Funding round
Perplexity Growth
Reported as "Growth Equity"
Perplexity, which works in AI-Powered knowledge base services in San Francisco, raised $500M in a Growth round announced on 5 Nov 2024, led by Institutional Venture Partners, at a $9.00B post-money valuation. 2 firms took part. It is Perplexity's fifth venture round on record; the one before was a Growth in Apr 2024.
$500M
Amount raised
$9.00B
Post-money valuation
$8.50B pre-money
2
Investors
1 lead
3.6x
Step-up from the Growth
$2.50B in Apr 2024
5.6%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Perplexity at $9.00B after the new money, 3.6 times the $2.50B of its Growth (Apr 2024). The $500M bought investors about 5.6% of the company. It came 7 months after Perplexity's Growth. It is 11% of the $4.35B Perplexity has raised in the venture rounds on record. Perplexity raised again 6 months later: a Series E round of $500M in May 2025, at $14.00B 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 23 Apr 2024 $250M$2.50B post-money
- Growth this round 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
Institutional Venture Partners led the round with 1 other firm.
Lead investor
- Institutional Venture Partners new investor
Also in the round
- SoftBank new investor
Comparable rounds
How it compares
407 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 10 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Anthropic Tech Companies | 22 Nov 2024 | $4.00B | not disclosed | Amazon |
| C4 Tech Companies | 20 Nov 2024 | $530M | $5.30B | CapitalG and Sequoia Capital |
| Cin7 Tech Companies | 18 Nov 2024 | $500M | not disclosed | Rubicon Technology Partners and CVC |
| Tech Companies | 13 Nov 2024 | $330M | not disclosed | Sumeru Equity Partners |
| Tech Companies | 21 Nov 2024 | $100M | not disclosed | General Catalyst |
| Tech Companies | 21 Nov 2024 | $50M | not disclosed | not named |
| Neo4j Tech Companies | 28 Nov 2024 | $50M | $2.00B | Noteus |
| Tech Companies | 25 Nov 2024 | $50M | not disclosed | BlackRock Capital Investment Advisors, LLC |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Perplexity raise in its Growth round?
Perplexity raised $500M in its Growth round, announced in Nov 2024.
Who led Perplexity's Growth round?
Institutional Venture Partners led it, with SoftBank.
What was Perplexity's valuation at the Growth round?
$9.00B post-money ($8.50B pre-money).
How does it compare with other Growth rounds in Tech Companies?
407 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 10 times the median.
Did Perplexity raise again after this round?
Yes: a Series E round in May 2025 of $500M at $14.00B post-money.