Perplexity's early Pitch Deck, early investors and how it's valued at ~20B Valuation
Perlexity's Deck and how they Unlocked the top VCs in the world
Perplexity isn’t “another chatbot.”
It’s one of the few AI startups with a credible shot at owning the default interface for search: ask a question, get a synthesized answer, and see the sources.
And the market has been funding that thesis aggressively.
In 2023, Perplexity raised a $25.6M Series A led by NEA, with participation from Databricks Ventures and a stacked group of top-tier angels.
In January 2024, it raised $73.6M led by IVP, with participation from Nvidia and Jeff Bezos.
By mid-2024, it raised roughly $250M at a ~$3B valuation, including SoftBank Vision Fund 2.
In December 2024, it reportedly closed a $500M round valuing the company at around $9B.
As of 2025, total capital raised has been reported at roughly $1.5B.
Recent fundraising discussions in 2025 suggested the company was at just under $100M ARR.
PMF is read by more than +1000 different VC firms & tens of thousands of the fastest growing startup founders including multiple YC founders.
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This isn’t just hype. It’s one of the fastest-scaling consumer AI products in the world, going directly after Google’s core behavior: search.
This issue opens up the hood of Perplexity’s December 2023 pitch deck.
I compiled the deck and included:
How Perplexity got valued this high (the real investor logic
The fundraising strategy that unlocked tier-1 VCs (and the playbook behind it)
The early deck + the key slides worth stealing
Check out the Perplexity deck with the free trial (no strings attached), or jump straight into premium!
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