# ElevenLabs Targets 2028 IPO Readiness After Valuation Doubles to $22 Billion By John Kim Canonical URL: https://www.tokenpost.com/news/business/48470 Published: 2026-11-04T12:27:45.000Z Updated: 2026-11-04T12:27:45.000Z Section: Business > A September employee share sale valued the AI voice company at $22 billion. It has not set a listing date. ElevenLabs CEO Mati Staniszewski said he wants the AI voice company ready for an initial public offering in 2028, although the company has not set a date to list its shares. A September sale of existing employee shares valued ElevenLabs at $22 billion, twice the $11 billion valuation from its February financing. The $300 million transaction primarily gave employees an opportunity to sell shares. The company’s [valuation doubled to $22 billion]() in the deal. ElevenLabs is expanding from voice cloning and AI dubbing into voice agents for businesses. The agents handle tasks including customer service, scheduling and insurance renewals. Enterprise customers contribute 55% of revenue, while the agents process more than 15 million conversations a week, three times February’s volume. The company disclosed about $600 million in annual recurring revenue in September, putting its $22 billion valuation at roughly 37 times ARR. That month, it hired Ethan Tandowsky, a former CFO who was involved in Adyen’s public listing, to oversee finance. ## Links in this article - [valuation doubled to $22 billion](https://www.tokenpost.com/news/business/25877)