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  • Perplexity seeks over $250 million in funding, valued at $2.5-3 billion.
  • AI-based search engine with a conversational interface, Perplexity Enterprise Pro.
  • Already 46 investors on board, processing over 75 million queries, achieving $20 million ARR.

Perplexity, the AI-based startup, is currently pursuing additional finances. The company is targeting over $250 million of funds, and the valuation thereof stands anywhere between $2.5 billion and $3 billion.

This latest news comes out in advance of two successful fund rounds through which the company's valuation doubled in the last four months. At the beginning of the year, Perplexity brings in a capital of $74 million, translating to $540 million in evaluation.

And at the beginning of March, the company got the money it needed at a valuation of $1 billion. Perplexity, aside from that, also has its goal set for raising yet another round of around $250 million to capitalize on the current market attention it got.

NEA and IVP, the former backers, along with other investors, would also like to be among the participants in this larger round. For now, their main product is an AI-based search engine with a conversational interface to use the chatbot.

Along with search engines, Perplexity Enterprise Pro differentiates itself from similar other knowledge work tools like Microsoft Copilot. Even though it is a startup that has mainly worked since 2022, 46 investors are already on board, according to the Pitchbook data.

The company offers its tools on free and paid tiers, successfully processing over 75 million queries this year and achieving ARR as high as $20 million.

Edited by Shruti Thapa