Viral AI startup Instinct has raised $350 million at a $2.5 billion valuation
The startup is only a year old but it has already generated a massive amount of hype (and money) while also spurring privacy concerns.
Get smart on it
Instinct is an AI assistant startup founded last year by a 23-year-old that helps organize users' lives by connecting to their apps and devices, allowing communication via texts and calls. The company raised $250 million in a Series B funding round co-led by Index Ventures and Benchmark, bringing its total funding to $350 million and valuation to $2.5 billion. The startup has generated enthusiasm among early users who report using it for planning road trips, buying groceries and concert tickets, and cancelling subscriptions, though it has faced controversy over privacy concerns regarding its permissions and terms of use. Instinct's rapid valuation reflects broader investor enthusiasm for AI startups despite the company currently operating only in private beta.
Related news
Crusoe reportedly raises $3B at a $30B valuation
The round came together after the data center developer reportedly secured a $13 billion contract with Jane Street.
Accel reportedly in talks to lead $1B round for Thinking Machines at $40B valuation
The high-profile startup's annual revenue run rate stands at over $100 million.
