AI Voice Unicorn ElevenLabs in Talks for Secondary Share Tender Offer, Valuation May Reach $22 Billion

According to a report by Jinse Finance, sources revealed that artificial intelligence voice startup ElevenLabs is in early discussions with investors to allow employees and early investors to sell shares through a secondary share tender offer. This transaction is expected to be completed by September 2026, with a valuation potentially reaching approximately $22 billion. This figure indicates that ElevenLabs' valuation has doubled again in just five months. In February 2026, ElevenLabs reached a valuation of $11 billion during a $500 million funding round led by Sequoia Capital, Andreessen Horowitz, and Iconiq. At the beginning of 2025, its valuation was only $3.3 billion. Founded in 2022, ElevenLabs specializes in developing high-quality, multilingual, realistic voice cloning software. As of May 2026, ElevenLabs' annual recurring revenue (ARR) has surpassed $500 million, and it has established commercial partnerships with global enterprises such as Deutsche Telekom, Boston Consulting Group, and Revolut. Despite facing fierce competition from giants like OpenAI and Google, investors continue to show strong interest in vertical voice AI focused on specific domains. ElevenLabs declined to comment on the rumors.