IVP-Led USD 500 Mn Round Propels Perplexity to USD 9 Bn Valuation in AI Search Market Perplexity's valuation has soared rapidly, rising from USD 1 billion in April to USD 3 billion in June, after receiving a SoftBank Vision Fund 2 investment of USD 10–USD 20 million, with Nvidia as a key backer.
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AI-powered search engine Perplexity has raised USD 500 million in its fourth funding round, boosting its valuation to USD 9 billion, according to a Bloomberg report.
The round was led by IVP (Institutional Venture Partners) and concluded earlier this month.
Perplexity's valuation has soared rapidly, rising from USD 1 billion in April to USD 3 billion in June, after receiving a SoftBank Vision Fund 2 investment of USD 10–USD 20 million, with Nvidia as a key backer.
Founded in 2022, Perplexity leverages natural language processing (NLP) and machine learning to deliver real-time search and chatbot capabilities. The platform aims to differentiate itself from competitors like OpenAI, which has recently expanded search functionality to all ChatGPT users.
Perplexity's acquisition of Carbon, a data connectivity startup, marks a significant step in enhancing its platform. Carbon's technology connects external data sources, such as Notion and Google Docs, to large language models. "Soon, we'll integrate Carbon's data connectors into our tech stack, allowing users to seamlessly link their apps to Perplexity," the company announced in a blog post.
The acquisition is part of a broader strategy to make AI more personalised and integrate it into users' daily workflows. This integration will enable Perplexity to access information from internal databases, cloud storage, and document repositories, enhancing its real-time answer engine.
This year, Perplexity also introduced revenue-sharing partnerships with major publishers like Time and Fortune, addressing plagiarism allegations from some news outlets.
