ElevenLabs, the voice AI startup, has announced that employees can now cash out a portion of their vested equity at a valuation of $22 billion. This represents a significant increase, doubling the $11 billion valuation the company achieved when it raised $500 million in February.
The recent $300 million tender offer gave staff the opportunity to sell their shares to investors. Wellington and T. Rowe Price co-led this transaction as large institutional investors who intend to retain the stock with the goal of holding it until the company goes public.
This offering is part of a growing trend among fast-growing AI startups that utilize 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 its employees. The company previously held a $100 million tender at a $6.6 billion valuation in September 2025.
Founded in 2022, the company is recognized for generating ultra-realistic human voices and sound effects. With this new valuation, New York and London-based ElevenLabs joins the ranks of Europe’s most valuable startups.
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