AI Voice Startup ElevenLabs Doubles Valuation to $22 Billion

AI voice startup ElevenLabs has doubled its valuation to $22 billion after a $300 million employee tender offer allowed staff to sell a portion of their vested equity.

The new valuation is twice the company’s $11 billion valuation from its previous funding round, showing continued investor interest in voice AI and emerging artificial intelligence companies.

ElevenLabs Expands Employee Equity Program

The tender offer was backed by institutional investors including Wellington and T. Rowe Price, which purchased employee shares as the company continues preparing for long-term growth.

Employee liquidity programs have become increasingly common among fast-growing AI startups as companies use equity sales to retain talent before a potential public offering.

ElevenLabs previously completed a $100 million employee tender offer in 2025 at a $6.6 billion valuation, giving employees another opportunity to sell vested shares through its employee tender program.

Growing Voice AI Business

Founded in 2022, ElevenLabs develops AI systems that generate realistic human voices and sound effects. The New York- and London-based company has become one of the most valuable AI startups in Europe.

The latest valuation highlights continued investor demand for companies building advanced voice and generative AI technologies.