Voice AI startup ElevenLabs announced today that it is allowing employees to cash out a portion of their vested equity at a $22 billion valuation. This marks a doubling of the $11 billion valuation the company reached in February when it raised $500 million.
ElevenLabs Valuation Doubles to $22B as Company Announces Employee Tender Offer
The $300 million tender offer provides employees with the opportunity to sell their shares to investors. The transaction was co-led by Wellington and T. Rowe Price, both large institutional investors that typically retain stock following a company's public offering.
This move follows a previous secondary transaction conducted by the company in September 2025, which was valued at $6.6 billion. ElevenLabs, founded in 2022 and based in New York and London, specializes in generating high-fidelity human voices and sound effects.
The company reported significant financial growth, surpassing $200 million in annual recurring revenue (ARR) earlier this year and expecting to exceed $300 million by the end of the year. ElevenLabs has also expanded its workforce to over 330 employees, up from 70 a year ago.
Sources
- AI voice startup ElevenLabs doubles valuation to $22B （TechCrunch AI, 2026-09-30）
- ElevenLabs