Instinct Discusses $1 Billion Round at $10 Billion Valuation
The proposed financing would quadruple the personal AI assistant startup’s $2.5 billion valuation from an Aug. 26 Series B.
Instinct is in talks to raise about $1 billion at a valuation of roughly $10 billion, a proposed deal that would quadruple the personal AI assistant startup’s valuation in less than a month.
Sequoia Capital and Benchmark have discussed leading the potential financing, while Coatue Management has also been involved in discussions. The round has not closed, and its size, valuation and investor lineup could change.
Instinct’s Aug. 26 Series B put the company’s valuation at $2.5 billion after a $250 million raise. The financing brought the company’s total funding to $350 million and was co-led by Index Ventures and Benchmark.
Operated by Spear Street Technology and founded by Noah Shinn, Instinct offers an invite-only assistant that users can reach by text or phone call. The service performs tasks across connected apps and devices, including bookings, purchases and communications.
