To some, AI fatigue is real-but clearly venture investors haven't become exhausted of the category.
AI deals continued to dominate venture funding in the third quarter. In Q3, AI companies raised $18.9 billion, or 28% of all venture funding, Crunchbase data show.
And the largest venture deal in history closed also in the third quarter: OpenAI raised a behemoth $6.6 billion round. That said, OpenAI's deal was one of six AI funding rounds over $1 billion in 2024.
Here are U.S.-based AI companies that raised $100 million or more so far in 2024:
October
EvenUp, an AI-powered legaltech startup, has raised a Series D round of $135 million with Bain Capital Ventures, SignalFire, Lightspeed, and more. On October 8, the startup was valued at $1 billion in the round.
Berkeley-based KoBold Metals was said to have raised $491.5 million in a recent venture round. However, the investors are not disclosed yet; it has raised funding in the past from VCs including Bond and Andreessen Horowitz.
Poolside, a software development platform powered by AI closed a $500 million series B round on 2 October. Others who invested in the round led by Bain Capital Ventures include Redpoint, StepStone, and Nvidia. It values the company at $3 billion.
October 2: OpenAI Said That It Created History by Unleashing the Most-Anticipated Round of Venture
OpenAI unveiled the much-awaited round of venture on October 2. The $6.6 billion venture round was most significant because of the valuation at $157 billion, since it is the largest venture round ever created. This round is led by Thrive Capital and joined by Tiger Global and SoftBank.
September
Enterprise search startup Glean on Monday announced its second funding round of 2024. The company raised a $260 million Series E round that valued it at $4.5 billion, an 87.5% increase in valuation since February's round.
Safe Superintelligence, an AI research lab founded by former OpenAI co-founder Ilya Sutskever and AI investor Daniel Gross. It raised $1 billion at a $4 billion valuation, announced on September 4. The round included participation from Andreessen Horowitz, Sequoia, and DST Global among other investors.
August
Magic an AI coding startup raised its second mega-round of the year on August 29. San Francisco-based startup raised $320 million in Series C funding. The round saw participation from CapitalG, Sequoia and Jane Street Capital among others. The company last raised $117 million Series B back in February.
General Catalyst has led the $150 million Series C round into Codeium, an AI-powered coding platform, which closed on August 29. The round saw participation from Kleiner Perkins and Greenoaks and valued Codeium at $1.2 billion.
Artificial intelligence support agents developer DevRev recently revealed that it raised a valuation of $1.1 billion after its massive early-stage raise. The Silicon Valley-based firm raised a $100 million Series A round involving investors such as Khosla Ventures, Mayfield and Param Hansa Values. The company was founded in 2020.
Abnormal Security, the San Francisco-based firm building an AI-driven email security platform, raised $250 million in funding. Those participating in this round of funding also include Menlo Ventures, Greylock, and Insight Partners. The company is worth over $5 billion.
Groq – not to be confused with Grok – said Aug. 5 it has raised a $640 million Series D, which is led by BlackRock. The AI chip startup also sees money from Type One Ventures, Verdure Capital Management and Neuberger Berman, among others. And the company is valued at more than $3 billion.
July
Sources close to the matter tell TechCrunch that in July, World Labs, a self-driving AI research startup founded by Stanford's, Andrew Ng's, and Frank $100 million round was raised by Fei-Fei Li. The funding takes the value of the startup past a billion dollars as the Financial Times confirmed. World Labs is gearing up to develop AI models that can estimate the physicality of real-world objects in three dimensions accurately.
San Francisco-based legal tech company Harvey has raised its Series C round, taking in $100 million in funding. It's led by Google Ventures, and some other participants include OpenAI, Kleiner Perkins, and Sequoia. This valuation puts the company at $1.5 billion.
Hebbia, $130 million: Andreessen Horowitz led the round for Hebbia that closed July 8. The startup, using generative AI to search big documents, also raised money from Peter Thiel, Index Ventures and Google Ventures and reaped a $700 million valuation.
Skild AI, $300 million: Pittsburgh-based Skild AI raised a $300 million Series A on July 9 that valued the company at $1.5 billion. The round was led by Lightspeed Venture Partners, Coatue and Jeff Bezos' Bezos Expeditions with participation from Sequoia, Menlo Ventures and General Catalyst, among others. Skild AI builds technology to power robots.
June
Bright Machines, $106 million: BlackRock led a $106 million Series C round into Bright Machines that closed on June 25. Other investors included Nvidia, Microsoft and Eclipse Ventures, among others. The startup makes both smart robotics and AI-driven software and has raised more than $437 million in total funding.
Etched.ai, $120 million. This San Francisco-based chip developer raised a $120 million series A funding round on June 25 led by Primary Venture Partners and Positive Sum. With participation from Two Sigma Ventures, Peter Thiel, and Kyle Vogt, among others, the venture is aimed at making chips run AI models faster and cheaper than GPUs.
EvolutionaryScale, $142 million: Here is a New York-based EvolutionaryScale, which has been developing biological AI models for therapeutic design. The seed round worth $142 million it closed on June 25 was led by Lux Capital, former GitHub CEO Nat Friedman, and Daniel Gross, an angel investor and former head of AI at Y Combinator. The company was founded in 2023.
AKASA, $120 million: Healthcare revenue cycle automation platform Akasa announced a $120 million round on June 18. In total, San Francisco-based startup has collected $205 million in funding, raising from investors including Andreessen Horowitz, Costanoa Ventures and Bond in prior rounds.
AlphaSense, $650 million: New York-based AlphaSense announced a $650 million Series F round on June 11. The round was led by Viking Global Investors and BDT & MSD Partners with participation from CapitalG, SoftBank Vision Fund and Goldman Sachs, among others. Founded in 2008, AlphaSense is a market intelligence platform. The company has raised more than $1.4 billion in venture funding and was most recently valued at $4 billion.
May
xAI, $6 bln: xAI- the new AI project from Elon Musk's crew- raised a jaw-dropping $6 billion Series B round on May 31 from investors, including Sequoia, Valor Equity Partners, and Fidelity among others. The startup is building an AI platform that will "accelerate human scientific discovery" and is valued at an equally stunning $24 billion.
Scale AI, $1 billion: Scale AI is a company that provides data-labeling services to businesses for training AI models. It raised $1 billion in May in a Series F round led by Accel, with Tiger Global, Spark Capital, and Amazon among the participants. Scale AI, based in San Francisco, has raised more than $1.6 billion and is valued at almost $14 billion.
Suno, $125 million: AI-music creation platform Suno raised $125 million in a Series B round that closed on May 21. The round values the Cambridge, Massachusetts, startup at $500 million. Founder Collective, Lightspeed Venture Partners and Matrix participated in the round in addition to former GitHub CEO Nat Friedman and former head of AI at Y Combinator Daniel Gross.
Weka, $140 million: Silicon Valley-based Weka created an AI-native data platform and raised $140 million in a Series E round that closed May 13. The funding was led by Valor Equity Partners with participation from Qualcomm Ventures, Nvidia and Hitachi Ventures, among others. The startup was valued at $1.6 billion.
CoreWeave, $1.1 billion: GPU infrastructure provider CoreWeave raised $1.1 billion in its Series C round that closed May 1. Leading the round was Coatue, with Fidelity, Altimeter Capital, Magnetar Capital and others. Launched in 2017, CoreWeave has reached a valuation of $19 billion.
April
Blaize, $106 million: AI computing platform company Blaize announced its raised a Series D round of $106 million on April 29; other investors participating include Temasek, Franklin Templeton and Bess Ventures, among others. Founded in 2010, the company has raised $242 million.
Raise, $227 million: Palo Alto-based Augment is raising $227 million for its AI coding assistant startup. The startup announced its Series B round on April 24. Investors include Lightspeed Venture Partners, Index Ventures, and Sutter Hill Ventures, which valued the company just shy of $1 billion.
Cognition, $175 million: Founders Fund-led applied AI lab startup Cognition's $175 million round closed on April 24. The funding follows close on the heels of a Series A round raised by the firm in March that came out to be $21 million, of which Founders Fund, along with many more investors, was a part, including Ramp co-founder Eric Glyman, Stripe co-founders Patrick and John Collison, and DoorDash co-founder Tony Xu. It was founded only in November 2023 and has been valued at nearly $2 billion.
Xaira Therapeutics, $1 bn: Xaira Therapeutics, a San Francisco-based AI drug discovery startup, raised a $1 billion Series A round. Foresite Capital and ARCH Venture Partners led the round that was announced on April 23. The round featured participation from Sequoia, NEA, and Lux Capital, among many others.
Cyera, $300 million: Coatue led the last month's $300 million Series C round into AI-powered data security platform Cyera that closed on April 9. It pegged New York-based startup at $1.4 billion. Other participants in the round include Sequoia, Redpoint and Accel.
March
Celestial AI, $175 million: Founded in 2020, Celestial AI is working on the optical interconnect technology platform for data centers and AI solutions. The firm has raised $175 million in a series C round that it has claimed will bring its total funding to $338 million in a round led by US Innovative Technology Fund, Thomas Tull. Investors participating in this round include M Ventures, Temasek, and Tyche Partners among others.
FundGuard, $100 million: FundGuard is a New York-based startup that provides an AI-powered investment accounting operating system with a valuation of $400 million after raising $100 million through a Series C round closed on March 25. Key1 Capital led the round, which included the participation of Hamilton Lane, Blumberg Capital and Team8, among others.
Together AI, $106 million: Salesforce Ventures led the $106 million Series A round for Together AI, valuing the company at $1.2 billion. Together AI is a platform built to help create infrastructure and open source generative AI in developing AI models. Others that participated include NEA, Kleiner Perkins, and Lux Capital. The round was announced March 13.
Zephyr AI, $111 million: The Fairfax Station, Virginia-based Zephyr AI closed its Series A round worth $111 million on March 13. The round saw participation from Revolution Growth, Eli Lilly and Company Foundation, EPIQ Capital Group, and investor Jeff Skoll. With a foundation in 2020, the AI startup is aimed at improving drug discovery and precision medicine using AI technology. Thus far, it has raised $129.5 million.
February
Glean, $203 million: Enterprise search startup Glean has raised $203 million in a 27 February round that valued the startup at $2.2 billion. The Series D round was led by Lightspeed Venture Partners and Kleiner Perkins with participation from Sequoia and Databricks Ventures among others. The Silicon Valley-based startup has raised more than $350 million in venture funding and the founder, Arvind Jain, was recently interviewed on TechCrunch's Found podcast.
Figure; $675 million: In Palo Alto, California-based AI robotics startup Figure raised a $675 million Series B round that closed on February 24. The round valued the startup at nearly $2.7 billion. Nvidia, OpenAI and Microsoft participated in the round, among others. The startup was founded in 2022 and has raised more than $850 million.
Abridge, Pittsburgh, $150 million : Abridge is an AI company that transcribes medical conversations. They raised a $150 million Series C round led by Redpoint and Lightspeed Venture Partners on February 23. USV, IVP, and Spark Capital also participated in this round. The series C brings the valuation of the six-year-old company to $850 million.
Recogni, $102 million: The company is building high-throughput yet low-power AI interface solutions, and on February 20 it raised a $102 million Series C round led by GreatPoint Ventures and Celesta Capital. Pledge Ventures, Mayfield, and DNS Capital participated in the round.
Lambda, $320 million: The San Francisco-based deep learning infrastructure company Lambda announced Feb. 15 a round of $320 million in Series C funding. A leader in the round was US Innovative Technology Fund, tied to Thomas Tull; the round also included Gradient Ventures, Mercato Partners and T. Rowe Price, among others. It has raised more than $900 million in venture capital and most recently was valued at $1.5 billion.
Magic, $117 m: The AI coding startup Magic closed a Series B round of $117 million on 12 February. The funding was led by NFDG Ventures and saw investments from CapitalG and angel investor Elad Gil. This San Francisco-based company has raised more than $145 million in total capital.
January
Kore.ai, $150 million: Kore.ai, a company building conversational AI for enterprises announced a $150 million Series D round led by FTV Capital on January 30. Nvidia, Vistara Growth, and NextEquity Partners, among others joined the Orlando, Florida headquartered company in the round. This is founded in 2013 and has raised over $223 million in funding.