Investing.com -- Instinct, the San Francisco-based startup developing an artificial intelligence personal agent, has raised $1 billion in a new funding round that values the company at $10 billion. The transaction underscores intense investor appetite for consumer-facing autonomous software capable of executing complex everyday tasks on behalf of users.
Sequoia Capital, Benchmark Capital, and Coatue participated in the financing round, according to a company announcement on Monday. The new valuation represents a fourfold increase from just last month, when the company was raising capital at a $2.5 billion valuation.
The company's flagship platform is designed to manage complex consumer tasks from start to finish, including booking travel, ordering groceries, and managing personal subscriptions. Operating through text or voice commands, the platform utilizes dedicated phone and computer capabilities to execute transactions and administrative workflows autonomously.
To enhance its commercial offering, Instinct recently launched its Concierge service to manage high-touch phone communications and specialized bookings, alongside a peer-to-peer protocol that enables separate Instinct agents to coordinate user plans directly. The company also integrated location-aware features and deployed security controls, including active detection systems designed to intercept model hallucinations prior to execution.
"We're building Instinct to be the best personal agent that can handle the deeply personal nuances of everyday life," said Noah Shinn, founder of Instinct. The fresh capital will primarily support product development and facilitate expanded access beyond the platform's current early-access phase.
Original Article
AI agent startup Instinct hits $10 billion valuation following $1 billion round
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