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ElevenLabs partners with Universal Music Group for AI music platform
ElevenLabs, an AI audio technology company, has entered into a multi-year licensing agreement with Universal Music Group (UMG) to co-develop a new AI-powered music platform. The collaboration aims to create tools that allow fans to remix, mashup, and generate personalized vocal experiences using licensed music from UMG’s catalog. The partnership focuses on building new products rather than utilizing ElevenLabs’ existing music creation apps like ElevenMusic.
Separately, ElevenLabs is preparing for a potential initial public offering (IPO) around 2028. The company’s valuation reached $11 billion following a $500 million Series D funding round in February 2026, led by Sequoia Capital. This represents a significant increase from its $3.3 billion valuation in early 2025. The company has seen rapid growth, with annual recurring revenue (ARR) estimated to exceed $500 million by April 2026.
Entities
ElevenLabs · Lucian Grainge · Mati Staniszewski · Sequoia Capital · Universal Music Group
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The new platform will allow fans to remix, mashup, and create personalized vocal experiences using licensed music. www.billboard.com · variety.com
- [● 2 SOURCES] Universal Music Group and ElevenLabs signed a multi-year licensing agreement to develop a new AI-powered music platform. www.billboard.com · variety.com
- [○ 1 SOURCE] ElevenLabs is planning an initial public offering by 2028. cryptobriefing.com
- [○ 1 SOURCE] Annual recurring revenue exceeded $330 million by the end of 2025. cryptobriefing.com
- [○ 1 SOURCE] The agreement excludes ElevenLabs’ existing ElevenMusic app and Music EPI API models. www.billboard.com
- [● 2 SOURCES] The company reached an $11 billion valuation following a $500 million Series D funding round in February 2026. cryptobriefing.com · variety.com