Perplexity, a search service powered by AI large language models, has secured $73.6 million in a Series B funding round. The latest influx of capital includes investments from Amazon founder Jeff Bezos and leading technology company NVIDIA. Joining the investment landscape are a variety of new stakeholders such as Tobi Lutke, Bessemer Venture Partners, among others. The company's fundraising achievements now total a substantial $100 million.
AI-Driven Search Innovation
Perplexity offers a distinctive approach to online search, encouraging users to pose queries in natural language, akin to how one would interact with large language models like ChatGPT. Unlike traditional search engines that process keyword-based queries, Perplexity aims to provide comprehensive answers collated from the internet, showcasing the sources of information directly within the search results. The search engine also features a “Focus” button allowing users to narrow down their search sources to specialized platforms such as academic journals or social media.
To guide the deployment of the newly acquired funds, Cack Wilhelm, a General Partner at IVP which led the funding round, will be joining the Perplexity Board of Directors. According to Perplexity's CEO, Aravind Srinivas, the company is built on the promise of delivering instant, reliable answers with full source transparency. Srinivas underscores their commitment to accuracy and clarity in an age of misinformation, aspiring to make AI-powered search a staple tool for accelerated learning and efficient research. The company's vision encompasses a shift from the current state of sifting through SEO-driven content to direct, data-driven responses.
Investors see Perplexity not only as a promising venture but also as a potential competitor to search giants like Google and Bing. The support from Bezos Expeditions Fund underscores the shared belief in the need for innovation in the search engine market, hinting at an initiative to divert some of the traffic from the established players. With the new funding, Perplexity is poised to advance their search technology and possibly disrupt the current search engine paradigm.
