Perplexity raises $73.6m in Series B funding for conversational AI – Verdict

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Perplexity, an artificial intelligence (AI) conversational search startup, has raised $73.6m in its Series B funding round.  

The round was led by IVP, with participation from the company’s existing backers including Elad Gil, NEA, Nat Friedman, and Databricks

New investors in the round include Austen Allred, Balaji Srinivasan, Bessemer Venture Partners, Factorial Funds, Guillermo Rauch, Jeff Bezos through Bezos Expeditions Fund, Kindred Ventures, Naval Ravikant, NVIDIA and Tobi Lutke, among others. 

This latest funding round, which valued the company at around $520m, brings its total funding till date to $100m, reported Reuters.  

San Francisco-based Perplexity plans to use the Series B funding to support its expansion plans and accelerate customer adoption.  

Founded in August 2022, Perplexity’s search tools provide users with instant answers, along with sources and citations. 

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In 2023, the company introduced Copilot, an AI research assistant that simplifies search queries with tailored follow-up questions. 

The company claims to have 10 million monthly active users (MAUs) and served over 500 million queries in 2023. 

IVP general partner Cack Wilhelm said: “Perplexity is intensely building a product capable of bringing the power of AI to billions. The team possesses the unique ability to uphold a grand, long-term vision while shipping product relentlessly, requirements to tackle a problem as important and fundamental as search.” 

NVIDIA VP of applied research Jonathan Cohen said: “While there has been a lot of excitement around business-to-business and developer-related AI capabilities, AI will also transform how we access information. Perplexity is at the forefront of this shift as one of the few consumer AI products to reach this major milestone of 10 million MAUs.” 

In March 2023, Perplexity raised $25.6m in its Series A funding round, which was led by Peter Sonsini of New Enterprise Associates.  

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