Latham & Watkins Orchestrates $62.7M Series C Funding For Perplexity.AI, Valuing Company At Over $1 Billion
Perplexity.AI, the company that revolutionised search with its real-time, conversationally-styled answer engine, has
Latham & Watkins Orchestrates $62.7M Series C Funding For Perplexity.AI, Valuing Company At Over $1 Billion
Perplexity.AI, the company that revolutionised search with its real-time, conversationally-styled answer engine, has secured a massive $62.7 million in Series C funding, pushing its valuation above the $1 billion mark. This landmark deal was orchestrated by Latham & Watkins LLP, a law firm with a proven track record of guiding innovative tech companies through crucial financial milestones.
Leading the charge for Perplexity was Daniel Gross (former head of AI at Y Combinator). Notably, a who's who of existing investors, including tech titans like Jeff Bezos, NVIDIA, and Tobi Lutke, alongside industry heavyweights like Andrej Karpathy, IVP, NEA, Elad Gil, Nat Friedman and Naval Ravikant participated in the round. This renewed faith from these heavyweights underscores their continued confidence in Perplexity's Groundbreaking Technology.
Latham & Watkins LLP's expertise proved instrumental in securing this significant investment for Perplexity. The firm's Bay Area-based Emerging Companies and Growth team, led by Partners Ben Potter and Mike Podolny, served as Perplexity's trusted advisors throughout the funding process. Associates Justin Tzeng and Kayleigh Kuyon provided invaluable support, ensuring a smooth and successful transaction.
Latham & Watkins' commitment extended beyond just the legalities of the deal. Partner Ghaith Mahmood, based in Los Angeles, offered specialized guidance on Intellectual Property Matters, safeguarding Perplexity's cutting-edge Technology.
This latest feat adds to Latham & Watkins' impressive track record with Perplexity. The firm previously advised the company on its Series A and B financings, as well as its acquisition of Spellwise in 2023.