Jeff Bezos-Backed Perplexity AI Seeks $500 Million to Reach $9 Billion Valuation

Oct 20, 2024, 09:27 PM

Perplexity AI, an artificial intelligence search company founded in August 2022, has initiated fundraising talks to raise approximately $500 million in new funding, potentially more than doubling its valuation to $8 billion or more, with some reports indicating a target of $9 billion, according to The Wall Street Journal. The company, backed by Jeff Bezos, aims to capitalize on the growing interest in AI technologies following significant investments in firms like OpenAI. Perplexity's annualized revenue has surged to about $50 million, up from $10 million in March. In January, the company was valued at $520 million, which increased to $3 billion over the summer. In March 2023, its Series A funding round was led by New Enterprise Associates at a $124 million pre-money valuation. This would mark Perplexity's fourth funding round within a year.