AI search startup Perplexity raises $70M, valued at $520M, to take on Google and ChatGPT
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Perplexity AI, an AI-powered search engine startup, has raised $70M in a funding round led by IVP. The round values the company at $520M post-money.
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Perplexity, founded in August 2022, offers a chatbot-like search experience that provides summaries and citations in response to natural language questions.
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The platform runs several AI models, including Google's Gemini and OpenAI's GPT-4, and allows subscribers to switch between them.
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Perplexity aims to differentiate through search filtering and discovery features, but faces competition from tools like Google's Bard and ChatGPT.
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The company is investing funding into expanding its team and building new product functionality as it seeks to bring "the power of AI to billions." Perplexity claims 10 million monthly active users currently.