00:44:02 · John Collison, Mati Staniszewski
[00:44:02] S0: lot of complex actions. [00:44:03] S1: A lot of, like, financial analysis of, like, is... Like, that would be not not something we optimize for. Can we talk [00:44:08] S0: about your revenue ramp? Or you're just one of the fastest growing startups, period, of the past few years. What's your most recently announced revenue figure? [00:44:16] S1: Most recently announced was end of twenty Or... 20 [00:44:19] S0: whatever number you wanna give us. [00:44:20] S1: Most So recently announced was 350 at the end of twenty twenty five. Yeah. But the the best proof of the technology working... So recently, are... Announced our work with Deutsche Telekom and T Mobile, with Revolut, with Klarna, with Meta, with IBM, a wide set of use cases. And this quarter was kind of one of the the best for enterprise growth where we had the first quarter hit 100,000,000 in a... In an an additional ARR growth, which is crazy. [00:44:46] S0: In net new ARR? [00:44:47] S1: In net new ARR.
00:44:47 · Mati Staniszewski, John Collison
[00:44:47] S1: In net new ARR. [00:44:47] S0: Okay. So if you think this quarter was a 100,000,000 in ARR Sold Yeah. And 350,000,000 at the end of the year. Yeah. I'm no mathematician, but it's up in the 450,000,000 range. So... And that's... Versus this time last year, that's a several fold increase. Just what's what's working? Like, from the outside, I would assume that there's really strong cohort growth within accounts, and then you seem to have self serve and enterprise businesses that both contribute a lot. I know how big self serve is, but as a user, I like to be able to fiddle with ElevenLabs and not have to, you go talk to sales. But maybe you can just talk about what works to reach $450,000,000 plus of ARR so quickly? [00:45:28] S1: Yeah. So exactly. So we are over 50% is now sales led on enterprise. Yep. And, know, I think largely that technology powers a lot of their agentic interactions just became reliable at the same time as high quality over the last year, year and a half. So that's frequently you know this extremely well. You will start the account, and then of course it continues expanding, and we we see... There's definitely land and expand motion across ElevenLabs. We we we bring... [00:45:59] S0: And what does that expand look like? Is it, like, new departments? Is it just the usage starts taking off when when a customer expands? [00:46:05] S1: Both. But usually, the the first the first part too is, like, we try to make it very easy for our customers. [00:46:11] S0: Yeah.
00:46:11 · John Collison, Mati Staniszewski
[00:46:11] S0: Yeah. [00:46:11] S1: Maybe that kind of against ourselves where we give the technology a a pretty attractive economics. Mhmm. Because we so much believe in the technology providing value, so you can actually try it and test it, and then within that [00:46:24] S0: point of you'll make it up in usage, basically.
00:46:24 · John Collison, Mati Staniszewski
[00:46:24] S0: point of you'll make it up in usage, basically. [00:46:26] S1: Exactly. That usage, the kind of commit continues increasing because you know it's providing value, then it's so much easier to make that choice. And then, of course, cross department pollination is there too. It is like, you know, our work with Edge Telecom started marketing side. So we did Magenta work and podcast generation, then it kind of expanded to customer support, and then it expanded to us working on the... In agent across the entirety of the network so people can call in and have the agent. So, like, you could see those step changes step changes across. But we are now four hundred four hundred seventy people as a company, so we keep keep on growing, but some of the things that stay consistent is small teams. So we have less than 10 people teams for each of the product or research initiatives, or even as you think about sharding some of our go to market strategy, those will be smaller teams understanding the industry in-depth, understanding the market in-depth, and going independently and going quickly, so that definitely contributed largely to that. Two, especially on the biggest enterprises, what we found works is, and it's like we have the full spectrum, self serve, PLG motion that helps distribution, drive, kind of awareness of ElevenLabs. And on the completely other spectrum, we have the high touch, four deployed engineering working side by side with the customers to to to customize the entirety of their work together. Why did you guys do self serve?
00:47:52 · John Collison
[00:47:52] S0: Because I presume you have a lot of competitors where they have tech, and it's behind a contact sales forum, and you have to go talk to an SDR and then talk to an AE, blah blah blah blah. And you guys just offer the tech available on the side. And I'm a huge believer in this. I mean, a huge part of Stripe's growth has been driven by the fact that we just made Stripe available to anyone Yeah. And built a lot of product around that adoption pattern. But so many companies seem to skip it. So I'm curious how you guys can... So many reasons.
00:48:19 · Mati Staniszewski, John Collison
[00:48:19] S1: So many reasons. I think, you know, the the the quick ones that come to come to mind is feedback loop. It just... You can have immediate understanding of how good your technology is. Two, which is extension of that. We stand behind our tech. We believe it's it's the best in the world for models, for voice agents, for deployment. Yep. So we want people to experience that. And I think you do that the same in Stripe where the best version of the technology is available to everyone Mhmm. Which is so attractive to actually try it out. We always try to make everything we build for the highest end use cases, bring it back to the ecosystem free. Frequently, the newest of the use cases... For enterprise, you will need reliability, you need compliance, you need the scale, which we deliver. So frequently, as you develop new technology, it might not, not be ready for a lot of those parameters, but it's definitely ready for developers and SMBs. And we love what they are doing because they are showing us the future and effectively helping us [00:49:15] S0: find a trajectory of where ElevenLabs should go. I'm totally convinced, Alan. I'm just always amazed that more companies don't pursue it where it feels like they're really shooting themselves in the first by not. Like, did you guys self serve on Stripe? Or did you... [00:49:27] S1: We self serve on Stripe. [00:49:28] S0: Yeah. For for example, you know, Eleven is a huge company, and yet A 100%. You started on Stripe on a self