Announcing an Employee Tender Offer at $6.6B valuation

This week, we are launching a tender offer to give our ElevenLabs teammates an opportunity for liquidity. We’re conducting the $100 million tender at a valuation of $6.6 billion - double our Series C valuation from just nine months ago. The tender is led by existing investors Sequoia and ICONIQ, with participation from many others including a16z, Smash Capital, World Innovation Lab & a number of other insiders. We are grateful to these investors for their continued confidence in ElevenLabs and their conviction in what we are building.

Our success is made possible by the brilliance, creativity, and commitment of the best team in the business. We feel it’s extremely important to give our people the chance to realize some of the value they’ve created and earned today. We are building for the long term with the aim of creating a generational company. Continuous liquidity opportunities will help our whole team align on that goal. 

ElevenLabs has been on an incredible journey since we founded the company three years ago. Earlier this year, we surpassed $200 million in ARR and we expect to top $300M by year end. Importantly, we’re also rapidly approaching a 50/50 revenue split between our enterprise and self-serve customers, with enterprise revenue having grown more than 200% in the last year. 

We are proud that our technology is used by businesses across every sector for a wide range of use cases - from customer support and scheduling to education and entertainment - and at companies like Cisco, Epic Games, Adobe and NVIDIA. Our momentum is heavily driven by our investments in expanding the ElevenLabs Agents Platform for conversational AI. We have already helped developers and enterprises build over 2M conversational ai voice agents that interact across web, phone, and apps with high reliability and low latency. Businesses can bring their logic with knowledge base support and connect their existing systems to our platform thanks to countless integrations and functions, while deploying the agents with seamless testing and continuous monitoring.

We have also continued investing in our Creative Platform. In the last several months alone, we launched our most expressive Text to Speech model yet, Eleven v3, and released Eleven Music, a model that generates studio-grade music from natural language prompts for broad commercial use. 

The uniquely strong support of our investors and the deep commitment of our team will allow us to continue innovating and delivering more exceptional products for our customers. That team now consists of over 330 talented individuals, up from 70 just one year ago. Having the right people on board is essential to achieving our mission of making interactions with technology as natural as those with people. 

Our work is just getting started. Voice is the future interface and we are building to ensure that ElevenLabs continues to be the voice of technology.