ElevenLabs Announces Tender Offer for Employees and Executives

ElevenLabs is conducting a $100 million tender offer based on a $6.6 billion valuation to provide liquidity to its employees. The offer is led by Sequoia and ICONIQ, with participation from major investors including a16z, Smash Capital, and World Innovation Lab. This represents double the Series C valuation from 9 months ago.

The company continues its rapid growth trajectory. It surpassed $200 million in Annual Recurring Revenue (ARR) earlier this year and is expected to exceed $300 million by year-end. In particular, enterprise revenue has grown over 200% over the past year, now accounting for nearly half of total revenue.

The company continues to innovate on the technology and product fronts as well:

• Agents Platform: Supports developers and businesses in building over 2 million conversational AI voice agents that can interact across web, phone, and app.
• Creative Platform: Launched Eleven v3, its most expressive TTS model, and Eleven Music, which generates music from natural language prompts.

ElevenLabs' team has grown from 70 people a year ago to over 330 today, as it continues to pursue its mission of making interactions between technology and humans feel natural.