ElevenLabs has authorized a tender offer allowing employees to sell a portion of their vested equity. This transaction values the four-year-old voice AI startup at $22 billion, which is double the $11 billion valuation achieved during a funding round in February.
The $300 million secondary transaction was co-led by institutional investors Wellington and T. Rowe Price. These investors intend to hold the acquired shares until the company eventually goes public. This move aligns with a broader industry trend where AI startups provide liquidity to retain talent.
This is the second time ElevenLabs has conducted such an offering. In September 2025, the company held a $100 million tender offer at a valuation of $6.6 billion. Founded in 2022, the startup operates offices in New York and London and specializes in generating human voices and sound effects.
With this latest valuation, ElevenLabs has become one of the most valuable startups in Europe. The company continues to use secondary market transactions as a strategic tool to maintain its workforce and prevent staff turnover to competitors in the rapidly evolving AI sector.
