ElevenLabs valuation doubles to $22 billion on voice agent demand
ElevenLabs completed a $300 million employee tender offer at a $22 billion valuation, double its February Series D. The company reported $500 million in annual recurring revenue, with expectations of approaching $1 billion.
ElevenLabs completed a $300 million employee tender offer, resulting in a valuation of $22 billion, which is double the valuation from its February Series D round where it raised $500 million. The company reported $500 million in annual recurring revenue at the beginning of 2026, with expectations of approaching $1 billion in ARR. Investors in the new round include Goldman Sachs, the Ontario Teachers Pension Plan, Lightspeed Capital, and Andreessen Horowitz. The valuation increase is attributed to surging demand for AI voice agents and the company's platform for building conversational interfaces. The tender offer allows employees to sell shares on the secondary market, a sign of company maturity and a tool for talent retention. The valuation reflects strong market confidence in the AI voice agent sector, with ElevenLabs positioned as a leader in a niche that major competitors like Google and OpenAI have not fully dominated.