Funding round
Perplexity Growth
Reported as "Growth Equity"
Perplexity, which works in AI-Powered knowledge base services in San Francisco, raised $250M in a Growth round announced on 23 Apr 2024, at a $2.50B post-money valuation. 2 firms took part, 2 of them already investors. It is Perplexity's fourth venture round on record; the one before was a Series B in Jan 2024.
$250M
Amount raised
$2.50B
Post-money valuation
$2.25B pre-money
2
Investors
no lead named
4.8x
Step-up from the Series B
$520M in Jan 2024
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Perplexity at $2.50B after the new money, 4.8 times the $520M of its Series B (Jan 2024). The $250M bought investors about 10% of the company. It came 3 months after Perplexity's Series B. It is 5.7% of the $4.35B Perplexity has raised in the venture rounds on record. Perplexity raised again 7 months later: a Growth round of $500M in Nov 2024, at $9.00B post-money.
Perplexity's funding rounds
Perplexity has 9 venture rounds on record. This one is highlighted.
- Seed 1 Sep 2022 $3.1M
- Series A 28 Mar 2023, led by New Enterprise Associates $26M
- Series B 4 Jan 2024, led by Institutional Venture Partners $74M$520M post-money
- Growth this round 23 Apr 2024 $250M$2.50B post-money
- Growth 5 Nov 2024, led by Institutional Venture Partners $500M$9.00B post-money
- Series E 14 May 2025, led by Accel $500M$14.00B post-money
- Growth 1 Sep 2025 $200M$20.00B post-money
- Series F 1 Dec 2025 $500M$20.00B post-money
- Growth 1 Jan 2026 $2.30B
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- New Enterprise Associates backs 286 venture-backed companies existing investor
- Institutional Venture Partners backs 109 venture-backed companies existing investor
Comparable rounds
How it compares
363 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 5.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Lambda Tech Companies | 4 Apr 2024 | $500M | not disclosed | Macquarie |
| Buyers Edge Platform Tech Companies | 8 Apr 2024 | $425M | not disclosed | General Atlantic |
| Cognition Tech Companies | 1 Apr 2024 | $175M | $2.00B | Founders Fund |
| Ramp Tech Companies | 17 Apr 2024 | $150M | $13.00B | Khosla Ventures and Founders Fund |
| Tech Companies | 9 Apr 2024 | $125M | not disclosed | 8VC and NewRoad Capital Partners |
| Tech Companies | 4 Apr 2024 | $109M | not disclosed | Sumeru Equity Partners |
| Tech Companies | 22 Apr 2024 | $100M | not disclosed | Deerfield and Endeavor Health |
| Factorial Tech Companies | 11 Apr 2024 | $80M | not disclosed | General Catalyst |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Perplexity raise in its Growth round?
Perplexity raised $250M in its Growth round, announced in Apr 2024.
Which investors took part in Perplexity's Growth round?
New Enterprise Associates and Institutional Venture Partners.
What was Perplexity's valuation at the Growth round?
$2.50B post-money ($2.25B pre-money).
How does it compare with other Growth rounds in Tech Companies?
363 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 5.3 times the median.
Did Perplexity raise again after this round?
Yes: a Growth round in Nov 2024 of $500M at $9.00B post-money.