Instinct, the developer of a personal AI assistant, is currently in negotiations to raise $1 billion in new funding. The startup aims for a post-money valuation of $10 billion. Sequoia Capital and Benchmark are reportedly in discussions to lead this financing round, though the final terms remain unconfirmed.
The company was founded last year by Noah Shinn, a former researcher at Sierra. The service operates as an invite-only AI agent capable of integrating with user applications and devices to manage tasks like travel planning, shopping, and subscription management via text or voice commands.
The startup previously secured $250 million in a Series B round last August, which was led by Index Ventures and Benchmark. That transaction brought the company's total funding to $350 million and established a valuation of $2.5 billion.
The new fundraising effort follows a period of growth for the platform, with the user base now exceeding 100 000 people. The company is seeking additional capital to address capacity constraints as it continues to expand access to its service.
