubling its worth in just nine months. Read the ElevenLabs valuation announcement
2. Who are ElevenLabs' main investors?
The company recently raised $100 million in funding in a tender offer led by Sequoia Capital and ICONIQ. Andreessen Horowitz also participated. Check out the funding details
3. Why is ElevenLabs pivoting from voice AI?
CEO Mati Staniszewski predicts voice modeling tools will become commoditized within two years, prompting a shift toward conversational AI platforms. Explore Mati Staniszewski's insights
4. What industries currently use ElevenLabs’ technology?
ElevenLabs powers applications in gaming, enterprise customer service, media dubbing, education, and immersive entertainment, with clients like Cisco, Epic Games, and Adobe. Learn more about ElevenLabs' industry applications
5. How does ElevenLabs ensure ethical AI usage?
The company tackles deepfake concerns through tools like audio watermarking, AI detection, and authentication features to maintain content authenticity. Discover ElevenLabs' ethical safeguards
6. Is ElevenLabs expanding beyond voice AI?
Yes, the company is diversifying into multimodal AI, blending voice, music, and video technology to create more immersive and advanced experiences. Explore ElevenLabs' AI innovations
7. What notable milestones has ElevenLabs achieved recently?
The company surpassed $200 million in annual recurring revenue and launched a $100 million tender at a $6.6 billion valuation. Learn about ElevenLabs' milestones
8. What early applications contributed to ElevenLabs’ growth?
Content creators like YouTubers and podcasters were early adopters, using their tech for voice synthesis, helping fuel initial growth. Check out ElevenLabs' early adoption successes
9. What new ventures is ElevenLabs pursuing?
In addition to conversational AI, ElevenLabs is exploring AI-powered music and multimodal content generation, aiming to integrate creativity across platforms. Learn about ElevenLabs' new ventures
10. How does ElevenLabs reward its employees amidst growth?
The company recently launched a $100 million employee tender offer to provide liquidity and recognize team contributions. Read about ElevenLabs’ team rewards
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
