ElevenLabs announced a $300 million employee tender offer on September 30, 2026, at a $22 billion valuation—twice its February 2026 Series D valuation of $11 billion. That is about 4.1 times Suno’s $5.4 billion post-money valuation from its June 2026 Series D, but the figures come from different private transactions and do not show that ElevenLabs has four times Suno’s revenue or business performance.
What does ElevenLabs’ $22 billion valuation mean?
ElevenLabs said its September 30, 2026 employee tender offer was worth $300 million and valued the company at $22 billion. A tender offer lets eligible employees sell shares, giving them an opportunity for liquidity. The valuation is based on that private transaction; it is not a public-market capitalization. ElevenLabs’ announcement described the valuation as double the figure from its February 2026 Series D.
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In that earlier financing, ElevenLabs raised $500 million at an $11 billion valuation. The tender offer’s $22 billion figure is therefore twice its February valuation, but the two transactions are different in kind: the Series D was a funding round, while the tender was an employee share sale. ElevenLabs’ Series D announcement gives the earlier amount and valuation.
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How does ElevenLabs compare with Suno?
Suno announced in June 2026 that it raised more than $400 million in Series D funding at a $5.4 billion post-money valuation. Dividing ElevenLabs’ $22 billion by Suno’s $5.4 billion gives about 4.07, which is why the comparison is often rounded to four times. These are disclosed valuations from separate private transactions at different dates, not a matched measure of the companies’ operating results. Suno’s announcement states its financing and post-money valuation.
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| Company and transaction | Date | Amount disclosed | Valuation |
|---|---|---|---|
| ElevenLabs employee tender offer | September 30, 2026 | $300 million | $22 billion |
| ElevenLabs Series D | February 2026 | $500 million | $11 billion |
| Suno Series D | June 2026 | More than $400 million | $5.4 billion post-money |
Are the two valuations evidence that one business is larger or more successful?
No. A valuation is a transaction-based estimate of a private company’s worth, not a direct measure of revenue, profit, user numbers, or intrinsic value. The cited company announcements do not provide matched financial statements or comparable operating metrics, so they cannot establish which company is performing better financially.
What do the companies do?
ElevenLabs spans several AI audio products
ElevenLabs describes a portfolio that includes text-to-speech, music, transcription, dubbing, and conversational products. Its creator offering also covers speech, music, image, and video tools, and its September tender announcement highlighted the Eleven v4 and v4 Turbo text-to-speech models. The company overview describes its product range.
Rank #2
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- 【136GB Memory and Long Battery Life】Voice Recorder with Playback with 8GB built-in storage and includes a complimentary 128GB TF card, this digital voice recorder can hold up to 9775 hours of recordings in MP3 format or WAV format；Recorder for lectures with a built-in 1100mAh rechargeable lithium battery, this voice recorder can continuously record for up to 68 hours on a single charge, making it perfect for back-to-back meetings, interviews, or extended classroom sessions
- 【One Click Record and Save】: Our voice recorder supports one click recording and saving functions. Even when the product is in a powered-off state, simply push up the side recording button to immediately enter recording mode, and push down the recording button to save the recording. This allows for capturing as much information as possible.Easily transfer your recordings to your computer using the USB-C connection, allowing for fast and secure file management
- 【Easy-to-Use】This portable voice recorder is designed with a simple, user-friendly interface featuring a large, easy-to-read LCD screen. The voice-activated recording (VOR) feature makes hands-free operation a breeze. With one-touch recording, users can start or stop recording instantly, even during busy moments. A-B repeat function and password protection ensure that important segments are easily accessible and secure
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Its work in music has also expanded through a multi-year licensing agreement and strategic collaboration with Universal Music Group, announced on September 10, 2026. The companies said they would develop an AI music platform for fans and AI audio products for artists and songwriters. The partnership is evidence of a music initiative, not a reason to characterize ElevenLabs as solely a music-generation company. Universal Music Group’s announcement outlines the collaboration.
Suno is centered on music creation
Suno presents itself as a music-creation platform. In its June 2026 funding announcement, co-founder and CEO Mikey Shulman said: “We’ve seen Suno used by professional producers and songwriters, but also by millions of people making music for the first time – because music creation is no longer the domain of a niche few.” The announcement includes his statement and the Series D details.
Quick Recap
Best Value
- AI Transcription & Smart Summaries: Go beyond basic recording with an AI voice recorder designed to turn spoken content into organized information. The L359 supports transcription in 113 languages and can generate smart summaries, mind maps, speaker identification and Ask AI insights through the AI DVR Link app. Ideal for students, professionals and everyday note taking
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Rank #4
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- 【All-in-One Digital Recording Device】This 136GB digital voice recorder combines audio recording, file storage, and music playback in one compact device. Use it as a voice activated recorder, USB flash drive, or MP3 player for everyday work, study, and travel needs.
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- Powerful Feature: Multi-usage as a voice recorder, an USB flash drive, and a Mp3 Player. Newly developed 4-folder storage(A/B/C/D) for file management make your recording and other files more organized. Many other helpful features like password protection, A-B repeat, auto record, bookmark, ideal recorder for lectures, meetings, speeches, and interviews.
- Fast File Download: V618 can easily transfer files onto computers. A rechargeable voice recorder that can be quickly recharged, suit for students, teachers, seniors, businesspeople, writers, and bloggers
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