ElevenLabs Reaches $22B Valuation Through Employee Share Buyback
The voice AI company has doubled its valuation in less than a year by allowing staff to liquidate equity through a $300 million tender offer led by major institutional investors.
ElevenLabs, a voice artificial intelligence startup, has announced a secondary share offering that values the company at $22 billion—double the $11 billion valuation it commanded when securing $500 million in funding during February. Through a $300 million tender offer, the company permitted its workforce to sell portions of their vested stock to outside investors. Wellington and T. Rowe Price jointly orchestrated the transaction, both major institutional backers of private enterprises that typically maintain their positions through eventual public offerings.
Employee liquidity programs have become increasingly common among rapidly expanding AI firms seeking to retain talent and discourage departures to rival companies. ElevenLabs is not new to this approach—the company conducted its first secondary transaction in September 2025, a $100 million offering priced at a $6.6 billion valuation.
Established in 2022, ElevenLabs specializes in producing highly lifelike synthetic voices and audio effects. The company, headquartered in New York and London, now ranks among Europe's most highly valued private startups following this latest valuation milestone.
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