Voice AI startup ElevenLabs has doubled its valuation to $22 billion through a $300 million tender offer that allows employees to sell part of their vested equity.
The transaction was co-led by Wellington and T. Rowe Price, institutional investors that back private companies and typically hold shares until a public listing, according to the announcement.
The deal marks the second time ElevenLabs has arranged a secondary transaction for employees. In September 2025, the company held a $100 million tender offer at a $6.6 billion valuation. Its latest valuation is double the $11 billion level reached when it raised $500 million in February.
Employee liquidity programs have become increasingly common among fast-growing AI startups as they seek to retain talent and limit departures to competing companies.
Founded in 2022, ElevenLabs develops technology for generating human-like voices and sound effects. The company is based in New York and London and is now among Europe’s most valuable startups.
Source: TechCrunch
