Erik Voorhees’ Venice AI has raised $65 million at a $1 billion valuation, with VCs betting on growing demand for privacy-focused AI.

Venice AI is already profitable, with annualized run-rate revenues of over $70 million, CEO Erik Voorhees said.

Venice AI reaches unicorn status with a $65M Series A funding. FDV above $50M one day after launch at 93.9% YES.