9 months ago
Perplexity AI, a San Francisco-based startup specializing successful AI-powered hunt engines, precocious completed a important Series B backing round, raising $73.6 million.
The backing circular was led by Institutional Venture Partners (IVP) and included a premix of task capitalists and tech luminaries similar Jeff Bezos, NVIDIA, and others.
The palmy backing effort has brought Perplexity AI’s full raised superior to $100 cardinal and boosted its valuation to $520 million.
Rapid growth
The institution launched little than 2 years agone and has rapidly grown successful popularity, attracting 10 cardinal monthly progressive users and handling implicit fractional a cardinal queries successful 2023 alone.
This maturation is partially attributed to its unsocial attack to search, which involves delivering nonstop answers to queries utilizing earthy connection processing alternatively than conscionable presenting a database of links.
Perplexity integrates its hunt scale with starring AI models similar Claude 2 and GPT-4 to make summarized responses with citations, offering a conversational travel and allowing users to inquire follow-up questions.
Despite its awesome growth, Perplexity AI is not yet profitable, generating single-digit cardinal gross annually.
Revenue stream
However, it does make gross done its Pro offering, which costs $20 per period and unlocks precocious features similar upgraded AI models and representation procreation capabilities. However, anyone tin usage the halfway hunt acquisition wholly escaped of cost.
Perplexity AI’s CEO, Aravind Srinivas, who has acquisition moving with organizations similar DeepMind, Google, and OpenAI, believes that the company’s absorption and quality to fine-tune a assortment of top-performing AI models acceptable it isolated successful the market. He envisions Perplexity AI arsenic a next-generation instrumentality that volition redefine however radical entree accusation online.
The company’s introduction into the hunt and generative AI spaces aligns with the broader manufacture trend, arsenic large tech companies similar Google and Microsoft pivot towards AI-first interfaces for their hunt products. The generative AI sector, which Perplexity AI is simply a portion of, is expected to beryllium worthy arsenic overmuch arsenic $667 cardinal by 2030.
While Perplexity AI faces the situation of competing successful a marketplace dominated by giants similar Google, its innovative attack and caller backing occurrence presumption it arsenic a imaginable disruptor successful the tract of AI-powered hunt engines.
The station Perplexity AI secures $73.6M successful Series B funding, boosts valuation to $520M appeared archetypal connected CryptoSlate.
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