Announcing Perplexity's Series B Funding Round

Today, we’re announcing milestones reinforcing Perplexity’s increasingly dominant role in this new era of AI-native search. Since publicly launching the world’s first fully functional conversational answer engine a year ago, we’ve grown to 10 million monthly active users and have served over half a billion queries in 2023. More than a million people have installed our mobile apps, both on iOS and Android. But our ambition is to serve the entire planet’s unbounded curiosity, and we’re just getting started.

To support our rapid consumer adoption and expansion plans, we’ve raised $73.6 million in Series B funding from trusted VC firms and prominent tech visionaries. IVP led the round with continued support from our Seed and Series A investors NEA, Elad Gil, Nat Friedman, and Databricks, as well as new investors NVIDIA, Jeff Bezos (through Bezos Expeditions Fund), Tobi Lutke, Bessemer Venture Partners, Naval Ravikant, Balaji Srinivasan, Guillermo Rauch, Austen Allred, and Factorial Funds among others. Building upon our Series A from last year, we’ve now raised $100 million to date.

“AI is transforming the way consumers access information”, said Jonathan Cohen, VP of Applied Research at NVIDIA. “Perplexity’s world-class team is building a trusted AI-powered search platform that will help push this transformation forward.”

With Perplexity’s search tools, users get instant, reliable answers to any question with complete sources and citations included. There is no need to click on different links, compare answers, or endlessly dig for information. In an era where misinformation and AI hallucinations are causing increasing concern, we’re built on the idea that accuracy and transparency are prerequisites to making AI-powered search ubiquitous. The times of sifting through SEO spam, sponsored links, and multiple web pages will be replaced by a much more efficient way to consume and share information, propelling our society into a new era of accelerated learning and research.

Since our previous funding round, we've launched Copilot, a first-of-its-kind AI research assistant that has changed how we uncover information and learn more about new topics. Copilot tailors search queries with custom follow-up questions, introducing the concept of generative user interfaces. It removes the burden of prompt engineering and does not require users to ask perfectly phrased questions to get the answers they seek. This enables users to gain more relevant and comprehensive answers than other AI chatbots, traditional search engines, or research tools. Copilot has seen strong traction, especially among academics, students, and knowledge workers who rely on frequent research for their day-to-day work and needs.

It’s not just about our technology but also how people use it. We stand at the inflection point of a massive behavioral shift in how people access information online. I am excited about the potential for Perplexity to enhance our curiosity and intelligence by providing streamlined access to reliable information. We are privileged to have the support of leading investors, technologists, and, most importantly, the millions of users who have trusted us with their time and support as we fulfill this grand mission of making the planet smarter by continuing to build the fastest and most accurate platform for answering any question.

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