AI voice startup ElevenLabs pushes global expansion as it gears up for an IPO

LONDON — ElevenLabs, a London-based startup that specializes successful generating synthetic voices done artificial intelligence, has revealed plans to beryllium IPO-ready wrong 5 years.

The institution told CNBC it is targeting large planetary enlargement arsenic it prepares for an archetypal nationalist offering.

"We expect to physique much hubs successful Europe, Asia and South America, and conscionable support scaling," Mati Staniszewski, ElevenLabs' CEO and co-founder, told CNBC successful an interrogation astatine the firm's London office.

He identified Paris, Singapore, Brazil and Mexico arsenic imaginable caller locations. London is presently ElevenLabs' biggest office, followed by New York, Warsaw, San Francisco, Japan, India and Bangalore.

Staniszewski said the eventual purpose is to get the institution acceptable for an IPO successful the adjacent 5 years.

"From a commercialized standpoint, we would similar to beryllium acceptable for an IPO successful that time," helium said. "If the marketplace is right, we would similar to make a nationalist institution … that's going to beryllium present for the adjacent generation."

Founded successful 2022 by Staniszewski and Piotr Dąbkowski, ElevenLabs is an AI dependable procreation startup that competes with the likes of Speechmatics and Hume AI.

The institution divides its concern into 3 main camps: consumer-facing dependable assistants, integrations with corporates specified arsenic Cisco, and tailor-made applications for circumstantial industries similar wellness care.

Staniszewski said the steadfast hasn't yet decided wherever it could list, but that this determination volition mostly remainder connected wherever astir of its users are located astatine the time.

"If the U.K. is capable to commencement accelerating," ElevenLabs volition see London arsenic a listing destination, Staniszewski said.

The metropolis has faced criticisms from entrepreneurs and task capitalists that its banal marketplace is unfavorable toward high-growth tech firms.

For example, Deliveroo, whose shares tanked astir 30% erstwhile the institution went public, was precocious acquired by U.S. nutrient transportation rival DoorDash for adjacent to $4 billion.

Meanwhile, British wealth transportation firm Wise last month said it plans to determination its superior listing determination to the U.S.,

ElevenLabs was valued astatine $3.3 cardinal pursuing a caller $180 cardinal backing round. The institution is backed by the likes of Andreessen Horowitz, Sequoia Capital and ICONIQ Growth, arsenic good arsenic firm names similar Salesforce and Deutsche Telekom.

Staniszewski said his startup was unfastened to raising much wealth from VCs, but it would beryllium connected whether it sees a valid concern need, similar scaling further successful different markets. "The mode we effort to rise is precise overmuch like, if there's a stake we privation to take, to accelerate that stake [we will] instrumentality the money," helium said.