Unveiled: The Comprehensive Directory of 28 American AI Enterprises Garnering Over $100 Million in Funding in 2024

While some may feel overwhelmed by AI, venture capitalists are demonstrating their unwavering enthusiasm for the sector.

In just the first six months of 2024, AI startups worldwide have attracted over $35.5 billion in investments, according to the latest figures from Crunchbase. Remarkably, five out of the six $1 billion-plus funding rounds during this period were secured by AI ventures.

A significant number of AI enterprises also managed to secure substantial funding rounds exceeding $100 million. In the U.S., companies completed two of the billion-dollar deals in the first half of the year, capturing almost 64% of these large-scale investments.

The following are U.S.-based AI organizations that have raised over $100 million in 2024 so far:

July

• Hebbia, $130 million: The funding round for Hebbia, which specializes in generative AI for document search, was led by Andreessen Horowitz and concluded on July 8. Contributions also came from Peter Thiel, Index Ventures, and Google Ventures, bringing the valuation to $700 million.
• Skild AI, $300 million: On July 9, Skild AI, hailing from Pittsburgh, announced a $300 million Series A funding round valuing the company at $1.5 billion. Lightspeed Venture Partners, Coatue, and Jeff Bezos’ Bezos Expeditions led the round, with additional support from Sequoia, Menlo Ventures, and General Catalyst. Skild AI is at the forefront of robotic technology development.

June

• Bright Machines, $106 million: BlackRock spearheaded a $106 million Series C investment in Bright Machines on June 25, with Nvidia, Microsoft, and Eclipse Ventures among the participants. The startup, known for its smart robotics and AI-driven software, has amassed over $437 million in funding.
• Etched.ai, $120 million: Etched.ai, based in San Francisco, secured a $120 million Series A investment on June 25. Led by Primary Venture Partners and Positive Sum, with contributions from Two Sigma Ventures, Peter Thiel, and Kyle Vogt among others. Etched.ai is dedicated to designing chips for running AI models more efficiently and affordably than traditional GPUs.
• EvolutionaryScale, $142 million: EvolutionaryScale, operating out of New York, focuses on creating biological AI models for designing therapeutics. It completed a $142 million seed investment on June 25, with Lux Capital, former GitHub CEO Nat Friedman, and Daniel Gross, an angel investor and former AI head at Y Combinator leading the round. The company started in 2023.
• AKASA, $120 million: On June 18, AKASA, a platform dedicated to automating the healthcare revenue cycle, announced a $120 million financing round. Based in San Francisco, the startup has now raised a total of $205 million, with prior funding from Andreessen Horowitz, Costanoa Ventures, and Bond.
• AlphaSense, $650 million: New York’s AlphaSense, a market intelligence platform, garnered a $650 million Series F round on June 11, led by Viking Global Investors and BDT & MSD Partners, with CapitalG, SoftBank Vision Fund, and Goldman Sachs participating. Founded in 2008, AlphaSense has attracted over $1.4 billion in venture investments, achieving a recent valuation of $4 billion.

May

• xAI, $6 billion: Elon Musk’s venture, xAI, secured an impressive $6 billion in Series B funding on May 31, from firms including Sequoia, Valor Equity Partners, and Fidelity. The company aims to expedite human scientific breakthroughs with its AI platform, now valued at a remarkable $24 billion.
• Scale AI, $1 billion: Specializing in data labeling for AI model training, Scale AI raised $1 billion in May. Its Series F round, spearheaded by Accel along with Tiger Global, Spark Capital, and Amazon among others, propels the San Francisco-based firm’s valuation to nearly $14 billion, with total funding exceeding $1.6 billion.
• Suno, $125 million: Suno, a pioneer in AI-music creation, offered a $125 million Series B round on May 21, valuing the Cambridge-based startup at $500 million. Founder Collective, Lightspeed Venture Partners, and Matrix contributed, alongside former GitHub CEO Nat Friedman and Daniel Gross, ex-AI head at Y Combinator.
• Weka, $140 million: Weka’s AI-native data platform led it to secure $140 million in a Series E investment closing on May 13, led by Valor Equity Partners with support from Qualcomm Ventures, Nvidia, and Hitachi Ventures. The Silicon Valley company now boasts a $1.6 billion valuation.
• CoreWeave, $1.1 billion: On May 1, GPU infrastructure provider CoreWeave, based in New Jersey, announced a $1.1 billion Series C round led by Coatue, with participation from Fidelity, Altimeter Capital, and Magnetar Capital. Since its inception in 2017, CoreWeave has reached a valuation of $19 billion.

April

• Blaize, $106 million: Blaize, an AI computing platform, secured $106 million in Series D funding on April 29, with Temasek, Franklin Templeton, and Bess Ventures participating. Founded in 2010, the company has raised a total of $242 million.
• Augment, $227 million: Palo Alto’s Augment captured $227 million in a Series B round for its AI coding aid start-up, announced on April 24. Lightspeed Venture Partners, Index Ventures, and Sutter Hill Ventures joined the round, pushing the valuation to just below $1 billion.
• Cognition, $175 million: Cognition, an applied AI laboratory, garnered $175 million in funding on April 24, shortly after securing a $21 million Series A in March from Founders Fund and numerous others, including notable tech figureheads. Founded in November 2023, it’s already nearing a $2 billion valuation.
• Xaira Therapeutics, $1 billion: Aiming at AI-driven drug discovery, San Francisco’s Xaira Therapeutics roped in a $1 billion Series A funding led by Foresite Capital and ARCH Venture Partners on April 23, with Sequoia, NEA, and Lux Capital among the contributors.
• Cyera, $300 million: Cyera, specializing in AI-powered data security, completed a $300 million Series C round on April 9, led by Coatue and valuing the New York start-up at $1.4 billion. Sequoia, Redpoint, and Accel were also among the backers.

March

• Celestial AI, $175 million: Celestial AI, developing an optical technology platform for data centers and AI applications, closed a $175 million Series C on March 27, raising its total funding to $338 million. The round was led by Thomas Tull’s US Innovative Technology Fund with M Ventures, Temasek, and Tyche Partners participating.
• FundGuard, $100 million: FundGuard, offering an AI-driven investment accounting system out of New York, secured a $100 million Series C investment, valuing the firm at $400 million on March 25. Key1 Capital led the round with Hamilton Lane, Blumberg Capital, and Team8 contributing.
• Together AI, $106 million: Salesforce Ventures spearheaded Together AI’s $106 million Series A funding, valuing it at $1.2 billion and acknowledging its contribution to AI infrastructure and model development. NEA, Kleiner Perkins, and Lux Capital also invested, announced on March 13.
• Zephyr AI, $111 million: Virginia’s Zephyr AI, enhancing drug discovery and precision medicine with AI, netted a $111 million Series A investment on March 13, with support from Revolution Growth, Eli Lilly and Company Foundation, EPIQ Capital Group, and investor Jeff Skoll. The company, founded in 2020, has accumulated $129.5 million in funding so far.

February

• Glean, $203 million: The AI-driven enterprise search firm Glean clinched $203 million in funding on February 27, pushing its valuation to $2.2 billion. Lightspeed Venture Partners and Kleiner Perkins led the Series D round, with Sequoia and Databricks Ventures also participating. The Silicon Valley company’s growth has been highlighted in more than $350 million raised.
• Figure, $675 million: AI robotics innovator Figure captured a $675 million Series B round on February 24, soaring its value to nearly $2.7 billion. Nvidia, OpenAI, and Microsoft were among the backers. Since its 2022 inception, the startup has totaled over $850 million in funds.
• Abridge, $150 million: Abridge, employing AI for medical conversation transcription in Pittsburgh, received $150 million in Series C funding on February 23. Redpoint and Lightspeed Venture Partners led, with USV, IVP, and Spark Capital joining. The six-year-old entity’s valuation hit $850 million with this round.
• Recogni, $102 million: Focused on efficient AI interfaces, Recogni attracted $102 million in Series C financing on February 20, orchestrated by GreatPoint Ventures and Celesta Capital. Mayfield, Pledge Ventures, and DNS Capital also invested.
• Lambda, $320 million: Lambda, a San Francisco deep learning infrastructure leader, raised $320 million in a Series C round announced on February 15. US Innovative Technology Fund led, with Gradient Ventures, Mercato Partners, and T. Rowe Price investing. Lambda’s total venture capital exceeds $900 million, with a recent $1.5 billion valuation.
• Magic, $117 million: AI software engineering breakthrough Magic secured $117 million in Series B funding on February 12. NFDG Ventures led, with support from CapitalG and angel investor Elad Gil. The company, based in San Francisco, has now raised over $145 million.

January

• Kore.ai, $150 million: Kore.ai, innovators in enterprise conversational AI, announced a $150 million Series D funding on January 30. The Orlando, Florida-based firm drew investment from FTV Capital, along with Nvidia, Vistara Growth, and NextEquity Partners, among others. Since its founding in 2013, Kore.ai has achieved over $223 million in total funding.

This report has been amended to correctly reflect the updated valuation of Glean.