Key takeaways
- State-of-the-art turn-taking model detects conversational cues like "um" and "ah" for natural interaction flow
- 10,000+ voices with voice cloning, plus integrated RAG for knowledge-grounded responses
- Enterprise-ready with HIPAA compliance, EU data residency, and multimodal (voice + text) support
FAQ
What is ElevenLabs Conversational AI?
ElevenLabs Conversational AI is a platform for building sophisticated voice agents with natural turn-taking, multilingual support, integrated RAG, and enterprise security features.
How much does ElevenLabs Conversational AI cost?
Pricing starts at $0.10/minute for voice agents. Plans range from Starter ($5/mo) to Enterprise (custom). Agents are billed by the minute with credits.
What voices are available?
10,000+ voices including stock voices, community voices, and custom voice clones. Supports 32+ languages with automatic language detection.
Executive Summary
ElevenLabs Conversational AI 2.0 is the market-leading voice agent platform, combining best-in-class voice synthesis with sophisticated conversational capabilities. The platform features a state-of-the-art turn-taking model that detects cues like "um" and "ah," integrated RAG for knowledge grounding, and enterprise features including HIPAA compliance and EU data residency.
| Attribute | Value |
|---|---|
| Company | ElevenLabs |
| Founded | 2022 |
| Valuation | $11B (February 2026) |
| Total Funding | $780M+ |
| Voices | 10,000+ |
| Languages | 32+ |
Product Overview
ElevenLabs launched Conversational AI in January 2025 and released version 2.0 just five months later in May 2025. The platform enables developers to build voice agents that can communicate via voice, text, or both simultaneously, with natural turn-taking and multilingual support.
The company has grown rapidly, reaching an $11B valuation in February 2026 backed by investors including NVIDIA, Andreessen Horowitz, and Sequoia.
Key Capabilities
| Capability | Description |
|---|---|
| Turn-Taking Model | Detects conversational cues (um, ah) for natural flow |
| 10K+ Voices | Stock, community, and custom voice clones |
| Integrated RAG | Low-latency knowledge retrieval with privacy |
| Multimodal | Voice-only, text-only, or voice + text simultaneously |
| Auto Language Detection | Seamless multilingual conversations |
| Multi-Character | Switch personas within single agent |
Product Surfaces
| Surface | Description | Availability |
|---|---|---|
| Web Widget | Embeddable voice agent | GA |
| Mobile SDKs | iOS and Android native | GA |
| Telephony | Twilio, SIP trunking | GA |
| Batch Calls | Automated outbound calling | GA |
| API | Full programmatic control | GA |
Technical Architecture
ElevenLabs Conversational AI combines their industry-leading TTS with a sophisticated conversational engine that handles turn-taking, interruptions, and knowledge retrieval.
┌─────────────────────────────────────────────────┐
│ ElevenLabs Conversational AI │
├─────────────────────────────────────────────────┤
│ ┌───────────────┐ ┌───────────────────────┐│
│ │ Turn-Taking │ │ Voice Synthesis ││
│ │ Model │ │ (10K+ voices) ││
│ └───────┬───────┘ └───────────┬───────────┘│
│ │ │ │
│ ┌───────┴────────────────────────┴───────────┐│
│ │ Conversation Engine ││
│ │ ┌─────────┐ ┌─────────┐ ┌─────────┐ ││
│ │ │ LLM │ │ RAG │ │ Tools │ ││
│ │ └─────────┘ └─────────┘ └─────────┘ ││
│ └────────────────────────────────────────────┘│
├─────────────────────────────────────────────────┤
│ Web | Mobile | Telephony | API │
└─────────────────────────────────────────────────┘
Enterprise Features (v2.0)
| Feature | Description |
|---|---|
| HIPAA Compliance | Healthcare data privacy |
| EU Data Residency | Data sovereignty for EU |
| SSO/SAML | Enterprise authentication |
| SLA | Uptime guarantees |
| Dedicated Support | Premium support channels |
Strengths
- Voice quality — Industry-leading TTS with 10,000+ natural-sounding voices
- Turn-taking — State-of-the-art model detects conversational cues for natural flow
- Voice cloning — Create custom voices from audio samples
- Multilingual — 32+ languages with automatic detection
- Integrated RAG — Low-latency knowledge retrieval built-in
- Enterprise-ready — HIPAA, EU residency, SSO, SLAs
- Multimodal — Voice + text in same agent
- Rapid iteration — v1 to v2 in 5 months shows fast development
Cautions
- No self-hosting — Cloud-only; no on-premise deployment option
- Credit-based pricing — Can be complex to predict costs
- LLM dependency — Relies on external LLMs (OpenAI, Anthropic) for reasoning
- Newer platform — Conversational AI launched January 2025; less mature than core TTS
- Premium pricing — Higher cost than DIY STT+LLM+TTS pipelines
- Limited function calling — Less sophisticated tool use than OpenAI Realtime
Pricing & Licensing
ElevenLabs uses a credit-based system with plans:
| Plan | Price | Credits | Features |
|---|---|---|---|
| Free | $0/mo | 10K credits | Basic voices, testing |
| Starter | $5/mo | 30K credits | More voices, API access |
| Creator | $22/mo | 100K credits | Custom voices |
| Pro | $99/mo | 500K credits | 44.1kHz PCM, production |
| Scale | $330/mo | 2M credits | Low-latency, team features |
| Business | $1,320/mo | 11M credits | Priority support |
| Enterprise | Custom | Custom | HIPAA, SSO, SLA |
Conversational AI costs: ~$0.10/minute for voice agents, billed from credits.
Competitive Positioning
Direct Competitors
| Competitor | Differentiation |
|---|---|
| OpenAI Realtime API | OpenAI has better function calling; ElevenLabs has superior voice quality and variety |
| Vapi | Vapi orchestrates multiple providers; ElevenLabs is end-to-end with better voices |
| Retell AI | Retell has lower base pricing; ElevenLabs has more voices and turn-taking |
| AWS Nova Sonic | Nova Sonic has Bedrock integration; ElevenLabs has better voice quality |
When to Choose ElevenLabs Conversational AI
- Choose ElevenLabs when: Voice quality is paramount, you need voice cloning, or want turn-taking detection
- Choose OpenAI Realtime when: Function calling accuracy is critical
- Choose Vapi when: You need provider flexibility
- Choose Retell when: Cost is the primary concern
Ideal Customer Profile
Best fit:
- Applications where voice quality is a key differentiator
- Brands wanting unique voice identity (voice cloning)
- Multilingual global deployments
- Healthcare applications (HIPAA compliance)
- Entertainment, gaming, and creative applications
- Teams wanting all-in-one voice agent platform
Poor fit:
- Cost-sensitive high-volume applications
- Teams requiring self-hosted deployment
- Use cases needing sophisticated tool orchestration
- Organizations avoiding vendor lock-in
Viability Assessment
| Factor | Assessment |
|---|---|
| Financial Health | Excellent — $11B valuation, $780M+ raised, NVIDIA backing |
| Market Position | Leader — Dominant in TTS, growing in conversational AI |
| Innovation Pace | Rapid — v1 to v2 in 5 months; frequent updates |
| Ecosystem | Growing — SDKs, integrations, community voices |
| Long-term Outlook | Very Positive — Clear market leader trajectory |
ElevenLabs is the fastest-growing company in voice AI, with a $11B valuation and backing from top investors including NVIDIA. The rapid evolution from TTS to full conversational AI shows strong execution.
Bottom Line
ElevenLabs Conversational AI 2.0 is the best choice when voice quality and naturalness are paramount. The combination of 10,000+ voices, state-of-the-art turn-taking detection, and enterprise features (HIPAA, EU residency) makes it the most complete voice agent platform available.
The trade-offs are premium pricing, cloud-only deployment, and less sophisticated function calling compared to OpenAI. For applications where voice quality differentiates the product—entertainment, brand voice, creative applications—ElevenLabs is the clear leader.
Recommended for: Applications prioritizing voice quality, brands wanting unique voice identity, multilingual deployments, and HIPAA-compliant healthcare applications.
Not recommended for: Cost-sensitive applications, teams requiring self-hosting, or use cases needing sophisticated tool orchestration.
Research by Ry Walker Research