ElevenLabs, a London-based startup that builds AI voice tools, said on September 30 that it had completed a $300 million employee tender offer led by Wellington and T. Rowe Price, valuing the company at $22 billion. The deal comes as demand for AI voice agents grows.

The secondary deal lets employees and existing shareholders sell stock to investors without the company necessarily raising new capital. It follows ElevenLabs’ February series D round, which valued the startup at $11 billion after a $500 million raise.

Founded in 2022 by Piotr Dabkowski and CEO Mati Staniszewski, ElevenLabs said its agents now handle more than 15 million conversations a week, up 3x from February.

The agents process refunds, renew insurance policies, and book appointments. The company said in May that it had crossed $500 million in annual recurring revenue.

Existing backers Andreessen Horowitz and Lightspeed participated, alongside new investors EQT and Goldman Sachs.

The deal comes as secondary liquidity becomes more visible across private AI companies. OpenAI changed rules for current and former staff stock sales in 2024.

🔗 Source: Reuters

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