Venture capital firm IVP is leading an investment in Perplexity, a developer of an AI-powered search engine that competes primarily with Google's SGE and, at a distance, with chat-based tools like Anthropic's Claude and OpenAI's ChatGPT with Browsing. Perplexity uses both of these rivals' LLMs to power its search-focused service. The deal values the year-old company at about $500 million, up from a post-investment valuation of $150 million in a previous funding round in March. Perplexity had $3 million in annual recurring revenue as of this month and is in talks to raise about $50 million.

Support our independent, free-access reporting. Any contribution helps and secures our future. Support now:
Bank transfer
Online journalist Matthias is the co-founder and publisher of THE DECODER. He believes that artificial intelligence will fundamentally change the relationship between humans and computers.
Join our community
Join the DECODER community on Discord, Reddit or Twitter - we can't wait to meet you.