AI BriefingElevenLabs reaches $22bn valuation after $300M employee tender
Key point
The $300 million tender offer doubles ElevenLabs' valuation from its February Series D round.
Details
ElevenLabs has closed a $300 million employee tender offer, valuing the company at $22 billion. This represents a doubling of its valuation from the Series D round in February, led by institutional investors Wellington and T. Rowe Price.
Growth and Enterprise Adoption
The company attributes this growth to the expansion of its ElevenAgents platform, with enterprise now accounting for 55% of revenue. Since February, ElevenAgents has seen its Annual Recurring Revenue (ARR) increase by more than 3x, while handling over 15 million conversations weekly.
Key adoption metrics include:
- Usage in daily operations at five of the world’s ten largest tech companies, five of the ten largest insurers, and four of the ten largest telecoms.
- Voice agents resolving issues 31% faster than chat agents on average.
- A doubling of companies rolling out multichannel support since February.
New Models and Strategy
Alongside the financial news, ElevenLabs released Eleven v4 and v4 Turbo, described as its fastest and most emotive text-to-speech models yet. The company’s strategy focuses on owning the full stack—from research to deployment—to optimize interactions for specific industries like healthcare, finance, and government.
New investors in the tender include EQT, Goldman Sachs, GIC, OTPP, Sapphire Ventures, and BDT & MSD, joining existing backers such as Andreessen Horowitz and Lightspeed.
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