ElevenLabs has closed a $300 million employee tender offer that values the AI audio company at $22 billion, double the valuation it received in its Series D financing in February 2026. Wellington Management and T. Rowe Price led the transaction.
The tender is a secondary transaction that provides liquidity to employees and existing shareholders rather than raising new primary capital for ElevenLabs. New investors participating in the transaction included EQT, Goldman Sachs, GIC, Ontario Teachers’ Pension Plan, Sapphire Ventures and BDT & MSD Partners. Existing investors including Andreessen Horowitz, Lightspeed Venture Partners, ICONIQ, D.E. Shaw, Evantic, Disruptive and Alkeon Capital also participated.
Founded in 2022 by Mati Staniszewski and Piotr Dąbkowski, ElevenLabs develops generative AI technology for speech, audio and conversational agents. Its products include ElevenAgents for deploying voice and chat agents, ElevenCreative for creating and editing AI-generated media, and ElevenAPI for developers accessing its AI audio models.
The company said enterprise customers now account for 55% of its revenue. ElevenAgents handles more than 15 million conversations each week, around three times the level recorded in February, with deployments spanning customer support, sales and other business operations. Customers cited by ElevenLabs include Stripe, Deutsche Telekom, SevenRooms, Admiral, Customers Bank and Cadence, alongside government deployments in Ukraine and Greece.
The transaction follows ElevenLabs’ $500 million Series D completed in February 2026, which valued the company at $11 billion. That financing was led by Sequoia Capital.
ElevenLabs also recently released Eleven v4 and Eleven v4 Turbo, its latest text-to-speech models. Both support more than 90 languages and are available through ElevenAgents, ElevenCreative and ElevenAPI.
