Here's the List of 35 US AI Startups That Raised $100M+ in 2024

Here’s the Full List of 35 US AI Startups That Have Raised $100M or More in 2024

The buzz around US AI startups is undeniable. As we dive into 2024, it’s clear that venture investors are not slowing down their enthusiasm for artificial intelligence. In the first half of the year alone, AI startups around the globe attracted over $35.5 billion in investments, according to recent Crunchbase data. Notably, five of the six venture rounds exceeding $1 billion were clinched by AI companies. Since July, the trend has continued with ten more mega-rounds, amassing over $3 billion. Of this, $1 billion was secured by a new venture led by OpenAI’s co-founder Ilya Sutskever.

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September: Major AI Funding Announcements

Safe Superintelligence

Safe Superintelligence, an ambitious AI research lab founded by Ilya Sutskever and AI investor Daniel Gross, made headlines on September 4. The lab raised a staggering $1 billion at a valuation of $4 billion. This massive round saw participation from top-tier investors including Andreessen Horowitz, Sequoia, and DST Global. Safe Superintelligence aims to push the boundaries of AI research and development, setting a high bar for future US AI startups.

AI Coding Startup Magic

On August 29, Magic, a San Francisco-based AI coding startup, raised its second mega-round of the year. The company secured $320 million in its Series C round, with CapitalG, Sequoia, and Jane Street Capital among the participants. This funding follows a previous $117 million Series B round in February, highlighting Magic’s rapid growth and its role in advancing AI-driven coding solutions.

Codeium’s Growth

General Catalyst led a significant $150 million Series C round into Codeium, an AI-powered coding platform, which closed on August 29. Other notable investors included Kleiner Perkins and Greenoaks. This round valued Codeium at an impressive $1.2 billion, reflecting the increasing importance of AI in the coding industry and the confidence investors have in this technology.

DevRev’s Impressive Valuation

DevRev, known for its AI support agents, has achieved a remarkable $1.1 billion valuation following its early-stage raise. The company raised $100 million in its Series A round with contributions from Khosla Ventures, Mayfield, and Param Hansa Values. Founded in 2020, DevRev is making significant strides in revolutionizing AI-based customer support.

Abnormal Security’s Success

Abnormal Security, a San Francisco-based firm specializing in AI-driven email security, raised $250 million in August. Led by Wellington Management, with participation from Menlo Ventures, Greylock, and Insight Partners, this funding round values the company at over $5 billion. Abnormal Security’s advanced email protection solutions are increasingly vital in today’s digital security landscape.

Groq’s Series D Funding

On August 5, Groq, an AI chip startup, announced a $640 million Series D round. Led by BlackRock, the round also saw investments from Type One Ventures, Verdure Capital Management, and Neuberger Berman. Groq’s cutting-edge AI chips are crucial for accelerating AI computations, and the company is valued at over $3 billion.

July: Noteworthy AI Investments

World Labs’ Funding

In July, World Labs, a startup founded by renowned AI researcher Fei-Fei Li, raised $100 million. Valued at over $1 billion, the company is focused on developing AI models that can accurately estimate the three-dimensional physicality of real-world objects. This substantial investment underscores the growing interest in advanced AI modeling.

Harvey’s Legal Tech Innovations

Harvey, a legal tech company based in San Francisco, raised $100 million in its Series C round on July 23. The round was led by Google Ventures, with contributions from OpenAI, Kleiner Perkins, and Sequoia. This funding round values Harvey at $1.5 billion, highlighting the growing role of AI in the legal sector.

Hebbia’s Generative AI

Hebbia raised $130 million in a Series A round that closed on July 8. Led by Andreessen Horowitz, the round also included investments from Peter Thiel, Index Ventures, and Google Ventures. Hebbia uses generative AI to enhance document search capabilities and has achieved a $700 million valuation.

Skild AI’s Robotics Technology

Skild AI, based in Pittsburgh, announced a $300 million Series A round on July 9. This funding round, led by Lightspeed Venture Partners, Coatue, and Jeff Bezos’ Bezos Expeditions, valued the company at $1.5 billion. Skild AI focuses on technology to power robots, showcasing the growing intersection of AI and robotics.

June: AI Funding Highlights

Bright Machines’ Expansion

On June 25, Bright Machines secured $106 million in a Series C round led by BlackRock. Other participants included Nvidia, Microsoft, and Eclipse Ventures. The company, which specializes in smart robotics and AI-driven software, has now raised over $437 million in total funding.

Etched.ai’s Advancements

Etched.ai, based in San Francisco, raised $120 million in its Series A round on June 25. Led by Primary Venture Partners and Positive Sum, with participation from Two Sigma Ventures, Peter Thiel, and Kyle Vogt, Etched.ai is working on AI chips that promise to run models faster and cheaper than GPUs.

EvolutionaryScale’s Breakthroughs

New York-based EvolutionaryScale raised $142 million in a seed round that closed on June 25. The round was led by Lux Capital, former GitHub CEO Nat Friedman, and angel investor Daniel Gross. EvolutionaryScale is developing biological AI models for therapeutic design and was founded in 2023.

AKASA’s Healthcare Innovations

Healthcare revenue cycle automation platform Akasa announced a $120 million round on June 18. The San Francisco-based startup has now raised $205 million in total funding, with investors including Andreessen Horowitz, Costanoa Ventures, and Bond. Akasa’s solutions are transforming healthcare administration.

AlphaSense’s Market Intelligence

AlphaSense, a New York-based market intelligence platform, raised a colossal $650 million in a Series F round on June 11. Led by Viking Global Investors and BDT & MSD Partners, with participation from CapitalG, SoftBank Vision Fund, and Goldman Sachs, AlphaSense is valued at $4 billion.

May: Significant AI Rounds

xAI’s Record-Breaking Investment

Elon Musk’s xAI made headlines on May 31 by raising an astonishing $6 billion in a Series B round. With investments from Sequoia, Valor Equity Partners, and Fidelity, xAI is working on an AI platform designed to accelerate human scientific discovery. The startup is valued at $24 billion, reflecting its groundbreaking potential.

Scale AI’s Expansion

Scale AI, a startup providing data-labeling services, raised $1 billion in May. The Series F round, led by Accel, saw participation from Tiger Global, Spark Capital, and Amazon. Based in San Francisco, Scale AI has now raised over $1.6 billion and is valued at nearly $14 billion.

Suno’s AI Music Creation

Suno, an AI-music creation platform based in Cambridge, Massachusetts, raised $125 million in a Series B round that closed on May 21. Participating investors included Founder Collective, Lightspeed Venture Partners, and Matrix, along with Nat Friedman and Daniel Gross. The company is valued at $500 million.

Weka’s AI-Native Data Platform

Weka, based in Silicon Valley, raised $140 million in a Series E round on May 13. Led by Valor Equity Partners, with contributions from Qualcomm Ventures, Nvidia, and Hitachi Ventures, Weka’s AI-native data platform is valued at $1.6 billion.

CoreWeave’s Infrastructure Investment

CoreWeave, a New Jersey-based GPU infrastructure provider, raised $1.1 billion in a Series C round that closed on May 1. Led by Coatue, with participation from Fidelity, Altimeter Capital, and Magnetar Capital, CoreWeave is valued at $19 billion.

April: Noteworthy Deals

Blaize’s AI Computing Platform

Blaize, an AI computing platform company, raised $106 million in a Series D round announced on April 29. Investors included Temasek, Franklin Templeton, and Bess Ventures. Founded in 2010, Blaize has raised a total of $242 million.

Augment’s AI Coding Assistance

Augment, based in Palo Alto, raised $227 million in its Series B round on April 24. With participation from Lightspeed Venture Partners, Index Ventures, and Sutter Hill Ventures, the round valued Augment just under $1 billion. The company provides AI-powered coding assistance.

Cognition’s Applied AI Lab

Cognition, an applied AI lab startup, secured $175 million in April, with Founders Fund leading the round. The company, which raised a $21 million Series A round in March, is already valued at nearly $2 billion. The investment highlights the increasing interest in applied AI solutions.

Xaira Therapeutics’ Drug Discovery

San Francisco-based Xaira Therapeutics raised $1 billion in a Series A round on April 23. Led by Foresite Capital and ARCH Venture Partners, with participation from Sequoia, NEA, and Lux Capital, Xaira focuses on AI-driven drug discovery and is valued at $1 billion.

Cyera’s Data Security

Cyera, a New York-based AI-powered data security platform, raised $300 million in a Series C round on April 9. Led by Coatue, with contributions from Sequoia, Redpoint, and Accel, Cyera is valued at $1.4 billion and is making strides in AI-driven data protection.

March: AI Funding Takes Off

Celestial AI’s Optical Interconnect Technology

In March 2024, Celestial AI, a company building optical interconnect technology platforms for data centers and AI solutions, raised $175 million in its Series C round. Founded in 2020, Celestial AI is creating technology that promises to revolutionize the efficiency of data centers by enhancing the speed and power of AI solutions. The round was led by Thomas Tull’s US Innovative Technology Fund, with contributions from M Ventures, Temasek, and Tyche Partners. With a total of $338 million in funding, Celestial AI is positioning itself as a leader in infrastructure solutions for AI and data centers, addressing the increasing demands of processing power needed by US AI startups.

FundGuard’s Investment Accounting System

Also in March, FundGuard, a New York-based startup that provides AI-powered investment accounting systems, secured a $100 million Series C round. This round valued the startup at $400 million and was led by Key1 Capital, with participation from Hamilton Lane, Blumberg Capital, and Team8. FundGuard’s innovative accounting operating system is built with AI at its core, allowing financial institutions to streamline investment accounting, monitor portfolios, and reduce operational risks. This kind of innovation showcases the significant advancements US AI startups are making in the financial tech sector.

Together AI’s Open Source Platform

March also saw Together AI, an AI startup focusing on creating infrastructure and open-source generative AI models, raise $106 million in its Series A round. Led by Salesforce Ventures, the round valued Together AI at $1.2 billion. Other participants included NEA, Kleiner Perkins, and Lux Capital. Together AI’s platform allows developers to leverage open-source models, encouraging innovation and the rapid development of AI solutions. This type of collaborative environment is a key driver of growth for many US AI startups, enabling them to innovate more freely and reduce the barriers to creating sophisticated AI models.

Zephyr AI’s Medical Advancements

In the healthcare sector, Zephyr AI made a major move in March 2024 by raising $111 million in its Series A round. Based in Fairfax Station, Virginia, Zephyr AI uses artificial intelligence to enhance drug discovery and precision medicine. The round was led by Revolution Growth, with participation from Eli Lilly and Company Foundation, EPIQ Capital Group, and investor Jeff Skoll. Zephyr AI’s mission is to improve the speed and accuracy of medical discoveries, which could revolutionize how treatments are developed. With its focus on healthcare AI, Zephyr is setting a strong precedent for how AI can be integrated into life sciences to benefit the broader medical community.

February: Early-Year AI Investments

Glean’s Enterprise Search Solutions

In February 2024, Glean, an AI-driven enterprise search startup, raised $203 million in a Series D round. The round valued the Silicon Valley-based company at $2.2 billion, with major investors including Lightspeed Venture Partners, Kleiner Perkins, and Sequoia. Glean specializes in creating AI solutions for enterprise search, making it easier for organizations to retrieve and organize their data. With over $350 million raised so far, Glean’s success reflects the growing importance of AI tools in improving business operations, and this trend is becoming increasingly evident across US AI startups focused on enterprise solutions.

Figure’s Robotics Revolution

Another significant raise in February was Figure, a Silicon Valley-based AI robotics startup, which raised $675 million in a Series B round. The round closed on February 24 and valued the company at nearly $2.7 billion. With backing from major players like Nvidia, OpenAI, and Microsoft, Figure is working on advancing robotics through AI, developing robots capable of performing complex tasks autonomously. Robotics and AI are becoming increasingly intertwined, and Figure’s progress signals the future direction of many US AI startups as they look to combine machine learning with physical automation.

Abridge’s Healthcare Transcription

In the medical field, Abridge, a Pittsburgh-based company using AI to transcribe medical conversations, raised $150 million in a Series C round on February 23. The round was led by Redpoint and Lightspeed Venture Partners, with participation from USV, IVP, and Spark Capital. Abridge’s AI technology helps healthcare providers by accurately transcribing doctor-patient conversations, streamlining medical record-keeping, and ensuring better patient outcomes. This kind of specialized AI solution is crucial in industries where precision and reliability are key, and Abridge is demonstrating how AI can transform healthcare communication.

Recogni’s AI Interface Solutions

On February 20, Recogni raised $102 million in a Series C round. This company designs high-output, low-power AI interface solutions, and its technology is designed to significantly enhance the processing capabilities of AI systems without consuming excessive power. The round was led by GreatPoint Ventures and Celesta Capital, with participation from Pledge Ventures, Mayfield, and DNS Capital. Recogni’s innovations are aimed at improving the performance of AI applications in sectors like autonomous vehicles and smart devices, making it a vital player among US AI startups tackling infrastructure challenges.

Lambda’s Deep Learning Infrastructure

Lastly, in February, Lambda, a deep learning infrastructure company based in San Francisco, raised $320 million in a Series C round. Led by Thomas Tull’s US Innovative Technology Fund, with contributions from Gradient Ventures, Mercato Partners, and T. Rowe Price, Lambda focuses on building infrastructure that allows companies to train deep learning models at scale. Lambda’s deep learning tools are critical for US AI startups that need to process massive amounts of data efficiently, and the company’s technology is poised to support many advancements in AI research and development.

January: A Strong Start to 2024

Kore.ai’s Conversational AI

Starting off 2024 strong, Kore.ai, a Florida-based startup building conversational AI for enterprises, raised $150 million in a Series D round announced on January 30. FTV Capital led the round, with participation from Nvidia, Vistara Growth, and NextEquity Partners. Kore.ai’s platform enables enterprises to deploy AI-powered virtual assistants and chatbots to improve customer interactions. This funding round brings Kore.ai’s total raised to $223 million and reflects the growing demand for AI-powered communication tools in customer service and enterprise management. US AI startups like Kore.ai are driving forward innovations in conversational AI that will likely shape how businesses interact with their customers.

The Future of AI Funding

As we look ahead to the remainder of 2024, it’s clear that the momentum behind US AI startups will continue to build. The companies listed above represent just a portion of the transformative work happening across the AI landscape. Venture capital investments are pouring into a wide range of AI sectors, from robotics and healthcare to deep learning and enterprise solutions. With advancements in AI accelerating, more startups are breaking barriers and attracting major funding, setting the stage for even more groundbreaking developments in the future.

By keeping a close eye on these companies and their innovations, we can expect to see AI integrated into more aspects of everyday life, driving efficiencies, improving decision-making, and creating entirely new opportunities for growth and development. As US AI startups continue to attract significant investments, their impact on industries worldwide will only deepen, making this a pivotal time in the evolution of artificial intelligence.

FAQs:

How many AI startups are there in the US?

As of 2024, there are thousands of AI startups operating in the United States, with estimates ranging between 3,000 to 5,000 companies. The number continues to grow as AI technology evolves and becomes integrated into various industries, from healthcare to finance. US AI startups are at the forefront of global AI innovation, attracting significant venture capital and making substantial contributions to the AI ecosystem.

What is the best AI startup?

Determining the “best” AI startup depends on the industry and criteria used to evaluate them. Some standout AI startups in 2024 include Scale AI, which specializes in data labeling for AI models, and OpenAI, known for its groundbreaking advancements in language models like ChatGPT. Startups like Magic and xAI are also highly regarded for their contributions to AI coding and scientific discovery. The best AI startup is often subjective and tied to specific needs or technologies, such as natural language processing, computer vision, or robotics.

How much does the US invest in AI?

The United States continues to lead the world in AI investments, with over $35.5 billion invested into AI startups globally in the first half of 2024 alone. A significant portion of this investment is focused on US-based companies, with AI startups receiving substantial venture capital from investors like Sequoia, Andreessen Horowitz, and Google Ventures. The US government has also allocated resources toward AI research and development, further fueling the growth of the industry.

What is the biggest AI company in the USA?

One of the largest AI companies in the USA is OpenAI, which is widely known for its advancements in AI language models and its collaboration with industry leaders like Microsoft. OpenAI has raised billions in funding and plays a key role in shaping the future of artificial intelligence. Other major players include Google DeepMind and Nvidia, both of which are driving AI innovation across multiple sectors, from healthcare to autonomous systems.