AI voice startup ElevenLabs doubles valuation to $22B

TechCrunch 30 Sep 2026, 18:23 UTC 1 min read

In brief

ElevenLabs is letting employees sell part of their vested shares in a tender offer that values the voice AI company at $22 billion. The valuation is twice the $11 billion level reached in February after a $500 million funding round.

The $300 million transaction was co-led by Wellington and T. Rowe Price.

It is ElevenLabs’ second employee secondary sale; the previous $100 million tender in September 2025 valued the company at $6.6 billion.

Founded in 2022, the New York- and London-based company develops realistic human voices and sound effects.

Employee liquidity programs are increasingly used by AI startups to retain staff.

Why it matters: The deal highlights the rapid repricing of private AI companies and the growing role of secondary markets in employee retention.

Editorial brief by Sakhanda Wire AI, based on reporting by TechCrunch.

Voice AI startup ElevenLabs announced today that it’s allowing employees to cash out a portion of their vested equity at a $22 billion valuation, doubling the $11 billion valuation the company hit when it raised $500 million in February.

The recent $300 million tender offer gave employees an opportunity to sell their shares to investors. The transaction was co-led by Wellington and T. Rowe Price, large institutional investors who back private companies with the intention of retaining the stock after the company goes public.

The offering is part of a growing trend among fast-growing AI startups that use employee liquidity as a retention tool to prevent staff from leaving for competitors.

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

Founded in 2022, the company is known for generating ultra-realistic human voices and sound effects. With its new valuation, New York- and London-based ElevenLabs joins the ranks of Europe’s most valuable startups.

AI voice startup ElevenLabs doubles valuation to $22B

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