ElevenLabs, the AI-powered voice cloning startup, is allowing employees to sell shares at a valuation of $6.6 billion—twice its previous worth.
The company had last raised $180 million in January at a $3.3 billion valuation. As AI startups compete fiercely for top talent, more of them are enabling staff to cash out through stock sales as a retention and recruitment strategy.
According to reports, ElevenLabs’ tender offer will allow employees who have been with the company for at least a year to sell up to $100 million worth of shares. The move will also enable more investors to increase their stakes in the firm.
The deal is being led by Sequoia Capital and Iconiq Growth, with participation from Andreessen Horowitz and other investors, sources said.
Separately, OpenAI is also in early talks for a similar stock sale that could let employees cash out and value the company at around $500 billion, it was reported.
Citing ElevenLabs CEO Mati Staniszewski, the report noted that the company’s headcount has surged to 331 employees, up from just 77 a year ago. He added that annualized recurring revenue doubled from $100 million in October 2024 to $200 million within 10 months, and the company aims to touch $300 million by year-end.
Founded by Piotr Dabkowski (formerly at Google) and Mati Staniszewski (ex-Palantir), ElevenLabs has rapidly grown into one of the most prominent players in the AI voice technology space.
