What happened in this Tech story?

AI voice synthesis startup ElevenLabs has set a $22 billion valuation through a $300 million employee tender offer, doubling its worth from $11 billion in February and cementing its place among Europe's most valuable startups.

What is a key fact in this story? (1)

**ElevenLabs** announced a $300 million tender offer letting employees cash out vested equity at a $22 billion valuation, doubling the $11 billion mark it set when raising $500 million in February 2025.

What is a key fact in this story? (2)

Institutional investors **Wellington** and T. Rowe Price co-led the transaction, a signal they intend to retain shares through an eventual public listing.

AI voice startup ElevenLabs doubles valuation to $22B — SkimNews

By TechCrunch · Summarized & edited by Kapil Samant · 2026-09-30

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ElevenLabs announced a $300 million tender offer letting employees cash out vested equity at a $22 billion valuation, doubling the $11 billion mark it set when raising $500 million in February 2025.
Institutional investors Wellington and T. Rowe Price co-led the transaction, a signal they intend to retain shares through an eventual public listing.
The $300 million offer is ElevenLabs' second employee liquidity event, following a $100 million tender at a $6.6 billion valuation in September 2025.
Founded in 2022, ElevenLabs generates ultra-realistic synthetic human voices and sound effects and is headquartered in New York and London.
Tender offers like this have become a retention tool across fast-growing AI startups, letting staff realize paper gains without waiting for an IPO.

Why it matters: ElevenLabs' valuation jumped from $6.6 billion to $22 billion in roughly eight months, putting the four-year-old voice AI startup in rarefied European territory. Backed by Wellington and T. Rowe Price—both of whom typically hold pre-IPO positions—the structure gives the company a retention lever while laying groundwork for a future public listing.