AI voice startup ElevenLabs doubles valuation to $22B
The $300 million employee tender was co-led by Wellington and T. Rowe Price.
AI voice startup ElevenLabs has announced its valuation has doubled to $22 billion, allowing employees to cash in a portion of their vested equity. The recent $300 million tender offer gave employees the opportunity to sell shares to investors, with Wellington and T. Rowe Price leading the transaction. This move reflects the growing trend of fast-growing AI startups using employee liquidity as a retention tool to prevent staff from leaving for competitors.
ElevenLabs, founded in 2022, is known for its ultra-realistic human voices and sound effects. The company's valuation has now reached $22 billion, making it one of Europe's most valuable startups, alongside its New York and London operations.
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