ElevenLabs Valuation Doubles to $22 Billion in $300 Million Employee Tender Offer

Voice AI startup ElevenLabs said on Sept. 30, 2026, it will allow employees to sell vested equity at a $22 billion valuation, double the $11 billion mark set during its $500 million raise in February. The $300 million tender offer was co-led by Wellington Management and T. Rowe Price, institutional investors that typically hold private positions through an eventual IPO. It marks the company's second employee liquidity event, following a $100 million tender at a $6.6 billion valuation in September 2025. Founded in 2022, ElevenLabs develops ultra-realistic synthetic voices and sound effects. The New York- and London-based company is using employee liquidity as a retention tool, part of a broader trend among fast-growing AI startups seeking to limit departures to competitors.