ElevenLabs Doubles Valuation to $22 Billion After $300 Million Stock Sale
Updated
Updated · Financial Times · Sep 30
ElevenLabs Doubles Valuation to $22 Billion After $300 Million Stock Sale
1 articles · Updated · Financial Times · Sep 30
Summary
$300 million of ElevenLabs stock sold by existing investors and employees in a tender led by Wellington and T Rowe Price lifted the AI voice start-up’s valuation to $22 billion.
The secondary deal brought in long-term backers including Goldman Sachs and GIC, while giving employees liquidity as ElevenLabs competes with larger AI labs for researchers.
$22 billion is double the company’s February valuation, when it raised $500 million, and puts it among the 10 most valuable AI labs outside China, roughly alongside Mistral’s recent €21 billion valuation.
Founded in 2022 at a $9 million valuation, ElevenLabs now has 800 staff across 20 countries, builds its own voice models and infrastructure, and says it aims to be IPO-ready within two to two-and-a-half years.