ElevenLabs doubles valuation to $22 billion through $300 million tender offer

ElevenLabs just doubled its valuation to $22 billion without announcing a new primary funding round. The AI audio company completed a $300 million tender offer that gave employees and existing shareholders liquidity while investors repriced the business within months of its last financing.

Wellington and T. Rowe Price led the transaction, which puts the company at twice its February Series D valuation.