ElevenLabs reportedly eyes a 2028 IPO; CEO hopes the groundwork is ready by then
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What happened
The Information reported on 8 September 2026, in a piece summarized by Dealroom, that ElevenLabs was eyeing a possible IPO in 2028, citing someone with direct knowledge. The company did not confirm the timing. The same report said ElevenLabs had hired Ethan Tandowsky, previously chief financial officer of Dutch fintech Adyen, as its CFO. Dealroom said ElevenLabs was valued at $11 billion in February after a $500 million round led by Sequoia.
On 24 September, CEO Mati Staniszewski told TechCrunch the company was preparing the foundation to do it in the next years, and said whether it did would depend on the time and place. He did not confirm 2028. On 6 October he told CNBC-TV18 the company would like to be ready in the next couple of years and hoped to have the foundation ready by 2028. CNBC-TV18 said the comments followed a $300 million employee tender offer that valued ElevenLabs at $22 billion. TechCrunch quoted the CEO as saying annual recurring revenue was $600 million, with more than 55% from enterprise customers. None of the sources read reported a filing, banks or a listing venue.
Key points
- The Information reported on 8 September 2026 that ElevenLabs eyed a possible 2028 IPO; the company did not confirm it.1
- On 24 September the CEO told TechCrunch he would not confirm 2028 and said the decision depended on time and place.2
- On 6 October the CEO told CNBC-TV18 he hoped the foundation would be ready by 2028.3
- CNBC-TV18 reported a $300M employee tender offer at a $22B valuation, versus $11B in February.13
- The CEO put annual recurring revenue at $600M, with more than 55% from enterprise customers.2
Why it matters
The 2028 timeline comes from a report and a CEO comment about readiness, not from a filing. It gives holders a stated window for a possible listing, with no banks, venue or filing reported.
CNBC-TV18 reported a $300M employee tender offer at $22B. A tender offer lets employees turn shares into cash before any IPO, and it set a $22B mark against the $11B from February.
Dealroom, summarizing The Information, said the new CFO held finance roles through Adyen's 2018 IPO and that reliance on outside AI models raises cost and margin questions for public-market investors. The CEO declined to discuss gross margins in detail with TechCrunch.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series B | Jan 22, 2024 | $1.1B | $80M | Andreessen Horowitz, Daniel Gross, and Nat Friedman |
| Series C | Jan 30, 2025 | $3.3B | $180M | Andreessen Horowitz and ICONIQ Growth |
| Series D | Feb 4, 2026 | $11B | $500M | Sequoia Capital |
| Series D extension | Jun 17, 2026 | $11B | $11M | Unknown |
Updated
Fact-check
- The Information reported on 8 September 2026 that ElevenLabs eyed a possible IPO in 2028.[1] Dealroom, dated 8 September 2026, summarizes The Information's report citing someone with direct knowledge and reports no company confirmation. The Information's own page was not readable.Verified
- ElevenLabs hired Ethan Tandowsky, former CFO of Dutch fintech Adyen, who held finance roles through Adyen's 2018 IPO.Stated by [1] Dealroom, summarizing The Information.Verified
- ElevenLabs was valued at $11 billion in February after a $500 million Sequoia-led round.Stated by [1] Dealroom.Verified
- On 24 September 2026 the CEO told TechCrunch the company was preparing the foundation to list in the next years and did not confirm 2028.[2] TechCrunch, dated 24 September 2026, quotes Mati Staniszewski and says he did not confirm 2028.Verified
- On 6 October 2026 the CEO told CNBC-TV18 he hoped to have the foundation ready by 2028.Rests on the writer's read of [3] CNBC-TV18, whose page was blocked for the checker; [2] TechCrunch records a similar but less specific comment.Partly verified
- A $300 million employee tender offer valued ElevenLabs at $22 billion.The $300 million figure rests on the writer's read of [3] CNBC-TV18, which was blocked for the checker; [2] TechCrunch says ElevenLabs is reportedly valued at $22 billion and links to a report on tender offer talks.Partly verified
- Annual recurring revenue is $600 million, with more than 55% from enterprise customers.Stated by [2] TechCrunch, which quotes the CEO.Verified
Sources
- [1]Dealroom (summary of The Information) (opens in a new tab)ElevenLabs Hires CFO, Eyes 2028 IPOeyes a possible IPO in 2028, according to someone with direct knowledge
- [2]TechCrunch (opens in a new tab)ElevenLabs' CEO on margins, IPO timing, and telling customers they're talking to a botWe are preparing the foundation to be able to do it in the next years.
- [3]CNBC-TV18 (opens in a new tab)Eleven Labs hints it could be IPO-ready by 2028By 2028, I think we should hopefully have the foundation ready
