ElevenLabs' valuation doubles to $22bn on surging AI voice-agent demand

ElevenLabs has more than doubled its valuation to $22bn after closing a $300m employee tender offer, the London-based voice AI start-up confirmed on Wednesday.

The tender was led by Wellington and T. Rowe Price, with participation from existing backers Andreessen Horowitz and Lightspeed and new investors including EQT and Goldman Sachs. The Times reports that Singapore’s sovereign wealth fund GIC also invested for the first time.

Unlike a conventional funding round, a tender offer lets employees and existing shareholders sell stock to investors, providing liquidity without raising new capital. The $22bn figure is twice the valuation ElevenLabs secured after raising $500m in a Series D round in February.

Founded in 2022 by chief executive Mati Staniszewski and Piotr Dabkowski, the company builds text-to-speech technology covering more than 90 languages. It says its voice agents now handle more than 15 million conversations a week — three times February’s level — processing refunds, renewing insurance policies and booking appointments, with enterprise now accounting for 55 per cent of revenue.

The deal lands ElevenLabs among the world’s most valuable AI labs, roughly on par with France’s Mistral, which secured a $24bn valuation in September.

“We’re already seeing rapid adoption of expressive voice agents by enterprises and governments, who are deploying them in service of consumers and citizens,” Staniszewski said.

Sources

• Reuters: “ElevenLabs’ valuation doubles to $22 billion on surging AI voice-agent demand” (30 September 2026) — https://www.reuters.com/legal/transactional/elevenlabs-valuation-doubles-22-billion-surging-ai-voice-agent-demand-2026-09-30/
• The Times: “British AI start-up ElevenLabs doubles its valuation to $22bn” (30 September 2026) — https://www.thetimes.com/business/companies-markets/article/british-ai-start-up-elevenlabs-doubles-its-valuation-to-22bn-8zd3jlp7q