PolyAI vs ElevenLabs

ElevenLabs has a disclosed valuation of $11B, while PolyAI's valuation is not publicly available, making a direct size comparison difficult. ElevenLabs employs 200 people.

ElevenLabs has raised more in total funding at $791M, compared to PolyAI's $200M — a gap of $591M. Combined, the two companies have completed 6 known funding rounds.

ElevenLabs leads with an Awaira Score of 81/100, while PolyAI sits at 70/100. That 11-point gap reflects real differences in funding, scale, and traction — it's not a vanity metric.

PolyAI was founded by Nikola Mrksic in 2017. ElevenLabs was founded by Mati Staniszewski in 2022. Visit each company's profile on Awaira for a full founder biography.

PolyAI: PolyAI develops voice AI agents for enterprise customer service, building conversational systems capable of handling complex, open-ended telephone interactions without human escalation. The platform is purpose-built for contact center automation, covering verticals including hospitality, banking, retail, and healthcare, with voice agents that understand context, manage multi-turn dialogue, and resolve customer queries end-to-end.\n\nThe company has raised approximately $116 million across multiple rounds including a $50 million Series C, with investors including NVentures, Khosla Ventures, and Point72 Ventures. PolyAI reports that its deployments handle tens of millions of calls annually for clients including Marriott Hotels, FedEx, and several major UK banks, with automation rates frequently exceeding 50 percent of total call volume.\n\nPolyAI competes in the rapidly expanding conversational AI market, which analysts estimate will exceed $40 billion by 2028. The company differentiates from competitors including Nuance, LivePerson, and newer generative AI entrants through its focus on naturalness and resolution quality rather than simple deflection metrics. The founding team holds deep academic roots in dialogue systems research from Cambridge University, giving the platform a technical foundation that is difficult for generalist AI providers to replicate quickly. ElevenLabs: ElevenLabs is an AI audio company founded in 2022 that specializes in text-to-speech (TTS) and voice synthesis technology. The company develops artificial intelligence models that convert written text into natural-sounding spoken audio across multiple languages and voices. Its core platform enables developers and enterprises to integrate advanced voice generation into applications, products, and services. The company's technology focuses on neural voice synthesis, producing audio that closely mimics human speech patterns, intonation, and emotional nuance. ElevenLabs offers both API access for developers and a web-based platform for content creators, allowing users to generate voiceovers, audiobooks, podcasts, and multilingual content at scale. With a Series D valuation of $11.0 billion and total funding of $791 million, ElevenLabs ranks among the most well-capitalized AI audio startups. The company competes in the growing text-to-speech market alongside established players and emerging competitors focused on voice AI. ElevenLabs serves use cases spanning education, entertainment, accessibility, and business applications. The platform supports numerous languages and offers customizable voice parameters. The company has demonstrated significant adoption and growth since its 2022 founding, establishing itself as a notable player in the AI audio landscape through rapid scaling and substantial investor backing. ElevenLabs has achieved unicorn status within two years of founding, reflecting exceptional market demand for accessible, high-quality AI voice synthesis technology.

PolyAI got there first, launching in 2017 — that's 5 years of extra runway. ElevenLabs didn't arrive until 2022. In AI, that kind of head start means more training data, deeper customer relationships, and a bigger talent moat.

PolyAI has about 100-500 employees; ElevenLabs has about 200. A bigger team usually means more revenue or heavier VC backing, but in AI, small teams can build at massive scale.

Yes — they're direct rivals. Both PolyAI and ElevenLabs compete in AI Audio, targeting many of the same buyers. If you're evaluating one, you should be looking at the other.