ElevenLabs has closed a $300M employee tender offer that doubles its valuation to $22B, chief executive Mati Staniszewski said.
Wellington and T Rowe Price led the secondary sale, in which existing investors and staff sold stock rather than the company raising new money. ElevenLabs raised $500M in a primary Series D in February at an $11B valuation.
The round brought new backers EQT, Goldman Sachs, GIC, OTPP, Sapphire Ventures and BDT & MSD alongside existing investors including Andreessen Horowitz, Lightspeed and Iconiq.
Such share sales give staff liquidity without an IPO or a takeover, and this is not the company’s first. It signals confidence and serves as a retention tool in a fierce talent market.
Staniszewski tied the raise to voice agents, which enterprises and governments are deploying for customer service and public services. He said AI should interact the way people do, and that the company wants workers to share in the value they help create.
The valuation leap mirrors the wider AI capital boom, but voice is also getting crowded. Rivals are shipping faster, cheaper speech models, and regulators are watching synthetic audio closely. ElevenLabs will need product velocity to justify a price tag that doubled in eight months.
