Funding round
Perplexity Series A
Perplexity, which works in AI-Powered knowledge base services in San Francisco, raised $26M in a Series A round announced on 28 Mar 2023, led by New Enterprise Associates. 2 firms took part, with 6 individual investors. It is Perplexity's second venture round on record; the one before was a Seed in Sep 2022.
$26M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Perplexity did not disclose a valuation in this round. It came 6 months after Perplexity's Seed. It is under 1% of the $4.35B Perplexity has raised in the venture rounds on record. Perplexity raised again 10 months later: a Series B round of $74M in Jan 2024, at $520M 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 this round 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 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
New Enterprise Associates led the round with 1 other firm.
Lead investor
- New Enterprise Associates backs 286 venture-backed companies new investor
Also in the round
- Databricks Ventures new investor
Individual investors: Elad Gil, Nat Friedman, Bob Muglia, Susan Wojcicki, Paul Buchheit and Soleio.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,576 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 2.1 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Mar 2023 | $150M | $1.00B | Andreessen Horowitz |
| Tech Companies | 7 Mar 2023 | $90M | not disclosed | Crossbeam Venture Partners and General Global Capital |
| Rain Tech Companies | 1 Mar 2023 | $66M | not disclosed | QED Investors |
| Tech Companies | 1 Mar 2023 | $65M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 31 Mar 2023 | $60M | not disclosed | not named |
| Tech Companies | 7 Mar 2023 | $55M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 1 Mar 2023 | $48M | not disclosed | SoftBank Latin America Fund |
| Tech Companies | 14 Mar 2023 | $45M | $100M | ClearSky |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Perplexity raise in its Series A round?
Perplexity raised $26M in its Series A round, announced in Mar 2023.
Who led Perplexity's Series A round?
New Enterprise Associates led it, with Databricks Ventures.
What was Perplexity's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,576 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 2.1 times the median.
Did Perplexity raise again after this round?
Yes: a Series B round in Jan 2024 of $74M at $520M post-money.