ElevenLabs eyes $22B valuation in staff share sale, doubling its February mark
What's the deal? ElevenLabs is in early talks with investors about a secondary share sale that would value the AI voice startup at roughly $22 billion, Bloomberg reported. The deal, expected by September 2026, would let employees and early backers sell shares — not raise new capital.
Why now? The proposed price doubles the $11 billion valuation ElevenLabs set in February 2026, when it closed a $500 million Series D led by Sequoia Capital, with backing from Andreessen Horowitz, BlackRock, NVIDIA, and ICONIQ. That itself followed a $6.6 billion employee tender in September 2025.
The numbers: ElevenLabs reported roughly $500 million in annual recurring revenue by early 2026, with clients including Deutsche TelekomDealroom has a profile for this one. Try Dealroom →, Boston Consulting GroupDealroom has a profile for this one. Try Dealroom →, and Revolut. Total funding now exceeds $780 million.
Founded in 2022 by Mati StaniszewskiDealroom has a profile for this one. Try Dealroom → and Piotr DabkowskiDealroom has a profile for this one. Try Dealroom →, the company builds AI tools that generate lifelike voices in dozens of languages. It competes with OpenAI and Google, both of which have launched voice replication products.
What's the endgame? A tender offer lets private companies set a fresh valuation and give staff liquidity without the disclosures of a public listing. Staniszewski has said the company aims to be ready for an IPO within two to three years.
What could go wrong? The reporting is preliminary and single-sourced, and terms could shift. It does not name the buy-side investors or how much stock employees can sell.
The signal: If the deal lands as described, it shows investors are willing to reprice voice AI's category leader at a sprint — tripling ElevenLabs' valuation in under a year — and sets the ceiling rivals must negotiate against.
Read more: Tech Funding News, Bloomberg
