"Perplexity, the AI-powered search startup that compete with Google by providing conversational answers to user queries, has secured $200 million in new capital at a $20 billion valuation, The Information reported. The fresh funding comes just two months after the company raised $100 million at an $18 billion valuation, according to Bloomberg's July report. Since its founding three years ago, the rapidly growing AI company has raised $1.5 billion in total funding, according to PitchBook data."
"According to a source familiar with the company, Perplexity's annual recurring revenue (ARR) is approaching $200 million. Last month, Perplexity's head of communication told Business Insider that the company's ARR was more than $150 million. Perplexity didn't immediately respond to a request for comment. The funding comes as Perplexity positions itself as a challenger to Google's search dominance. In August, Perplexity offered to buy Google's Chrome browser for $34.5 billion."
Perplexity secured $200 million in new capital at a $20 billion valuation following a $100 million raise two months earlier at an $18 billion valuation. The company has raised $1.5 billion in total funding since its founding three years ago. The July financing extended a prior $500 million round completed earlier this year at a $14 billion valuation that was led by Accel. Perplexity's annual recurring revenue is approaching $200 million, with a recent ARR figure above $150 million. Perplexity positioned itself as a challenger to Google's search dominance and offered to buy Google's Chrome browser for $34.5 billion. A federal judge recently ruled that Google will not have to break up its search business.
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