ElevenLabs valued at $22 billion after $300 million share sale

ElevenLabs has been valued at $22 billion after existing investors and employees sold $300 million in shares through a tender offer led by Wellington and T. Rowe Price, according to reports and company information. The valuation is double the $11 billion assigned to the AI voice company in its February financing, though the transactions differ: the latest figure comes from a secondary share sale, not a new fundraising round for the company. A tender offer allows shareholders to sell existing shares. In this transaction, the sellers included employees and existing investors, while the buyers included institutional investors. The reported sale gives some shareholders an opportunity to realize value from their holdings without an initial public offering. The available information does not specify how the $300 million was divided among sellers or disclose detailed terms behind the valuation. Chief Executive Mati Staniszewski said the secondary transaction helped bring in long-term institutional investors, including Goldman Sachs and Singapore’s GIC, and supported efforts to hire and retain AI researchers. The reports do not detail how much either investor put into the transaction.