Wabi Says It Secured $55 Million at a $1.25 Billion Valuation

Wabi said Thursday it raised $55 million at a $1.25 billion valuation, backing its move toward a chat-based AI assistant that creates small tools for users and groups.

IVP led the financing, which Wabi said also involved Andreessen Horowitz, Forerunner and Amazon Alexa Fund. Angel investors included Tobi Lütke, Shopify’s CEO; Marc Benioff, Salesforce’s CEO; Marissa Mayer, Yahoo!’s former head; Dick Costolo, former Twitter CEO; and Alex Pall of The Chainsmokers.

Founded by Eugenia Kuyda, who also founded Replika, Wabi started with prompt-based app building before changing direction in September to an AI messenger. The company describes the service as a personal agent that can create mini apps for tasks such as meal planning, fitness plans and trivia games.

On Oct. 19, Wabi made its shared assistant available for group chats, where people can create tools such as a calendar, trip plan or tracker. Users can connect email and calendars to help with tasks, and may also add a payment method or bank account. Google, Anthropic and OpenAI may process requests and connected data while carrying out those tasks.

Andreessen Horowitz previously led Wabi’s $20 million pre-seed round, announced Nov. 5, 2025.