Perplexity has reportedly closed a $500M funding round | TechCrunch
Dec 19, 2024 - techcrunch.com
AI-powered search engine Perplexity has reportedly secured a $500 million funding round, valuing the company at $9 billion. The round was led by Institutional Venture Partners and closed earlier in December, according to Bloomberg. Perplexity's spokesperson declined to comment on the matter. This funding comes amid increasing competition in the AI-powered search space, with OpenAI launching ChatGPT Search and Google developing similar capabilities, including AI-generated summaries and answers on search results pages. Google is also reportedly planning to integrate a chatbot-like “AI mode” into its search engine.
Despite facing a class action lawsuit over alleged copyright infringement, Perplexity is actively expanding its capabilities. The company recently made its first acquisition by purchasing Carbon, a startup that specializes in connecting AI systems to external data sources. This move indicates Perplexity's commitment to enhancing its technology and maintaining a competitive edge in the rapidly evolving AI search market.
Key takeaways:
Perplexity AI has closed a $500 million funding round, valuing the company at $9 billion.
The funding round was led by Institutional Venture Partners and closed earlier in December.
Perplexity is facing competition from OpenAI's ChatGPT Search and Google's AI developments.
The company has made its first acquisition by purchasing Carbon, a startup focused on connecting AI systems to external data sources.
