ElevenLabs valuation doubles in a year as employee tender completes
ElevenLabs doubled its valuation to $22bn via an employee tender; existing holders sold stock and the company raised no new primary money.
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ElevenLabs has completed a $300m employee tender offer at a doubled $22bn valuation.
CEO Mati Staniszewski announced the closing on X on September 30; per Tech.eu, Wellington and T Rowe Price led the offer, with EQT, Goldman Sachs and GIC investing for the first time. In February the company raised $500m in a Series D at an $11bn valuation.
A tender offer is existing holders selling shares to new investors, not new money into the company. Note: Tech.eu's text gives the amount as $300m in one line and £300m in another; the company's own post is the reference.