ElevenLabs' valuation climbs to $22 billion

What happened?

ElevenLabs, which operates in AI voice technology, completed a $300 million secondary share sale that allowed employees to sell part of their vested shares to investors. The deal pushed the company's valuation to $22 billion.

The secondary sale is not new capital going directly into the company's coffers; it means existing shareholders are selling stakes. The deal was led by Wellington Management and T. Rowe Price. According to the Financial Times, institutional investors such as Goldman Sachs and Singapore's sovereign wealth fund GIC also participated.

Doubled in a short time

The company had raised $500 million in February 2026 in a round led by Sequoia Capital, reaching an $11 billion valuation at the time. With the new valuation, ElevenLabs' value has doubled in just a few months.

Company and products

Founded in 2022 by Mati Staniszewski and Piotr Dąbkowski, ElevenLabs develops AI models that turn text into natural speech, along with voice cloning, dubbing and AI-powered voice agents. Its customers include Deutsche Telekom, KPN, Stripe and Klarna, as well as the governments of Ukraine and Greece. The company operates in 20 countries with about 800 employees.

Revenue and IPO plans

ElevenLabs' annualized recurring revenue rose from around $330 million at the start of the year to over $600 million. The company recently introduced its v4 and v4 Turbo models, which offer more advanced expression control, low latency and support for more than 90 languages. CEO Mati Staniszewski aims to get the company ready for an IPO within the next two to two and a half years.