AI voice startup ElevenLabs doubles valuation to $22B
AI voice startup ElevenLabs has reached a $22 billion valuation following a secondary share sale for employees. This move is part of a broader trend among AI companies to use equity liquidity as a retention strategy in a competitive talent market.
Why it matters
The massive valuation underscores the intense investor interest in generative AI and the high stakes involved in retaining specialized engineering talent.
Voice AI startup ElevenLabs announced today that it’s allowing employees to cash out a portion of their vested equity at a $22 billion valuation, doubling the $11 billion valuation the company hit when it raised $500 million in February.
The recent $300 million tender offer gave employees an opportunity to sell their shares to investors. The transaction was co-led by Wellington and T. Rowe Price, large institutional investors who back private companies with the intention of retaining the stock after the company goes public.
The offering is part of a growing trend among fast-growing AI startups that use employee liquidity as a retention tool to prevent staff from leaving for competitors.
This is the second time the four-year-old ElevenLabs has authorized a secondary transaction for employees. The company previously held a $100 million tender at a $6.6 billion valuation in September 2025.
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