ElevenLabs has become one of Europe's most valuable startups with a valuation of $22 billion

The voice artificial intelligence startup ElevenLabs has reached a valuation of $22 billion. The company closed a tender for $300 million, under which employees had the opportunity to sell a portion of their shares.

The deal was led by Wellington and T. Rowe Price. The new valuation of ElevenLabs is twice as high as the figure after the Series D round in February 2026, when the company was valued at $11 billion.

ElevenLabs attributes the growth to increased demand from businesses for conversational AI agents. Corporate clients already account for 55% of the company's revenue. The ElevenAgents platform allows companies to implement AI agents for communication with customers and employees.

ElevenLabs agents process more than 15 million conversations per week. Since February, this figure has tripled. Over the same period, the annual recurring revenue of ElevenAgents increased more than threefold.

ElevenLabs technologies are used by five of the ten largest technology companies in the world, five of the ten largest insurance companies, and four of the ten largest telecommunications companies.

As part of the latest deal, new investors in ElevenLabs also became EQT, Goldman Sachs, GIC, OTPP, Sapphire Ventures, and BDT & MSD. Among the company's existing investors are Andreessen Horowitz, Lightspeed, ICONIQ, D.E. Shaw, and Alkeon.

ElevenLabs was founded in 2022. The company currently employs more than 800 people. The startup also introduced new speech synthesis models Eleven v4 and v4 Turbo, which the company calls its fastest and most expressive models.

Source: ElevenLabs

https://elevenlabs.io/blog/tender-22bn