ElevenLabs Reaches $22B Valuation in $300M Employee Tender Offer

Voice AI developer ElevenLabs is permitting employees to cash out a portion of their vested equity in a $300 million tender offer valuing the startup at $22 billion, according to reporting by TechCrunch AI (https://techcrunch.com/2026/09/30/ai-voice-startup-elevenlabs-doubles-valuation-to-22b/).

The valuation marks a doubling from the $11 billion figure ElevenLabs set after raising $500 million in February. The secondary transaction was co-led by institutional asset managers Wellington and T. Rowe Price, both of which back private companies with the intent to retain equity stakes following an initial public offering.

The tender offer reflects a broader pattern among high-growth artificial intelligence startups using secondary share sales as a retention mechanism to keep technical talent from departing for rival firms.

This transaction marks the second time the four-year-old company has authorized a liquidity program for staff. ElevenLabs previously conducted a $100 million tender offer at a $6.6 billion valuation in September 2025.

Founded in 2022 and operating out of New York and London, ElevenLabs develops tools for generating synthetic human voices and sound effects. The new $22 billion valuation places the company among Europe's most valuable privately held startups.