AI voice startup ElevenLabs has teased plans for an IPO in the next five years, as the company’s push for global expansion gets underway.
Founded in 2022 by Mati Staniszewski and Piotr Dabkowski, London-based ElevenLabs develops AI technology for synthetic voice generation, enabling publishers, content creators and other clients to transform written content into audio.
In an interview with CNBC published on Thursday, Staniszewski says the company is targeting a public float within five years. “From a commercial standpoint, we would like to be ready for an IPO in that time.”
He adds: “If the market is right, we would like to create a public company [...] that’s going to be here for the next generation.” Asked whether the company would consider listing in London, he says it would consider such a move “if the UK is able to start accelerating”.
Staniszewski’s comments come as the company lays the groundwork for international expansion. As well as London, ElevenLabs already has offices in the US, Poland, Japan and India.
“We expect to build more hubs in Europe, Asia and South America, and just keep scaling,” Staniszewski says, citing French capital Paris and locations in Brazil, Mexico and Singapore as potential future hubs.
ElevenLabs most recently raised $180m in January, bagging a $3bn valuation with the backing of Andreessen Horowitz, Nat Friedman and Daniel Gross and Sequoia Capital.
