ElevenLabs has announced a $100 million employee tender offer, enabling team members to realize liquidity at a company valuation of $6.6 billion—twice the value of its Series C round just nine months ago. The offer is led by existing investors Sequoia and ICONIQ, with additional participation from Andreessen Horowitz, Smash Capital, World Innovation Lab, and other insiders. This move reflects strong investor confidence in ElevenLabs’ trajectory and long-term vision.
The tender offer is designed to reward the company’s growing team, which has expanded from 70 to over 330 employees in the past year. ElevenLabs views liquidity as a strategic tool to align its workforce around the goal of building a generational company, while recognizing the value its employees have helped create.
Founded three years ago, ElevenLabs has seen rapid growth, surpassing $200 million in annual recurring revenue earlier this year and projecting to exceed $300 million by year-end. The company is nearing a balanced revenue split between enterprise and self-serve customers, with enterprise revenue alone growing more than 200% over the past year.
ElevenLabs technology is now used across industries—from customer support and education to entertainment and scheduling—by companies including Cisco, Epic Games, Adobe, and NVIDIA. A key driver of this adoption is the ElevenLabs Agents Platform, which enables developers and enterprises to build and deploy over two million conversational agents across web, phone, and app environments. These agents integrate seamlessly with existing systems and offer robust monitoring and testing capabilities.
The company continues to invest heavily in its Creative Platform. Recent milestones include the launch of Eleven v3, its most expressive text-to-speech model to date, and Eleven Music, a generative audio model capable of producing studio-grade music from natural language prompts for commercial use.
