Business · TechCrunch AI
AI voice firm ElevenLabs doubles valuation to $22 billion
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Voice AI startup ElevenLabs announced today that it’s allowing employees to cash out a portion of their vested equity at a $22 billion valuation, doubling the $11 billion valuation the company hit when it raised $500 million in February.
Key facts
- Voice AI startup ElevenLabs announced today that it’s allowing employees to cash out a portion of their vested equity at a $22 billion valuation, doubling the $11 billion valuation the company hit
- The recent $300 million tender offer gave employees an opportunity to sell their shares to investors
- Founded in 2022, the company is known for generating ultra-realistic human voices and sound effects
- TechCrunch sat down with co-founder and CEO Mati Staniszewski last week
Summary
The recent $300 million tender offer gave employees an opportunity to sell their shares to investors. The offering is part of a growing trend among fast-growing AI startups that use employee liquidity as a retention tool to prevent staff from leaving for competitors. This is the second time that four-year-old ElevenLabs has authorized a secondary transaction for employees. Founded in 2022, the company is known for generating ultra-realistic human voices and sound effects.