AI startups in the US are continuing to attract significant funding in 2024, with 39 companies raising over $100 million each. Venture investors are showing strong interest in the AI sector, with a total of $18.9 billion raised by AI companies in the third quarter alone, accounting for 28% of all venture funding.
Among the standout deals in 2024 is OpenAI’s record-breaking $6.6 billion round, the largest venture deal of all time. This round was one of six AI funding rounds that exceeded $1 billion in 2024, highlighting the robust investor appetite for AI technologies.
Several U.S.-based AI companies have raised substantial amounts of funding this year. In October, EvenUp, a legaltech company, raised $135 million in a Series D round, while KoBold Metals secured $491.5 million in a recent venture round. Poolside, an AI-powered software development platform, closed a $500 million Series B round, and OpenAI raised $6.6 billion, valuing the company at $157 billion.
In September, Glean, an enterprise search startup, raised $260 million in a Series E round, while Safe Superintelligence, an AI research lab, announced a $1 billion raise at a $4 billion valuation. In August, Magic, an AI coding startup, raised $320 million in a Series C round, and Codeium, an AI-powered coding platform, closed a $150 million Series C round.
Other notable funding rounds include DevRev’s $100 million Series A round, Abnormal Security’s $250 million raise for its AI-driven email security platform, and Groq’s $640 million Series D round for its AI chip startup.
In July, World Labs, a startup founded by renowned AI researcher Fei-Fei Li, raised $100 million, and legal tech company Harvey announced a $100 million Series C round. Hebbia raised $130 million, Skild AI secured $300 million, and Renowned AI researcher Fei-Fei Li’s startup World Labs raised a $100 million round.
In June, Bright Machines raised $106 million, Etched.ai secured $120 million, EvolutionaryScale raised $142 million, AKASA closed a $120 million round, and AlphaSense raised $650 million in a Series F round.
May saw xAI raise $6 billion, Scale AI secure $1 billion, Suno raise $125 million, Weka close a $140 million round, and CoreWeave raise $1.1 billion in a Series C round. In April, Blaize raised $106 million, Augment secured $227 million, Cognition closed a $175 million round, Xaira Therapeutics raised $1 billion, and Cyera raised $300 million in a Series C round.
In March, Celestial AI raised $175 million, FundGuard secured $100 million, Together AI closed a $106 million Series A round, and Zephyr AI raised $111 million in a Series A round. In February, Glean raised $203 million, Figure secured $675 million, Abridge closed a $150 million Series C round, Recogni raised $102 million, and Lambda secured $320 million in a Series C round. In January, Kore.ai raised $150 million in a Series D round.
These significant funding rounds highlight the strong investor interest in AI startups in the US and the potential for continued growth and innovation in the sector. The AI sector is expected to remain a key focus for venture investors as technologies continue to advance and disrupt various industries.
