ElevenLabs Eyes 2028 IPO as ARR Climbs Toward $600 Million

AI voice startup ElevenLabs has hired former Adyen CFO Ethan Tandowsky as it prepares for a possible public listing in 2028, according to The Information. The company says ARR is on track to reach about $600 million, up from $350 million at the end of last year, with more than half of sales now coming from large enterprise customers.
ElevenLabs was valued at $11 billion in February after a $500 million Sequoia-led round, and has since raised additional capital from NVIDIA's venture arm, BlackRock, Wellington, and Santander. The company is also reportedly profitable and recently hired former OpenAI executive Ashley Kramer as its first chief revenue officer.