Home / Business and Economy / AI Audio Giant Hits $22B Valuation
AI Audio Giant Hits $22B Valuation
30 Sep
Summary
- ElevenLabs now valued at $22 billion after a stock sale.
- Company partnered with Universal Music Group on AI music platform.
- Raised $500 million in Series D funding in February 2026.
As of September 30, 2026, ElevenLabs, a prominent AI audio research and product company, has announced a new valuation of $22 billion. This significant milestone was achieved following a tender offer stock sale, as reported on Wednesday, September 30, 2026. Existing investors and employees participated in the sale of $300 million worth of stock.
London-based ElevenLabs is rapidly establishing itself as a major competitor in the AI music space. In September 2026, the company announced a strategic partnership with Universal Music Group (UMG) to co-create an AI-powered music platform. This collaboration aims to allow fans to remix and mash up music from UMG artists, utilizing ElevenLabs' advanced AI voice re-creation technology for personalized vocal experiences.
This UMG partnership expands ElevenLabs' existing music collaborations, which include agreements with Merlin, Kobalt, and SourceAudio. Since its launch in 2022, ElevenLabs has secured major voice partnerships with actors like Michael Caine and Matthew McConaughey. The company previously raised $500 million in its Series D funding round in February 2026, which valued it at $11 billion. By May 2026, ElevenLabs reported surpassing $500 million in average annual return (ARR).
