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Perplexity is raising $250M+ at a $2.5-$3B valuation for its AI search platform, sources say

TechCrunch · 1y ago

Perplexity is raising $250M+ at a $2.5-$3B valuation for its AI search platform, sources say

AI search engine startup Perplexity is reportedly raising $250 million to $300 million in a new funding round, valuing the company at between $2.5 billion and $3 billion. This is on top of two recent fundraises that saw the company's valuation increase from $121 million in April 2023 to $1 billion in March this year. Perplexity's product is a generative AI-based search engine that utilizes various language models to produce accurate and rich responses. The company has already attracted a long list of investors, including NEA, IVP, Sequoia, and Jeff Bezos. Perplexity's page has already announced securing $62M at 1B+ valuation on X for the aforementioned round.

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Related News

Perplexity AI Challenges Google with 250M Queries, $25

deepnewz

deepnewz · 12m ago

Perplexity AI Challenges Google with 250M Queries, $25

Perplexity, an AI search start-up, is quickly gaining ground in the tech industry, posing a challenge to Google's reign in the search engine market. With a seven-fold increase in monthly revenues and usage since early 2024, Perplexity's AI search engine handled around 250 million queries in July alone, compared to 500 million queries for the entire year of 2023. To support its growth, the company recently secured $250 million in funding, placing its valuation at $3 billion. The rise of Perplexity indicates a potential disruption in the AI landscape, as it competes with established tech giants.

Perplexity AI raises $73.6M in funding round led by Nvidia, Bezos, now valued at $522M

Business Today

Business Today · 1y ago

Perplexity AI raises $73.6M in funding round led by Nvidia, Bezos, now valued at $522M

Perplexity AI, a search startup, has raised $73.6 million in a Series B funding round led by Nvidia and Jeff Bezos. The company specializes in advanced search tools that provide instant answers with sources and citations. With this funding, Perplexity AI's valuation has reached $520 million. The startup plans to expand its team, enhance product development, and focus on global expansion efforts. CEO Aravind Srinivas believes Perplexity AI's approach sets it apart from traditional search engines like Google, positioning it as a next-generation search tool.

AI startup Perplexity adds shopping features as search competition tightens

Economic Times

Economic Times · 8m ago

AI startup Perplexity adds shopping features as search competition tightens

AI search startup Perplexity has launched a shopping hub in an effort to challenge Google's dominance in the search engine space. The platform will provide users with product cards containing relevant items in response to shopping-related queries. The feature is powered by integrations with platforms like Shopify, offering access to product information from businesses globally. Perplexity is also introducing a visual search tool called "Snap to Shop" and a "Merchant Program" that allows retailers to share product information. The startup is raising new investment, valuing it at $9 billion.

Perplexity Launches $20/Month Labs Tool for Pro Users, Eyes $1 Billion Raise at $18 Billion Valuation | DeepNewz VC

Business Bytes

Business Bytes · 2m ago

Perplexity Launches $20/Month Labs Tool for Pro Users, Eyes $1 Billion Raise at $18 Billion Valuation | DeepNewz VC

Perplexity recently launched a $20/month Labs tool for Pro users and is eyeing a $1 billion raise at an $18 billion valuation. Tyler Bryden poses questions about Perplexity's standing against Google AI, exploring whether the competition poses a threat to Perplexity in terms of AI search and technology innovation. The discussion highlights key themes such as AI competition, the future of AI, and the broader implications for search engines.

Exclusive: Clay secures a new round at a $3B valuation, sources say

TechCrunch · 1m ago

Exclusive: Clay secures a new round at a $3B valuation, sources say

Clay, a sales automation startup, has raised a Series C round at a $3 billion valuation, led by CapitalG. This follows a tender offer where employees sold shares at a $1.5 billion valuation. Founded in 2017, Clay pivoted to AI-driven sales tools, serving clients like OpenAI and HubSpot. Competing with platforms such as ZoomInfo, Clay is backed by investors including Sequoia and Meritech Capital. The company plans annual tender offers for stock sales.

Who is IIT Madras alumnus Aravind Srinivas, CEO of Perplexity AI?

Twitter · 1y ago

Who is IIT Madras alumnus Aravind Srinivas, CEO of Perplexity AI?

Aravind Srinivas, whose US-based search startup Perplexity AI has become a unicorn after raising $62.7 million from Jeff Bezos and others, holds a dual degree in electrical engineering from IIT Madras. He completed his PhD in computer science from the University of California, Berkeley. Srinivas worked with OpenAI and Google before co-founding Perplexity AI in 2022.

Perplexity AI looks to expand in India, seeks new talent for strategic growth

Economic Times

Economic Times · 6m ago

Perplexity AI looks to expand in India, seeks new talent for strategic growth

Perplexity AI, founded by Aravind Srinivas, is expanding its presence in India by seeking talent to engage with strategic partners. The AI startup, competing against Google's search product, recently raised $500 million, boosting its valuation to $9 billion. Srinivas, an IIT Madras and UC Berkeley graduate, previously worked at OpenAI before launching Perplexity AI in 2022. The company is navigating challenges such as the debate over Indian immigrants and H-1B visas under potential US policy changes.

Apple executives held internal talks about buying Perplexity

Reuters

Reuters · 1m ago

Apple executives held internal talks about buying Perplexity

Apple has held internal talks about potentially acquiring AI search startup Perplexity, valued at \$14 billion, though no formal bid has been made. The move could signal Apple’s shift away from Google for Safari search. Meta reportedly tried to acquire Perplexity earlier this year. The startup, backed by Nvidia, offers ChatGPT-like AI-powered search summaries.

Google’s grip on search slips as TikTok and AI startup mount challenge

Livemint

Livemint · 10m ago

Google’s grip on search slips as TikTok and AI startup mount challenge

- Google's dominant position in the search ad market is being challenged by rivals, including TikTok and AI search startup Perplexity. - TikTok now allows brands to target ads based on users' search queries, presenting a direct challenge to Google's core business. - Perplexity, which utilizes AI-generated answers, plans to introduce ads to its platform, offering an alternative to Google's search ads. - Amazon's rise in the search ad market has contributed to Google's expected drop below 50% market share in the U.S. next year. - The generative-AI boom is transforming search products, providing fully formed answers or summaries of results, with both Google and Perplexity launching ads in AI-generated summaries. - Advertisers are eager for more competition as they seek viable alternatives to Google.

SoftBank to invest in search startup Perplexity AI at $3 bln valuation, Bloomberg reports

Reuters · 1y ago

SoftBank to invest in search startup Perplexity AI at $3 bln valuation, Bloomberg reports

SoftBank Group's Vision Fund 2 is reportedly investing between $10 million and $20 million in US search startup Perplexity AI. This investment is part of a larger $250 million funding round that values Perplexity at $3 billion. Perplexity offers search tools that provide users with instant answers to questions, powered by large language models. The deal has not been finalized yet, and neither Perplexity nor SoftBank have commented on the matter.

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