AI voice start-up ElevenLabs valued at $22bn after tender offer
The 2022-founded company said its AI agents now handle more than 15m customer service conversations per week. Read more: AI voice start-up ElevenLabs valued at $22bn after tender offer
AI voice start-up ElevenLabs has been valued at $22bn following a $300m employee tender offer. The UK-based company, founded in 2022, now handles over 15 million customer service conversations weekly, according to its co-founder and CEO Mati Staniszewski. The acquisition, led by Wellington and T Rowe Price, nearly doubles the valuation from a February Series D raise of $500m.
ElevenLabs aims to create AI that is intuitive, trustworthy, and capable of understanding context to interact naturally in various settings. The company's technology is utilized by five of the world's top 10 tech companies, insurers, and telecoms providers, including Stripe, Deutsche Telekom, Admiral, Stripe, and Greece and Ukraine's governments.
Its AI agents help resolve issues like refunds, insurance renewals, phone plan upgrades, healthcare appointments, and public service access. As ElevenLabs expands its conversational agent business, the company has had a significant structural advantage in research, product development, and deployment.
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