The AI That Clones Voices Is Now Worth $22 Billion
Its lifelike voices already narrate audiobooks and ads — and investors are betting big.
ElevenLabs, the four-year-old startup known for generating ultra-realistic human voices and sound effects, just let employees cash out a portion of their vested equity at a $22 billion valuation — double the $11 billion valuation it hit when it raised $500 million in February. The $300 million tender offer, co-led by Wellington and T. Rowe Price, gave employees a chance to sell their shares to investors. It's the second time the New York- and London-based company has authorized a secondary transaction for employees; it previously held a $100 million tender at a $6.6 billion valuation in September 2025. The move fits a growing trend among fast-growing AI startups using employee liquidity as a retention tool to keep staff from leaving for competitors. With its new valuation, ElevenLabs joins the ranks of Europe's most valuable startups.
- ElevenLabs makes AI software that generates ultra-realistic human voices and sound effects from text.
- The company is now valued at $22 billion — double its worth in February — after letting employees sell some shares to investors.
- The same technology that narrates audiobooks can also clone a real person's voice, raising fraud and misinformation concerns.
Why It Matters
AI voices are already in your audiobooks, ads and phone calls — and fake voices are getting harder to spot.