In 2024, there are 28 US-based AI startups that have secured funding of $100 million or higher

While some people experience AI fatigue, venture investors remain enthusiastic about the category. In the first half of 2024, global investments in AI startups exceeded $35.5 billion, according to recent data from Crunchbase. Among the six venture rounds that raised over $1 billion during this period, five were secured by AI companies.

Additionally, numerous other AI startups successfully secured mega-rounds of funding, surpassing $100 million. Notably, U.S.-based startups accounted for two of the billion-dollar rounds in the first half of the year and a significant 64% share of all mega-rounds.

Here’s a list of U.S.-based AI companies that have raised $100 million or more in 2024:

January

  1. Kore.ai, a startup specializing in conversational AI for enterprises, recently secured a $150 million Series D funding round. The announcement was made on January 30. FTV Capital spearheaded the investment in this Orlando-based company, with additional participation from Nvidia, Vistara Growth, NextEquity Partners, and other investors. Since its founding in 2013, Kore.ai has raised over $223 million in total funding

February

  1. Glean:
    • Raised $203 million in a Series D round on February 27.
    • Valuation: $2.4 billion.
    • Led by Lightspeed Venture Partners and Kleiner Perkins.
    • Participating investors: Sequoia, General Catalyst, Databricks Ventures, and others.
    • Total venture funding: Over $350 million.
  2. Figure:
    • Silicon Valley-based AI robotics startup.
    • Secured a $675 million Series B round closing on February 24.
    • Valuation: Nearly $2.7 billion.
    • Investors: Nvidia, OpenAI, Microsoft, and others.
    • Founded in 2022.
    • Total funding: More than $850 million.
  3. Abridge:
    • Pittsburgh-based startup using AI for medical conversation transcription.
    • Raised $150 million in a Series C round closing on February 23.
    • Led by Redpoint and Lightspeed Venture Partners.
    • Other participants: USV, IVP, Spark Capital, and more.
    • Valuation now at $850 million.
  4. Recogni:
    • Specializes in high-output, low-power AI interface solutions.
    • Raised $102 million in a Series C round on February 20.
    • Led by GreatPoint Ventures and Celesta Capital.
    • Additional contributors: Pledge Ventures, Mayfield, DNS Capital.
  5. Lambda:
    • San Francisco-based deep learning infrastructure company.
    • Secured $320 million in a Series C round announced on February 15.
    • Led by Thomas Tull’s US Innovative Technology Fund.
    • Investors include Gradient Ventures, Mercato Partners, T. Rowe Price.
    • Total venture capital raised: Over $900 million.
    • Most recent valuation: $1.5 billion.
  6. Magic:
    • AI coding startup based in San Francisco.
    • Closed a $117 million Series B round on February 12.
    • Lead investor: NFDG Ventures.
    • Also participated: CapitalG and angel investor Elad Gil.
    • Total capital raised: More than $145 million.

March

  1. Celestial AI:
    • Founded in 2020.
    • Raised $175 million in a Series C round on March 27.
    • Led by Thomas Tull’s US Innovative Technology Fund.
    • Total funding: $338 million.
  2. FundGuard:
    • New York-based startup offering AI-powered investment accounting.
    • Raised $100 million in a Series C round on March 25.
    • Led by Key1 Capital.
    • Valuation: $400 million.
  3. Together AI:
    • Platform for creating infrastructure and open-source generative AI.
    • Raised $106 million in a Series A round led by Salesforce Ventures.
    • Valuation: $1.2 billion.
    • Announced on March 13.
  4. Zephyr AI:
    • Based in Fairfax Station, Virginia.
    • Raised $111 million in a Series A round on March 13.
    • Investors: Revolution Growth, Eli Lilly and Company Foundation, EPIQ Capital Group, Jeff Skoll.
    • Focus: Enhancing drug discovery and precision medicine.
    • Total funding: $129.5 million.

April

  1. Blaize:
    • Raised $106 million in a Series D round announced on April 29.
    • Investors: Temasek, Franklin Templeton, Bess Ventures, and others.
    • Founded in 2010.
    • Total funding: $242 million.
  2. Augment:
    • Palo Alto-based AI coding assistance startup.
    • Secured $227 million in a Series B round announced on April 24.
    • Investors: Lightspeed Venture Partners, Index Ventures, Sutter Hill Ventures.
    • Valuation: Just shy of $1 billion.
  3. Cognition:
    • Applied AI lab startup.
    • Led by Founders Fund in a $175 million round closing on April 24.
    • Previously raised a $21 million Series A round in March.
    • Co-founders include Eric Glyman, Patrick Collison, John Collison, and Tony Xu.
    • Founded in November 2023.
    • Current valuation: Nearly $2 billion.
  4. Xaira Therapeutics:
    • San Francisco-based AI drug discovery startup.
    • Raised $1 billion in a Series A round announced on April 23.
    • Lead investors: Foresite Capital, ARCH Venture Partners.
    • Additional participants: Sequoia, NEA, Lux Capital, and more.
  5. Cyera:
    • New York-based AI-powered data security platform.
    • Closed a $300 million Series C round on April 9.
    • Lead investor: Coatue.
    • Also participated: Sequoia, Redpoint, Accel.

May

  1. xAI:
    • Elon Musk’s xAI secured a remarkable $6 billion in a Series B round on May 31.
    • Investors included Sequoia, Valor Equity Partners, Fidelity, and others.
    • The startup aims to build an AI platform for accelerating human scientific discovery.
    • Current valuation: An impressive $24 billion.
  2. Scale AI:
    • San Francisco-based Scale AI, which provides data-labeling services for training AI models, raised $1 billion in May.
    • The Series F round was led by Accel, with participation from Tiger Global, Spark Capital, Amazon, and more.
    • Total funding: Over $1.6 billion.
    • Current valuation: Nearly $14 billion.
  3. Suno:
    • Cambridge, Massachusetts-based AI-music creation platform Suno closed a $125 million Series B round on May 21.
    • Participants included Founder Collective, Lightspeed Venture Partners, Matrix, Nat Friedman (former GitHub CEO), and Daniel Gross (former head of AI at Y Combinator).
    • Valuation: $500 million.
  4. Weka:
    • Silicon Valley-based Weka developed an AI-native data platform.
    • Raised $140 million in a Series E round that concluded on May 13.
    • Valor Equity Partners led the funding, with participation from Qualcomm Ventures, Nvidia, Hitachi Ventures, and others.
    • Valuation: $1.6 billion.
  5. CoreWeave:
    • New Jersey-based GPU infrastructure provider CoreWeave secured $1.1 billion in a Series C round that closed on May 1.
    • Coatue led the round, joined by Fidelity, Altimeter Capital, Magnetar Capital, and more.
    • Launched in 2017, CoreWeave is currently valued at $19 billion.

June

  1. Bright Machines:
  2. Etched.ai:
    • San Francisco-based startup.
    • Secured a $120 million Series A round on June 25.
    • Lead investors: Primary Venture Partners, Positive Sum.
    • Goal: Develop chips for faster and more cost-effective AI model execution.
  3. EvolutionaryScale:
    • New York-based company.
    • Developing biological AI models for therapeutic design.
    • Raised $142 million in a seed round closing on June 25.
    • Led by Lux Capital, with participation from Nat Friedman and Daniel Gross.
    • Founded in 2023.
  4. AKASA:
    • Healthcare revenue cycle automation platform.
    • Announced a $120 million round on June 18.
    • Total funding collected: $205 million.
    • Investors include Andreessen Horowitz, Costanoa Ventures, and Bond.
  5. AlphaSense:
    • New York-based market intelligence platform.
    • Raised $650 million in a Series F round announced on June 11.
    • Lead investors: Viking Global Investors, BDT & MSD Partners.
    • Total venture funding: Over $1.4 billion.
    • Recent valuation: $4 billion.

July

  1. Hebbia:
    • Raised $130 million in a Series B round led by Andreessen Horowitz, closing on July 8.
    • Investors included Peter Thiel, Index Ventures, and Google Ventures.
    • Valuation: Approximately $700 million.
  2. Skild AI:
    • Pittsburgh-based robotics startup.
    • Secured a $300 million Series A round announced on July 9.
    • Lead investors: Lightspeed Venture Partners, Coatue, Jeff Bezos (through Bezos Expeditions).
    • Valuation: $1.5 billion.

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