ElevenLabs says existing investors and employees have sold $300M worth of stock in a tender led by Wellington and T Rowe Price and valuing the startup at $22B
Existing investors and employees at speech-generation software company sell $300mn worth of stockLinkedIn:Zachery BishopLinkedIn:Zachery Bishop:More big news today: ElevenLabs is now valued at $22B, double our Series D valuation in February. — Our agents are now handling 15M+ conversations a week, 3x more than in February. …
The transaction arrives alongside company-reported growth in conversational-agent usage, with ElevenLabs saying its agents handle more than 15 million conversations a week, three times the February level. It gives public-market investors Wellington Management and T. Rowe Price a private-company entry point without adding primary funding to ElevenLabs' balance sheet.
First-order effects
Existing ElevenLabs employees and investors receive $300M of liquidity, while Wellington Management and T. Rowe Price acquire shares at a $22B company valuation.
The sale resets ElevenLabs' private-market reference price to twice its February Series D valuation, giving shareholders a concrete mark for their holdings.
Second-order effects
A larger secondary sale makes employee liquidity a more tangible part of ElevenLabs' compensation proposition, rather than an outcome dependent solely on a future public listing or acquisition.
Wellington and T. Rowe Price's participation connects ElevenLabs' private valuation more directly to large institutional investors, increasing the importance of sustained enterprise demand for its conversational agents.
Third-order effects
Repeated secondary transactions point to a private-AI capital structure in which companies can use tender offers both to retain staff and to refresh valuations between primary financing rounds.
If enterprise agent usage continues to support such repricing, value in AI voice will be increasingly assigned to companies that combine model capabilities with high-volume deployed agent workloads.
The trend: AI application companies are using secondary liquidity and institutional investor demand to turn deployed agent usage into higher private-market valuations without relying exclusively on new primary rounds.
More big news today: ElevenLabs is now valued at $22B, double our Series D valuation in February. — Our agents are now handling 15M+ conversations a week, 3x more than in February. …
Dude, I can't believe that you got here so fast. I remember when VC's were calling me during their DD to ask what I thought about the voice space. I said write a check now, get of this call and write a check, stop wasting time, Elevenlabs is best in class period. 4 years later an…
Being part of the growth from our Series B until now has been the highlight of my career - this speed is my new normal. Grateful for the experience so far; we're just getting started. Lots more human-computer interaction to transform, with the best companies in the world as partn…
In 2022, we raised our first round at a $9 million valuation, which we announced alongside Eleven v1, our first Text to Speech model, and the first model to generate human-level speech. Four years later, as we reach our new valuation, we just released two new state-of-the-art Tex…
We just closed an employee tender offer which values @ElevenLabs at $22BN, up 2x from our Series D in February. The tender was led by Wellington and T. Rowe Price. A few words on how we got here ↓
It's been incredible to see the company grow from 6 people at Series A to today, all the while maintaining (actually accelerating) the pace of innovation and kindness that defines so many of the team members. Forever long 11.