ElevenLabs valuation doubles to $22B as employees sell shares in $300M tender offer

On October 1, 2026, AI voice company ElevenLabs announced it will allow employees to sell a portion of their vested equity at a $22 billion valuation, doubling the $11 billion valuation reached during a funding round in February 2026. The $300 million tender offer was co-led by Wellington and T. Rowe Price, two large institutional investors that typically back private companies with the intention of holding the stock after an IPO.

This marks the second time ElevenLabs has provided employees with a secondary liquidity opportunity. In September 2025, the company completed a $100 million tender offer at a $6.6 billion valuation. Employee liquidity arrangements have become a growing trend among fast-growing AI startups as a retention tool to prevent staff from leaving for competitors.

Founded in 2022 and headquartered in New York and London, ElevenLabs is known for generating highly realistic human voices and sound effects. The company raised $500 million in February 2026 at an $11 billion valuation. With the new valuation, it joins the ranks of Europe's most valuable startups.