IBL News | New York
AI startup Genspark closed a $275 million Series B round, bringing its valuation to the unicorn territory with $1.25 billion.
This round was backed by Emergence Capital Partners, SBI Investment, LG Technology Ventures, UpHonest Capital, and Pavilion Capital, a subsidiary of Singapore’s state-owned investor Temasek.
Palo Alto-based Genspark.ai offers a suite of AI workplace agents to automate everyday tasks, from creating slide decks to researching meeting attendees to recording meeting notes from an Apple Watch.
Its single, integrated platform has attracted users over the complexity of other productivity tools, reaching $50 million in annualized revenue.
The startup’s founder, Eric Jing, is a Microsoft veteran who built an early voice assistant valued at over $5 billion, according to his LinkedIn profile.
The CEO and cofounder, Wen Sang, is an MIT PhD who founded and sold Smarking, an enterprise software company backed by Y Combinator and Khosla Ventures.