Funding round
Mistral AI Series B
Mistral AI, which works in AI platform development in Paris, raised $644M in a Series B round announced on 11 Jun 2024, led by General Catalyst, at a $6.20B post-money valuation. 5 firms took part, 1 of them already investors. It is Mistral AI's third venture round on record; the one before was a Series A in Dec 2023.
$644M
Amount raised
$6.20B
Post-money valuation
$5.56B pre-money
5
Investors
1 lead
24x
Step-up from the Seed
$260M in Jun 2023
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Mistral AI at $6.20B after the new money, 23.8 times the $260M of its Seed (Jun 2023). The $644M bought investors about 10% of the company. It came 6 months after Mistral AI's Series A. It is 9.6% of the $6.67B Mistral AI has raised in the venture rounds on record. Mistral AI raised again 15 months later: a Series C round of $2.00B in Sep 2025, at $13.80B post-money.
Mistral AI's funding rounds
Mistral AI has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 13 Jun 2023, led by Lightspeed Venture Partners $113M$260M post-money
- Series A 11 Dec 2023, led by Andreessen Horowitz $414M
- Series B this round 11 Jun 2024, led by General Catalyst $644M$6.20B post-money
- Series C 9 Sep 2025, led by ASML Holding NV $2.00B$13.80B post-money
- Debt not a venture round 30 Mar 2026 $830M
- Series D 8 Sep 2026, led by Samsung Venture Investment, Scaleup Europe Fund and PSG $3.50B$24.40B post-money
Investors
Who put money in
General Catalyst led the round with 4 other firms. General Catalyst had backed Mistral AI before.
Lead investor
- General Catalyst backs 574 venture-backed companies existing investor
Also in the round
- Lightspeed new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- Nvidia new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
50 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $30M, and this round was 21 times the median. The closest in time, other companies' Series B rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 2 Jun 2024 | $13M | not disclosed | not named |
| Software Development Services | 4 Jun 2024 | $10M | not disclosed | FM Capital |
| Software Development Services | 11 Jul 2024 | $61M | $350M | Oak HC/FT |
| Software Development Services | 13 May 2024 | $32M | not disclosed | Nordstar and Bank of Georgia |
| Peregrine Software Development Services | 1 May 2024 | $30M | not disclosed | Friends & Family Capital and Fifth Down Capital |
| Software Development Services | 1 Jul 2024 | $12M | not disclosed | L4 Venture Builder |
| Software Development Services | 2 May 2024 | undisclosed | not disclosed | Openspace Capital |
| Software Development Services | 5 Aug 2024 | $53M | not disclosed | GV |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Mistral AI raise in its Series B round?
Mistral AI raised $644M in its Series B round, announced in Jun 2024.
Who led Mistral AI's Series B round?
General Catalyst led it, with Lightspeed, Andreessen Horowitz, Cisco Investments and Nvidia.
What was Mistral AI's valuation at the Series B round?
$6.20B post-money ($5.56B pre-money).
How does it compare with other Series B rounds in Software Development Services?
50 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $30M, and this round was 21 times the median.
Did Mistral AI raise again after this round?
Yes: a Series C round in Sep 2025 of $2.00B at $13.80B post-money.