According to CoinMeta, ElevenLabs CEO Mati Staniszewski indicates that the company aims to be well-prepared for IPO by 2028, although the final listing date has not yet been determined. In September of this year, ElevenLabs raised its valuation to $22 billion through the sale of employee stock options, doubling from the $11 billion raised in February, with a transaction size of $300 million. The funds were mainly used to allow employees to cash out. ElevenLabs initially became famous for its AI voice acting and voice cloning services and is now shifting towards enterprise voice intelligence agents to help companies automatically handle customer service, appointments, insurance renewals, and other tasks. Currently, corporate customers contribute 55% of the revenue, and the voice intelligence agents handle over 15 million conversations per week, which is three times the amount from February of this year. The company disclosed an annualized recurring revenue of ARR in September, which corresponds to a valuation of approximately ARR times. In the same month, ElevenLabs also hired former CFO Ethan Tandowsky who was involved in the listing of payment company Adyen to take charge of financial operations.