ElevenLabs, a London-based startup focused on AI-generated synthetic voices, plans to become IPO-ready within five years as it aims for rapid international expansion.
Expanding Global Footprint
“We expect to build more hubs in Europe, Asia, and South America, and just keep scaling,” said Mati Staniszewski, ElevenLabs’ CEO and co-founder, during an interview at the company’s London office. Potential new locations include Paris, Singapore, Brazil, and Mexico. Currently, ElevenLabs’ largest office is in London, followed by New York, Warsaw, San Francisco, Japan, India, and Bangalore.
Staniszewski emphasized the company’s goal to prepare for an initial public offering within five years. “If the market is right, we would like to create a public company … that’s going to be here for the next generation,” he explained.
Listing Location Undecided
Founded in 2022 by Staniszewski and Piotr Dąbkowski, ElevenLabs competes with firms like Speechmatics and Hume AI. The company serves three main markets: consumer voice assistants, corporate integrations (including Cisco), and industry-specific applications such as healthcare.
While the exact IPO location remains undecided, Staniszewski said the decision will depend largely on where the company’s user base is strongest at that time. He noted that if the UK accelerates its appeal to tech companies, London could be a viable listing venue.
London’s stock market has faced criticism for being less favorable to high-growth tech firms, exemplified by Deliveroo’s stock struggles post-IPO and Wise’s recent decision to move its primary listing to the U.S.
ElevenLabs was valued at $3.3 billion following a recent $180 million funding round. Investors include Andreessen Horowitz, Sequoia Capital, ICONIQ Growth, Salesforce, and Deutsche Telekom.
Staniszewski said the company remains open to further venture capital funding if it identifies strategic opportunities to accelerate growth in new markets. “If there’s a bet we want to take, to accelerate that bet [we will] take the money,” he said.
Author’s Opinion
ElevenLabs’ plan to go public within five years signals strong confidence in AI voice technology and global market potential. However, with ongoing challenges around tech IPOs, particularly in London, the company’s ultimate listing location and timing will likely depend on broader economic conditions and investor appetite for high-growth AI firms.
Featured image credit: Linkedin
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