ElevenLabs Valued at $22B After $300M Tender Offer
ElevenLabs closed a $300 million employee tender offer led by Wellington and T. Rowe Price, lifting its valuation to $22 billion.
ElevenLabs announced on the 12th that its company valuation has risen to 22 billion dollars after closing a 300 million dollar employee tender offer.
The tender offer was led by Wellington and T. Rowe Price. New investors participating included BDT & MSD, EQT, GIC, Goldman Sachs, OTPP, and Sapphire Ventures, according to datanet.co.kr.
ElevenLabs said its AI agents process more than 15 million conversations per week, a threefold increase compared to February. ElevenAgents' annual recurring revenue also increased more than threefold over the same period.
Customer analytics showed voice agents resolved issues 31 percent faster on average than chat agents. The number of companies adopting multichannel customer support using ElevenAgents has doubled since February.
Background
In February, during its Series D funding round, ElevenLabs was valued at half of its current 22 billion dollar valuation. In 2022, the company raised its first investment at a 9 million dollar valuation and released its text-to-speech model Eleven v1. Recently, it released the TTS models Eleven v4 and v4 Turbo, along with the healthcare transcription model Scribe v2 Medical. Since the February Series D funding, companies including Stripe, Deutsche Telekom, SevenRooms, Admiral, Customers Bank, Cadence, and the governments of Ukraine and Greece have adopted ElevenAgents.
Quick answers
What is ElevenLabs' new valuation?
ElevenLabs said its valuation has risen to 22 billion dollars after closing a 300 million dollar employee tender offer.
Who led the tender offer?
The tender offer was led by Wellington and T. Rowe Price.
How many conversations do ElevenLabs' AI agents handle weekly?
ElevenLabs said its AI agents process more than 15 million conversations per week, a threefold increase compared to February.