AI voice technology startup ElevenLabs has significantly increased its valuation to $22 billion, doubling the $11 billion figure it achieved earlier this year. This valuation rise coincides with a $300 million tender offer that gave employees the option to sell a portion of their vested shares to investors. Prominent institutional firms Wellington and T. Rowe Price led the investment round, both known for backing private companies with potential public offerings in the future.

ElevenLabs, established in 2022 and headquartered in New York and London, has made a name for itself by creating highly realistic synthetic human voices and sound effects. The company’s employee tender offers are part of a growing strategy among high-growth AI startups aimed at retaining talent by providing liquidity options without waiting for an IPO. This is the second secondary transaction ElevenLabs has authorized, following a $100 million tender offer at a $6.6 billion valuation in September 2025.

The involvement of Wellington and T. Rowe Price highlights investor confidence in ElevenLabs’ long-term prospects, especially as the company prepares for potential public market entry. By enabling employees to cash out some of their equity, ElevenLabs not only rewards its workforce but also strengthens its chances of maintaining staff retention in the competitive AI sector. The tender offerings thus serve dual purposes by enhancing employee satisfaction and signaling robust growth potential to the market.

With its current valuation, ElevenLabs joins the ranks of Europe’s most valuable startups despite its relative youth. The company’s surge reflects both the explosive interest in AI voice technologies and the strategic financial moves startups are increasingly using to balance growth with talent management. CEO Mati Staniszewski’s leadership, alongside the company’s innovative technology, appears central to its rapid ascent in the evolving AI landscape.