(Bloomberg) — AI voice startup ElevenLabs plans to be ready for an initial public offering in two to three years, according to Chief Executive Officer Mati Staniszewski, potentially making it one of the first artificial intelligence companies started in Europe to prepare for an IPO.
ElevenLabs, which uses AI to create a variety of realistic voices, recently raised $500 million in a round led by some of the world’s leading investors, including Sequoia Capital, Andreessen Horowitz and Iconiq. The startup was valued at $11 billion in the funding deal.
Speaking in a broadcast interview at a conference in Bukowina Tatrzańska in southern Poland, Staniszewski said the company is considering a dual listing that would include an IPO at the Warsaw Stock Exchange. He didn’t mention the other potential location.
“We really want this next wave of innovation to be possible, to try to create and give back something, so a dual listing in Warsaw is what we are thinking about,” Staniszewski said.
In January, Staniszewski told Bloomberg Television that the company had crossed $330 million in annual recurring revenue. It also recently struck partnerships with Deutsche Telekom AG, Boston Consulting Group, Revolut and the Ukrainian government, Staniszewski said on LinkedIn.
Founded in 2022, ElevenLabs is currently headquartered in New York, but the business grew out of Poland and maintains strong links with its home country. Both co-founders, Staniszewski and Piotr Dabkowski, are Polish, and the company has an office in Warsaw. Staniszewski has also worked with the government’s innovation council, which aims to foster a startup ecosystem in the country.
