ElevenLabs doubles valuation to $22 billion, enables employee equity sales

Voice AI startup ElevenLabs announced today that employees can now cash out a portion of their vested equity at a $22 billion valuation, doubling the $11 billion valuation from February when the company raised $500 million. This follows a recent $300 million tender offer that allowed employees to sell shares to investors, co-led by Wellington and T. Rowe Price. The move is part of a trend among fast-growing AI startups using employee liquidity as a retention tool. ElevenLabs, founded in 2022, previously held a $100 million tender at a $6.6 billion valuation in September 2025. The company, known for its ultra-realistic human voices and sound effects, is now among Europe’s most valuable startups. The offering reflects the company’s growth and its strategy to retain talent in a competitive market.