Perplexity AI’s value jumps to US$18B after fresh US$100M funding

INTERNATIONAL: Perplexity AI, the artificial intelligence-powered search engine startup taking on Google, has raised another US$100 million in fresh funding, pushing its valuation up to US$18 billion (S$23 billion).

The Edge Singapore reported, citing a person familiar with the matter, that the fresh funding is an extension of a previous funding round from earlier this year, which valued the company at US$14 billion.

Perplexity declined to comment on the funding. Some details of the deal were earlier reported by the Financial Times.

Perplexity, founded in 2022, has quickly become one of the leading names in generative AI. Its valuation jumped from US$1 billion to US$3 billion last year and then tripled again just months later.

In March, Bloomberg News reported that the startup aimed to raise up to US$1 billion at a valuation of US$18 billion but later settled for a smaller investment at US$14 billion. With this latest funding, it’s now back at its original valuation target. /TISG

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