AI voice startup ElevenLabs announced it has reached a valuation of $22 billion through a $300 million employee equity sale program, doubling its $11 billion valuation from its $500 million funding round in February this year. The deal, co-led by Wellington and T. Rowe Price, allows employees to sell a portion of their vested equity, a common strategy for AI startups to retain talent. This is the second employee equity sale for ElevenLabs in four years, with the previous one occurring in September 2025 at a valuation of $6.6 billion.