ElevenLabs Expands Globally While Preparing for IPO
ElevenLabs, a London-based AI voice generation startup, is setting its sights on international growth as it prepares for a public debut within five years. CEO Mati Staniszewski shared with CNBC that the firm intends to scale operations by establishing new global hubs. Although London remains its largest office, the company is eyeing Paris, Singapore, Brazil, and Mexico as potential additions.
Currently, ElevenLabs maintains locations in New York, Warsaw, San Francisco, Japan, India, and Bangalore. Staniszewski noted, “We expect to build more hubs in Europe, Asia and South America, and just keep scaling.” The startup aims to ensure that it is IPO-ready within five years. Moreover, Staniszewski emphasized that ElevenLabs hopes to become a public company built for the long term. “If the market is right, we would like to create a public company … that’s going to be here for the next generation.”
IPO Plans Still Taking Shape
Founded in 2022 by Staniszewski and Piotr Dąbkowski, ElevenLabs competes with AI voice companies like Speechmatics and Hume AI. The company’s operations span three main sectors: consumer voice assistants, corporate integrations (including work with Cisco), and custom applications for industries such as healthcare.
While the goal of going public is clear, the choice of listing location remains uncertain. Staniszewski said the company is considering various options, with the decision likely hinging on user concentration. “If the U.K. is able to start accelerating,” London could be a contender, he said.
Despite its appeal as a global financial center, London has drawn criticism from tech entrepreneurs. The city’s public markets have often been seen as unfriendly to high-growth tech firms. Deliveroo’s disappointing IPO and Wise’s decision to shift its primary listing to the U.S. have contributed to this perception.
Growth Backed by Major Investors
ElevenLabs reached a valuation of $3.3 billion after its most recent $180 million fundraising round. Backers include top-tier venture capital firms such as Andreessen Horowitz, Sequoia Capital, and ICONIQ Growth. The firm also counts Salesforce and Deutsche Telekom among its supporters.
Although the company is not actively seeking more capital, it remains open to raising funds when strategically necessary. Staniszewski explained, “The way we try to raise is very much like, if there’s a bet we want to take, to accelerate that bet [we will] take the money.” Consequently, any future fundraising will depend on specific opportunities aligned with its expansion goals.
