Key Points
- AI voice startup ElevenLabs plans to be ready for an IPO within the next five years.
- The company is planning a major global expansion, with potential new offices in Europe, Asia, and South America.
- The location for the IPO is still undecided and will depend on market conditions and its customer base.
- ElevenLabs is currently valued at $3.3 billion after a recent $180 million funding round.
ElevenLabs, a fast-growing London startup that creates realistic AI-generated voices, has announced its goal to be ready for an Initial Public Offering (IPO) within the next five years. The company plans a major global expansion as it prepares for a potential initial public offering (IPO) on the stock market.
CEO and co-founder Mati Staniszewski said the company is looking to open new offices in places like Paris, Singapore, Brazil, and Mexico to scale its operations and build a lasting public company.
However, the company has not yet decided where it will list its shares. While its home base of London is a possibility, Staniszewski noted that the final decision will depend on where most of its users are located and whether the UK market becomes more friendly to high-growth tech firms. London’s stock market has recently faced criticism for being unfavorable to tech companies, with several firms opting for a U.S. listing instead.
Founded in 2022, ElevenLabs has quickly become a major player in the AI voice generation space. It provides technology for everything from consumer voice assistants to custom applications for various industries, including healthcare.
The company is already valued at $3.3 billion following a recent $180 million funding round from top-tier investors, including Andreessen Horowitz, Sequoia Capital, and Salesforce. Staniszewski added that they are open to raising more money if it helps them accelerate their growth plans in new markets.
