ElevenLabs

London-headquartered voice AI pioneer ElevenLabs has completed a $300 million (£225 million) employee secondary tender offer, doubling its company valuation to $22 billion (£16.5 billion).

Summary of transaction details:

• Transaction Size & Valuation: $300 million employee liquidity tender offer at a $22 billion valuation (doubling its $11 billion valuation set during its $500m Series D led by Sequoia in February 2026).
• Sector: DeepTech & AI / Conversational AI / Voice Synthetic Intelligence.
• Co-Lead Institutional Investors: Wellington Management and T. Rowe Price.
• New Institutional Participants: Goldman Sachs, EQT, GIC (Singapore's Sovereign Wealth Fund), Ontario Teachers' Pension Plan (OTPP), Sapphire Ventures, and BDT & MSD.
• Follow-on Backers: Andreessen Horowitz (a16z), Lightspeed Venture Partners, ICONIQ Growth, D.E. Shaw, Evantic, DISRUPTIVE, and Alkeon.
• Key Entities: Target: ElevenLabs (Eleven Labs Ltd); Key Founders: Mati Staniszewski (CEO, ex-Palantir), Piotr Dabkowski (CTO, ex-Google ML engineer).
• Location: London, UK (Global HQ), with global operations spanning 800+ employees.

Note: Founded in 2022 by Polish entrepreneurs Mati Staniszewski and Piotr Dabkowski, ElevenLabs has evolved from a text-to-speech audio tool into a full-stack conversational voice AI platform. Designed to let software interact via natural human speech across 90+ languages, the platform’s core expansion is driven by its enterprise solution, ElevenAgents. Large corporate and government clients—including Stripe, Deutsche Telekom, Admiral Insurance, and the governments of Ukraine and Greece—now deploy ElevenLabs voice agents across 15 million weekly conversations to handle insurance renewals, telecom plan upgrades, and healthcare scheduling. Enterprise clients account for 55% of total revenue, with ElevenAgents ARR more than tripling since early 2026. This $300 million secondary transaction was structured as a liquidity event for employees and early shareholders without issuing primary shares, solidifying ElevenLabs alongside France's Mistral ($24 billion valuation) as Europe's premier AI scale-up.