ElevenLabs Doubles Its Valuation to $22 Billion

ElevenLabs has doubled its valuation to $22 billion. The company was worth $11 billion in February 2026, and $6.6 billion back in September 2025. The new money did not come from selling fresh shares. It came through a $300 million tender offer from Wellington and T. Rowe Price. Employees sold part of their stock options, and the deal is three times larger than last year's $100 million tender.

The company is paying employees real cash before any stock exchange listing. Tender offers like this have become a normal way for AI startups to keep their teams in place without going public. ElevenLabs builds voice models, and a valuation like this signals that the market for speech synthesis and voice agents has grown into something real, not just a niche for demos. I don't use voice models heavily in my own projects yet, so I can't personally vouch for the quality of their latest version.