Consumer-focused AI assistant startup Instinct reportedly raising $250M
Instinct, the developer of an artificial intelligence assistant popular among Silicon Valley tech workers, is reportedly raising $250 million in funding.
The company told the Wall Street Journal on Wednesday that the round is being co-led by Index Ventures and Benchmark. It’s set to value Instinct at $2.5 billion. The startup previously raised $100 million from a consortium that included Conviction Partners and Greenoaks.
Instinct, officially Spear Street Technology Inc., is led by Chief Executive Officer Noah Shinn. He previously worked at Sierra Inc., an AI startup headed by former OpenAI Group PBC board chair Bret Taylor. Instinct entered the consumer AI scene in February by making its assistant available via an invite-only private beta program.
Consumers can set up Instinct by connecting it to applications such as Gmail. The assistant can manage the user’s calendar, send emails and perform related tasks. It’s also capable of automating more complex multi-step workflows. Shinn told the Journal that one early adopter used Instinct to buy a house.
