Perplexity Secures $500 Million in December Funding Round to Accelerate Growth and Innovation
Perplexity AI Closes $500 Million Funding Round
Source: PYMNTS
Funding Highlights
- Perplexity AI successfully raised $500 million in a recent funding round.
- This investment tripled the startup’s valuation to $9 billion.
- Prominent investors include SoftBank, Nvidia, and Jeff Bezos.
Valuation Journey
- The company was valued at $520 million at the start of 2024.
- Dramatic growth was noted as it hit a valuation of $3 billion earlier in the year.
Market Trends in AI Investment
- 42% of U.S. venture capital investments in 2024 were directed towards AI companies, up from 36% in 2023.
- As of late 2024, 20 AI firms have each secured over $2 billion investments.
Product Developments
- Perplexity launched an AI-powered shopping assistant, enhancing consumer research and purchasing experiences.
- The assistant aims to serve more than 100 million queries weekly, with a goal of reaching daily queries in the near future.
Challenges and Litigation
- Perplexity is facing lawsuits from News Corp-owned publishers for alleged copyright infringement.
- The complaints assert that the AI search engine uses their content without permission, impacting site traffic.
