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Voice AI startup ElevenLabs<\/a> announced today that it\u2019s allowing employees to cash out a portion of their vested equity at a $22 billion valuation, doubling<\/a> the $11 billion valuation the company hit when it raised $500 million in February.<\/p>\n The recent $300 million tender offer gave employees an opportunity to sell their shares to investors. The transaction was co-led by Wellington and T. Rowe Price, large institutional investors that back private companies with the intention of retaining the stock after the company goes public.<\/p>\n The offering is part of a growing trend<\/a> among fast-growing AI startups that use employee liquidity as a retention tool to prevent staff from leaving for competitors.<\/p>\n This is the second time that four-year-old ElevenLabs has authorized a secondary transaction for employees. The company previously held a $100 million tender at a $6.6 billion<\/a> valuation in September 2025.<\/p>\n Founded in 2022, the company is known for generating ultra-realistic human voices and sound effects. With its new valuation, New York- and London-based ElevenLabs joins the ranks of Europe\u2019s most valuable startups. <\/p>\n TechCrunch sat down with co-founder and CEO Mati Staniszewski last week<\/a>.<\/p>\n<\/div>\n