ElevenLabs doubles valuation to $22 billion

Voice AI startup ElevenLabs is allowing employees to sell some of their vested equity in a tender offer that values the company at $22 billion, according to TechCrunch. That is double the $11 billion valuation it reached when it raised $500 million in February.

The $300 million tender offer was co-led by Wellington and T. Rowe Price. It gives employees an opportunity to sell shares to investors. TechCrunch describes the co-leads as large institutional investors that back private companies with the intention of retaining shares after a company goes public.

This is the second employee secondary transaction authorized by the four-year-old company. ElevenLabs previously held a $100 million tender at a $6.6 billion valuation in September 2025.

Founded in 2022, ElevenLabs is known for generating human-like voices and sound effects. The company is based in New York and London. Its new valuation places it among Europe’s most valuable startups, TechCrunch reports.