Voice AI innovator ElevenLabs announced today that it is enabling employees to cash out a portion of their vested equity, reflecting a $22 billion valuation. This figure doubles the $11 billion valuation the company secured when it raised $500 million in February.
The recent $300 million tender offer provided employees with an opportunity to sell their shares to investors. This transaction was jointly led by Wellington and T. Rowe Price, prominent institutional investors known for backing private companies with the intent to hold stock post-IPO.
This offering aligns with a growing trend among rapidly expanding AI startups, which are increasingly using employee liquidity as a strategic retention tool to deter staff from moving to competitors.
This marks the second occasion the four-year-old ElevenLabs has approved a secondary transaction for its employees. The company previously conducted a $100 million tender offer at a $6.6 billion valuation in September 2025.
Established in 2022, ElevenLabs is renowned for its capability to generate remarkably realistic human voices and sound effects. With its updated valuation, the New York- and London-based company now stands among Europe’s most valuable startups.