Founded in 2022, ElevenLabs is an AI voice generation startup based in London. It competes with the likes of Speechmatics and Hume AI.<\/p>\n
Sopa Images | Lightrocket | Getty Images<\/p>\n
LONDON \u2014 ElevenLabs, a London-based startup that specializes in generating synthetic voices through artificial intelligence, has revealed plans to be IPO-ready within five years.<\/p>\n
The company told CNBC it is targeting major global expansion as it prepares for an initial public offering.<\/p>\n
“We expect to build more hubs in Europe, Asia and South America, and just keep scaling,” Mati Staniszewski, ElevenLabs’ CEO and co-founder, told CNBC in an interview at the firm’s London office.<\/p>\n
He identified Paris, Singapore, Brazil and Mexico as potential new locations. London is currently ElevenLabs’ biggest office, followed by New York, Warsaw, San Francisco, Japan, India and Bangalore.<\/p>\n
Staniszewski said the eventual aim is to get the company ready for an IPO in the next five years.<\/p>\n
“From a commercial standpoint, we would like to be ready for an IPO in that time,” he said. “If the market is right, we would like to create a public company \u2026 that’s going to be here for the next generation.”<\/p>\n
Undecided on location<\/p>\n Founded in 2022 by Staniszewski and Piotr D\u0105bkowski, ElevenLabs is an AI voice generation startup that competes with the likes of Speechmatics and Hume AI.<\/p>\n The company divides its business into three main camps: consumer-facing voice assistants, integrations with corporates such as Cisco, and tailor-made applications for specific industries like health care.<\/p>\n Staniszewski said the firm hasn’t yet decided where it could list, but that this decision will largely rest on where most of its users are located at the time.<\/p>\n “If the U.K. is able to start accelerating,” ElevenLabs will consider London as a listing destination, Staniszewski said.<\/p>\n The city has faced criticisms from entrepreneurs and venture capitalists that its stock market is unfavorable toward high-growth tech firms.<\/p>\n For example, Deliveroo, whose shares tanked nearly 30% when the company went public<\/a>, was recently acquired by U.S. food delivery rival DoorDash<\/a> for close to $4 billion.<\/p>\n Meanwhile, British money transfer firm\u00a0Wise<\/a>\u00a0last month<\/a> said it plans to move its primary listing location to the U.S.,<\/p>\n Fundraising plans<\/p>\n ElevenLabs was valued at $3.3 billion following a recent $180 million funding round. The company is backed by the likes of Andreessen Horowitz, Sequoia Capital and ICONIQ Growth, as well as corporate names like Salesforce<\/a> and Deutsche Telekom<\/a>.<\/p>\n Staniszewski said his startup was open to raising more money from VCs, but it would depend on whether it sees a valid business need, like scaling further in other markets. “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,” he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Founded in 2022, ElevenLabs is an AI voice generation startup based in London. It competes with the likes…\n","protected":false},"author":3,"featured_media":34725,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[691,738,11732,81,28650,304,6941,1968,158,67,132,68,1594],"class_list":{"0":"post-34724","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-breaking-news-technology","11":"tag-business-news","12":"tag-deutsche-telekom-ag","13":"tag-generative-ai","14":"tag-salesforce-inc","15":"tag-start-up","16":"tag-technology","17":"tag-united-states","18":"tag-unitedstates","19":"tag-us","20":"tag-venture-capital"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114788149689119681","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/34724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=34724"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/34724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/34725"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=34724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=34724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=34724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}