Technology
AI assistant startup Instinct secures $250 million Series B funding
The round values the one-year-old company at $2.5 billion despite ongoing user concerns regarding data privacy.
The short version
- Instinct raised $250 million in Series B funding, bringing its total funding to $350 million and valuation to $2.5 billion.
- The startup offers an AI assistant agent designed to organize tasks by integrating with user devices and apps.
- The app remains in private beta and faces user scrutiny over data privacy and broad system permissions.
Key facts
- Instinct raised $250 million in a Series B round co-led by Index Ventures and Benchmark.[TechCrunch]
- The latest funding brings total capital raised by Instinct to $350 million, valuing the company at $2.5 billion.[TechCrunch]
- Instinct is offered by Spear Street Technology and led by 23-year-old founder Noah Shinn.[TechCrunch]
- The AI service is currently in private beta and allows users to interact with the assistant via phone calls and text messages.[TechCrunch]
What remains uncertain
- It is unclear how Instinct plans to address online user concerns regarding its app permissions and terms of use.[TechCrunch]