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AI Content Platform Jasper Raises $125M at a $1.5B valuation
As the enthusiasm around AI image and text generators grows, Jasper, a startup developing what it describes as an “AI content” platform, has raised $125M at a $1.5B valuation. The tranche is the company’s first, remarkably, and comes as Jasper is in the process of acquiring AI startup Outwrite, a grammar and style checker with more than a million users worldwide.
CEO Dave Rogenmoser tells TechCrunch the funding will be put toward building out Jasper’s core products, improving the customer experience and bringing Jasper’s technology to more apps. The round was led by Insight Partners with participation from Bessemer Venture Partners, IVP, Foundation Capital, Founders Circle Capital, Coatue and HubSpot Ventures.
According to Rogenmoser, Jasper has more than 70,000 customers and generated $40M in revenue last year. The company expects to end 2022 with over double that revenue — $90M — buoyed by the buzz around AI for adtech and martech.