ElevenLabs completes $300M tender at $22B valuation

ElevenLabs makes software that turns written text into human-sounding speech, including voice-agent tools for enterprises and governments. The company completed a $300 million employee tender offer at a $22 billion valuation on September 30, according to Tech.eu and Sifted.

According to Tech.eu, employees and existing investors sold shares in the tender, which Wellington and T Rowe Price led. The publication said ElevenLabs had conducted similar tenders before to give employees liquidity, and several institutions entered its investor base for the first time through this offer.

The core workflow starts with text and ends with spoken audio. A business or public agency can use ElevenLabs’ models to render scripted material or a voice agent’s generated response, then deliver that speech to a consumer or citizen. That removes the need to record every possible response in advance.

ElevenLabs said enterprises and governments were already deploying expressive voice agents. Chief Executive Mati Staniszewski also pointed to two new text-to-speech models released alongside the company’s broader AI platform.

The $22 billion price is twice the $11 billion valuation attached to ElevenLabs’ $500 million primary Series D in February, Tech.eu reported. That earlier financing put new capital into the company; the tender instead provided liquidity to current holders. The valuation therefore doubled in a little over six months without another $300 million going onto ElevenLabs’ balance sheet.