Perplexity reportedly raised $200M at $20B valuation

Perplexity, the AI-powered search startup that compete with Google by offering conversational solutions to consumer queries, has secured $200 million in new capital at a $20 billion valuation, The Information reported. The contemporary funding comes simply two months after the corporate raised $100 million at an $18 billion valuation, in keeping with Bloomberg’s July report.

Since its founding three years in the past, the quickly rising AI firm has raised $1.5 billion in whole funding, in keeping with PitchBook knowledge.  It’s unclear who led Perplexity’s newest capital injection. Bloomberg reported that the July financing was an extension of a earlier $500 million spherical accomplished earlier this 12 months at a $14 billion valuation, which got here simply months earlier, a deal that was led by Accel.

In response to a supply conversant in the corporate, Perplexity’s annual recurring income (ARR) is approaching $200 million. Final month, Perplexity’s head of communication instructed Enterprise Insider that the corporate’s ARR was more than $150 million.

Perplexity didn’t instantly reply to a request for remark.

The funding comes as Perplexity positions itself as a challenger to Google’s search dominance. In August, Perplexity supplied to purchase Google’s Chrome browser for $34.5 billion. The provide got here after the Justice Division, alleging that Google was appearing anticompetitively, proposed that the corporate sell its web browser. Nonetheless, earlier this month, a federal decide dominated that Google will not have to break up its search enterprise, successfully permitting the search big to maintain Chrome.