Gamma, a startup that creates presentations, web sites and social media posts generated by artificial intelligence, announced on Monday, a $68 million Series B round at a $2.1 billion valuation, led by Andreessen Horowitz.
Co-founder and CEO Grant Lee published in October that the company profitably achieved $100 million in ARR with 70 million users. Lee, the startup made a profit of $50 million in its first two years previously published. Gamma recently raised $12 million in a Series A round run by Accel in 2024
Gamma is not a recent AI startup (at least by AI standards). According to the website, it was founded at the end of 2020 Lee on LinkedInand the product premiere will happen in 2022.
A more cautious fundraising path (by AI standards) helped it achieve a double-unicorn valuation with total fundraising of around $90 million. Lee said this was achieved with only about 50 employees. The round included a $20 million secondary offering that provided liquidity to early hires, based on TechCrunch. Accel and Uncork Capital and other sponsors also participated in the latest round switch on South Park Commons, Hustle Fund and others.