Insiders: AI Assistant Company Instinct in Talks to Raise $1 Billion at Approximately $10 Billion Valuation

Tapbit news, September 16 – According to tech media outlet The Information,

Tapbit news, September 16 – According to tech media outlet The Information, people familiar with the matter said that the startup developing the personal AI assistant Instinct is in talks to raise $1 billion at a valuation of approximately $10 billion. Previous reports indicated that the startup is seeking a new round of funding because its currently invite-only AI agent service is facing capacity constraints, with user numbers having grown to over 100,000 as the service expands. Sequoia Capital and Benchmark are in talks to lead this round of funding. The funding round has not yet been finalized, and both the deal terms and the lead investors may change. This valuation represents a significant jump from the company’s previous funding round. According to PitchBook data, the startup, named Spear Street Technology, had just raised $250 million at a pre-money valuation of $2.25 billion less than a month ago. The company has raised a total of $350 million from investors to date.