ElevenLabs’ valuation doubles to $22 billion on surging AI voice-agent demand

ElevenLabs said on Wednesday it had completed a $300 million employee tender offer valuing the AI voice generation startup at $22 billion, twice the valuation it secured in its February funding round.

The tender was led by Wellington and T. Rowe Price, with participation from existing backers such as Andreessen Horowitz and Lightspeed, and new investors including EQT and Goldman Sachs.

Unlike a conventional fundraising round, a tender offer allows employees and existing shareholders to sell their stocks to investors, providing liquidity without necessarily raising new capital.