ElevenLab’s valuation doubles to $22BN, as completes $300M employee tender offer

What happened

The valuation of UK hyped AI-audio generator ElevenLabs has doubled to $22bn in less than a year, it said today, as it completed a $300m employee tender offer. ElevenLabs CEO Mati Staniszewski announced the closing of the tender offer on X, along with a progress report on ElevenLabs which made a name for itself by leveraging AI to convert text into speech which sounds like it’s being read by human voices.

The $22bn valuation (what investors price the whole company at) doubles its valuation from February when it raised $500m in a primary Series D (an early stage of company funding) funding round at an $11bn valuation. Existing investors and employees sold £300m worth of stock in the tender offer, which was led by Wellington and T Rowe Price.

ElevenLabs has carried out previous employee tender offers, as it looks to offer liquidity to employees. Shaw, Evantic, Disruptive, and Alkeon, the company said.

Key facts

• ElevenLabs CEO Mati Staniszewski — announced: the closing of the tender offer on X, along with a progress report on ElevenLabs which made a name for itself by leveraging AI to convert text into speech which sounds like it’s being read by human voices