ElevenLabs Valuation Doubles to $22 Billion in Secondary Deal

AI voice startup ElevenLabs is now valued at $22 billion after existing investors and employees sold $300 million of stock in a secondary deal led by Wellington and T. Rowe Price. That is double its valuation from February, when the company raised $500 million.
ElevenLabs says it now has more than 800 employees across 20 countries. Its customers include Deutsche Telekom, Stripe, Revolut, Klarna and the governments of Ukraine and Greece. The company also develops and trains its own models rather than relying on OpenAI, Google or Anthropic.
ElevenLabs says it wants to be IPO-ready within the next 2 to 2.5 years. $NVDA became a strategic investor in the company in 2025.