ElevenLabs vs Grammarly: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for ElevenLabs. Grammarly had $700M of annual revenue in FY2025.
Latest financial snapshot
ElevenLabs
- Latest annual revenue
- Unavailable here
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- —
Grammarly
- Latest annual revenue
- $700M (FY2025)
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- —
Financial summary
ElevenLabs
ElevenLabs is private and does not publish audited accounts; its figures come from company announcements and press reports. ARR was above $330 million at the end of 2025 and above $500 million by April 2026, and reports around the September 2026 tender put it near $600 million. Funding milestones: $80 million Series B at $1.1 billion (January 2024), $180 million Series C at $3.3 billion (January 2025), a $6.6 billion secondary sale in 2025, a $500 million Series D at $11 billion led by Sequoia (February 2026), and a $300 million employee tender at $22 billion (September 2026). ElevenLabs is one of the fastest-growing AI voice technology startups, achieving unicorn status with a private valuation of approximately $1.1 billion.
Grammarly
Grammarly is private and does not publish audited financial statements. On May 29, 2025, while announcing $1 billion in nondilutive financing from General Catalyst, the company said it had more than $700 million in annual revenue and more than 40 million daily users. The General Catalyst money was structured as capital repaid from revenue generated by the sales and marketing it funds, not as new equity, so the company's last equity valuation is still $13 billion from the November 2021 round led by Baillie Gifford and BlackRock funds. The company was profitable and bootstrapped from 2009 until its first venture round of $110 million in 2017, then raised $90 million in 2019 at a valuation above $1 billion. It has not filed for an IPO.
Revenue and profit by year
ElevenLabs
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 run-rate | $500M | — | — | — | Source |
| FY2025 run-rate | $330M | — | — | — | Source |
| FY2024 run-rate | $90M | — | — | — | Source |
Grammarly
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $700M | — | — | — | Source |
| FY2024 run-rate | $650M | — | — | — | Source |
| FY2022 run-rate | $500M | — | — | — | Source |
Where the revenue comes from
ElevenLabs
No segment breakdown is published.
Grammarly
- Individual subscriptions
Not disclosed
Monthly or annual Grammarly Pro plans bought by individuals.
- Business and enterprise plans
Not disclosed
Per-seat team, business and enterprise contracts, plus suite plans that include Superhuman Docs, Mail and Go.
- Education licenses
Not disclosed
Institutional plans for schools and universities.
Business model and strategy
ElevenLabs
How it makes money
ElevenLabs makes money in two ways. First, self-serve subscriptions: creators, podcasters, authors and small businesses pay monthly plans (from a free tier up to Business plans) that include a quota of generated characters or minutes.
Growth strategy
Growth comes from three directions: moving from creator subscriptions to large enterprise voice-agent deployments in customer support and telephony; adding adjacent audio products (Scribe speech-to-text, Eleven Music, sound effects, dubbing); and expanding internationally, including new hubs announced with the Series D such as Bengaluru.
Competitive advantage
ElevenLabs' edge is audio quality and breadth. Its models (including Eleven v3, released in 2025) are widely regarded as among the most expressive speech generators, and it offers one platform covering text-to-speech, cloning, dubbing, transcription, sound effects, music and agents.
Grammarly
How it makes money
Grammarly runs a freemium subscription model. The free browser extension and apps give basic spelling and grammar fixes and pull in tens of millions of users.
Growth strategy
Grammarly's strategy since 2023 has been to move from correcting text to doing work for the user. It launched GrammarlyGO generative features in 2023. It agreed to acquire Coda in December 2024 and made Coda co-founder Shishir Mehrotra CEO.
Competitive advantage
Grammarly's main advantage is distribution. It runs inside more than 1 million apps and websites through one extension, so users get suggestions in Gmail, Slack, Google Docs, Word or a CRM without copying text into a chatbot. That reach, which the company calls its in-app 'rails', is what Superhuman Go now uses to deliver its own and partner AI agents.
Questions about ElevenLabs vs Grammarly
Which company has higher revenue — ElevenLabs or Grammarly Inc.?
Grammarly Inc. had $700.0M (FY2025). A comparable annual revenue figure for ElevenLabs was unavailable here.
How does revenue per employee compare for ElevenLabs and Grammarly Inc.?
Grammarly Inc. generates $700k / employee in revenue per employee. A comparable figure for ElevenLabs requires matching employee and revenue data from the same reporting period.
How do ElevenLabs and Grammarly Inc. make money?
ElevenLabs and Grammarly Inc. generate revenue in fundamentally different ways. ElevenLabs: ElevenLabs makes money in two ways. Grammarly Inc.: Grammarly runs a freemium subscription model.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the ElevenLabs vs Grammarly overview