ElevenLabs doubles its valuation to $22B in a $300M tender

ElevenLabs, the London-based maker of AI voice software, is now valued at $22 billion after a $300 million employee tender offer, the company said on September 30, 2026. That is double the $11 billion it was valued at in February. The jump reflects how fast companies are putting AI voice agents in front of their customers.

A tender offer lets employees and early shareholders sell some of their shares to new investors. The company itself does not raise fresh money for operations. Staff get a way to cash in some shares, and the sale sets a new price on the company.

Who bought in

Wellington and T. Rowe Price led the tender, according to Reuters' report, carried by Euronext. Existing backers Andreessen Horowitz and Lightspeed took part. EQT and Goldman Sachs joined as new investors.

Unite.AI lists a longer group of new backers, including GIC, OTPP, Sapphire Ventures and BDT & MSD. It also names existing investors ICONIQ, D.E. Shaw and Alkeon among those taking part.

The valuation has climbed quickly. Unite.AI reports that an earlier tender in September 2025 valued ElevenLabs at $6.6 billion. In February 2026, the company raised $500 million in a Series D round at $11 billion, Reuters reports.

What is driving the price

The growth comes from voice agents, AI systems that hold spoken conversations and complete tasks. ElevenLabs sells them under the name ElevenAgents. The company's announcement says they now handle more than 15 million conversations a week, three times February's level. Reuters puts the February figure at 5 million.

ElevenLabs gave these figures:

Measure	Figure
Weekly agent conversations	15 million+, up 3x since February
Annual recurring revenue	Up 3x since February
Share of revenue from enterprises	55%
Languages supported	90+
Employees	800+

Annual recurring revenue is the yearly value of a company's subscription and contract income.

The agents do ordinary customer-service work. Reuters says enterprises and governments use them to process refunds, renew insurance policies and book appointments. Unite.AI names Stripe, Deutsche Telekom, DoorDash's SevenRooms and Admiral as customers, plus government work in Ukraine and Greece.

ElevenLabs says its technology runs at 5 of the top 10 tech companies, 5 of the top 10 insurers and 4 of the top 10 telecoms. It also claims its voice agents resolve customer issues 31% faster than chat-based agents. That figure comes from the company itself.

A four-year-old company

Piotr Dabkowski and Mati Staniszewski founded ElevenLabs in London in 2022, and Staniszewski is chief executive. Its core technology is text-to-speech, software that turns written text into natural-sounding speech.

"We're already seeing rapid adoption of expressive voice agents by enterprises and governments," Staniszewski said, according to Reuters.

What this means for developers

Expect ElevenLabs to be around for a while. A $22 billion price backed by Wellington, T. Rowe Price and Goldman Sachs shows strong investor confidence. For teams choosing a voice platform, that lowers the risk of building on a vendor that disappears. It does not lock in today's prices.

Test the 31% claim on your own calls. Before replacing a chat bot with a voice agent, run both on the same set of real support requests. Compare resolution time, escalation rate and customer complaints, not the vendor's headline number.

Price the whole call, not just the voice. A phone agent can add costs a chat bot does not have, such as telephony and transfers to a human. Add them up before committing.

Check language support for your markets. ElevenLabs says it covers more than 90 languages. Listen to the voices in each language you plan to ship, because quality can vary a lot between them.

Plan for a human handoff. Refunds and insurance renewals are now common agent tasks, but they touch money and contracts. Build a clear path to a person, and keep logs of what the agent said and did.