In the entrepreneurial investment market of 2024, artificial intelligence (AI) companies continue to hold a significant position. Despite some voices indicating a waning enthusiasm for AI, data shows that investors remain confident in this field.
In the third quarter of this year, AI companies collectively raised $18.9 billion, accounting for 28% of all venture capital investments. Notably, OpenAI completed a $6.6 billion financing round on October 2, marking the largest single round of financing in history.
Below is a list of U.S. AI companies that have raised $100 million or more so far in 2024, compiled by foreign tech media Techcrunch:
October
AI legal tech company EvenUp completed a $135 million D round of financing led by Bain Capital Ventures, with participation from SignalFire and Lightspeed. This round of financing on October 8 valued the startup at $1 billion.
Berkeley-based KoBold Metals recently raised $491.5 million in a venture capital round. Investors have not been disclosed, but the company has previously raised funds from venture capital firms like Bond and Andreessen Horowitz.
On October 2, AI software development platform Poolside completed a $500 million B round of financing. This round was led by Bain Capital Ventures, with participation from Redpoint, StepStone, and Nvidia. This round valued the company at $3 billion.
On October 2, OpenAI announced the much-anticipated financing round. This $6.6 billion round is the largest ever, valuing the company at $157 billion. Thrive Capital led the round, with other investors including Tiger Global and SoftBank.
September
Enterprise search startup Glean announced its second round of financing for 2024 on September 10. The company raised $260 million in an E round, valuing it at $4.5 billion, an 87.5% increase in valuation since its February financing.
Safe Superintelligence, an AI research lab founded by former OpenAI co-founder Ilya Sutskever and AI investor Daniel Gross, announced on September 4 that it had raised $1 billion at a $4 billion valuation. Andreessen Horowitz, Sequoia, and DST Global participated in this round.
August
On August 29, AI coding startup Magic completed a significant second round of financing this year. The San Francisco-based company raised $320 million in a C round. CapitalG, Sequoia, and Jane Street Capital participated in this round. The company last raised $117 million in a B round in February.
General Catalyst led a $150 million C round of financing for AI coding platform Codeium, completed on August 29. Other participants included Kleiner Perkins and Greenoaks, valuing Codeium at $1.2 billion.
DevRev, developing AI-powered agents, achieved a $1.1 billion valuation after early financing. The Silicon Valley-based company raised $100 million in an A round, with investors including Khosla Ventures, Mayfield, and Param Hansa Values. The company was founded in 2020.
San Francisco-based Abnormal Security raised $250 million for its AI-driven email security company. This round was led by Wellington Management, with participation from Menlo Ventures, Greylock, and Insight Partners. The company is valued at over $5 billion.
Groq announced a $640 million D round of financing led by BlackRock on August 5. The AI chip startup also received investments from Type One Ventures, Verdure Capital Management, and Neuberger Berman. The company is valued at over $3 billion.
July
Reports indicate that renowned AI researcher Fei-Fei Li's startup, World Labs, raised $100 million in July, valuing the startup at over $1 billion. World Labs is seeking to build AI models that can accurately estimate the three-dimensional physical properties of real-world objects.
Legal tech company Harvey announced a $100 million C round of financing on July 23. This round was led by Google Ventures, with participation from OpenAI, Kleiner Perkins, and Sequoia. This round valued the San Francisco-based company at $1.5 billion.
Hebbia, $130 million: Andreessen Horowitz led a round of financing for Hebbia, which ended on July 8. The startup uses generative AI to search large documents and also received funds from Peter Thiel, Index Ventures, and Google Ventures, valuing it at $700 million.
Skild AI, $300 million: Pittsburgh-based Skild AI announced a $300 million A round of financing on July 9, valuing the company at $1.5 billion. This round was led by Lightspeed Venture Partners, Coatue, and Jeff Bezos' Bezos Expeditions, with participation from Sequoia, Menlo Ventures, and General Catalyst. Skild AI focuses on developing robotics.
June
Bright Machines, $106 million: BlackRock led a $106 million C round of financing for Bright Machines, which ended on June 25. Nvidia, Microsoft, and Eclipse Ventures also participated. The startup produces intelligent robots and AI-driven software, with total funding exceeding $437 million.
Etched.ai, $120 million: San Francisco-based Etched.ai completed a $120 million A round of financing on June 25. This round was led by Primary Venture Partners and Positive Sum, with participation from Two Sigma Ventures, Peter Thiel, and Kyle Vogt. Etched.ai is working to manufacture chips that can run AI models faster and cheaper than GPUs.
EvolutionaryScale, $142 million: New York-based EvolutionaryScale is developing bio AI models for therapeutic design. The company raised $142 million in a seed round, which ended on June 25. This round was led by Lux Capital, former GitHub CEO Nat Friedman, and angel investors, former Y Combinator AI head Daniel Gross. The company was founded in 2023.
AKASA, $120 million: Healthcare revenue cycle automation platform Akasa announced a $120 million financing round on June 18. The San Francisco-based startup has raised a total of $205 million and has previously received investments from Andreessen Horowitz, Costanoa Ventures, and Bond.
AlphaSense, $650 million: New York-based AlphaSense announced a $650 million F round of financing on June 11. This round was led by Viking Global Investors and BDT & MSD Partners, with participation from CapitalG, SoftBank Vision Fund, and Goldman Sachs. AlphaSense is a market intelligence platform founded in 2008. The company has raised over $1.4 billion in venture capital, with a recent valuation of $4 billion.
May
xAI, $6 billion: Elon Musk's xAI raised a staggering $6 billion B round of financing on May 31 from investors including Sequoia, Valor Equity Partners, and Fidelity. The startup is building an AI platform to "accelerate human scientific discovery," with a valuation of $24 billion.
Scale AI, $1 billion: Scale AI, a startup providing data labeling services for training AI models, raised $1 billion in May. The F round was led by Accel, with participation from Tiger Global, Spark Capital, and Amazon. Based in San Francisco, Scale AI has raised over $1.6 billion, with a current valuation of nearly $14 billion.
Suno, $125 million: AI music creation platform Suno raised $125 million in a B round of financing completed on May 21. This round valued the Cambridge, Massachusetts-based startup at $500 million. Founder Collective, Lightspeed Venture Partners, and Matrix participated in this round, along with former GitHub CEO Nat Friedman and former Y Combinator AI head Daniel Gross.
Weka, $140 million: Silicon Valley-based Weka created an AI-native data platform and raised $140 million in an E round of financing that ended on May 13. This round was led by Valor Equity Partners, with participation from Qualcomm Ventures, Nvidia, and Hitachi Ventures. The startup is valued at $1.6 billion.
CoreWeave, $1.1 billion: New Jersey-based GPU infrastructure provider CoreWeave raised $1.1 billion in a C round of financing completed on May 1. Coatue led this round, with participation from Fidelity, Altimeter Capital, and Magnetar Capital. CoreWeave was founded in 2017 and is valued at $19 billion.
April
Blaize, $106 million: AI computing platform company Blaize announced a $106 million D round of financing on April 29. Investors included Temasek, Franklin Templeton, and Bess Ventures. The company was founded in 2010 and has raised $242 million.
Augment, $227 million: Palo Alto-based Augment raised $227 million for its AI coding assistance startup. The company announced its B round of financing on April 24. Lightspeed Venture Partners, Index Ventures, and Sutter Hill Ventures participated in this round, valuing the startup at just under $1 billion.
Cognition, $175 million: Founders Fund led a $175 million financing round for applied AI lab startup Cognition, which ended on April 24. This round came about a month after the company raised $21 million in an A round from Founders Fund and several other investors, including Ramp co-founder Eric Glyman, Stripe co-founders Patrick and John Collison, and DoorDash co-founder Tony Xu. The company was founded in November 2023 and is valued at nearly $2 billion.
Xaira Therapeutics, $1 billion: San Francisco-based AI drug development startup Xaira Therapeutics raised $1 billion in an A round. Foresite Capital and ARCH Venture Partners led the round announced on April 23. Sequoia, NEA, and Lux Capital also participated.
Cyera, $300 million: Coatue led a $300 million C round of financing for AI data security platform Cyera, which ended on April 9. This round valued the New York-based startup at $1.4 billion. Sequoia, Redpoint, and Accel also participated.
March
Celestial AI, $175 million: Celestial AI, founded in 2020, is building optical interconnect technology platforms for data centers and AI solutions, and raised $175 million in a C round on March 27, bringing its total funding to $338 million. This round was led by Thomas Tull's American Innovation Technology Fund, with participation from M Ventures, Temasek, and Tyche Partners.
FundGuard, $100 million: FundGuard, a New York-based startup providing an AI-driven investment accounting operating system, raised $100 million at a $400 million valuation. The C round ended on March 25, led by Key1Capital, with participation from Hamilton Lane, Blumberg Capital, and Team8.
Together AI, $106 million: Salesforce Ventures led a $106 million A round of financing for Together AI, valuing the company at $1.2 billion. Together AI is a platform aimed at helping create infrastructure and open-source generative AI for developing AI models. NEA, Kleiner Perkins, and Lux Capital also participated. This round was announced on March 13.
Zephyr AI, $111 million: Fairfax Station, Virginia-based Zephyr AI raised $111 million in an A round of financing, which ended on March 13. Revolution Growth, the Lilly Foundation, EPIQ Capital Group, and investor Jeff Skoll participated. The startup was founded in 2020 and uses AI to enhance drug discovery and precision medicine. To date, it has raised $129.5 million.
February
Glean, $203 million: AI-driven enterprise search startup Glean raised $203 million in a round of financing on February 27, valuing the company at $2.2 billion. The D round was led by Lightspeed Venture Partners and Kleiner Perkins, with participation from Sequoia and Databricks Ventures. The Silicon Valley-based startup has raised over $350 million in venture capital.
Figure, $675 million: Silicon Valley-based AI robotics startup Figure completed a $675 million B round of financing on February 24. This round valued the startup at nearly $2.7 billion. Nvidia, OpenAI, and Microsoft participated in this round. The startup was founded in 2022 and has raised over $850 million.
Abridge, $150 million: Pittsburgh-based Abridge uses AI to transcribe medical conversations and completed a $150 million C round of financing on February 23. This round was led by Redpoint and Lightspeed Venture Partners, with participation from USV, IVP, and Spark Capital. This round valued the six-year-old company at $850 million.
Recogni, $102 million: The company designs high-output but low-power AI interface solutions and raised $102 million in a C round on February 20. This round was led by GreatPoint Ventures and Celesta Capital. Pledge Ventures, Mayfield, and DNS Capital also participated.
Lambda, $320 million: San Francisco-based deep learning infrastructure company Lambda raised $320 million in a C round announced on February 15. This round was led by Thomas Tull's American Innovation Technology Fund, with participation from Gradient Ventures, Mercato Partners, and T. Rowe Price. Lambda has raised over $900 million in venture capital, with a recent valuation of $1.5 billion.
Magic, $117 million: AI coding startup Magic raised $117 million in a B round of financing, which ended on February 12. This round was led by NFDG Ventures, with participation from CapitalG and angel investor Elad Gil. The San Francisco-based company has raised over $145 million in total capital.
January
Kore.ai, $150 million: Kore.ai, a startup building conversational AI for enterprises, announced a $150 million D round of financing on January 30. FTV Capital led the company based in Orlando, Florida. Nvidia, Vistara Growth, and NextEquity Partners also participated. Kore.ai was founded in 2013 and has raised over $223 million.
