Perplexity revenue and valuation
Specter estimates Perplexity's annual revenue at $600M to $930M and its valuation at $21.3B to $36.1B. The company last reported $750M ARR in August 2026 and was priced at $20B in September 2025.
- Estimated revenue
- $600M–$930M
- Estimated valuation
- $21.3B–$36.1B
- Reported ARR
- $750M
- Total funding
- $1.48B
- Founded
- 2022
- Headquarters
- San Francisco, United States
- Employees
- 1,408
Perplexity revenue
Perplexity grew from $150M ARR in June 2025 to $750M in August 2026. Specter's model puts current ARR between $600M and $930M, anchored to five reported figures.
Monthly data
| Month | Specter estimate | Low | High | Reported ARR |
|---|---|---|---|---|
| $750M | $600M | $930M | ||
| $750M | $620M | $920M | ||
| $750M | $620M | $900M | $750M | |
| $610M | $500M | $750M | ||
| $500M | $420M | $600M | $500M | |
| $500M | $400M | $630M | ||
| $500M | $410M | $610M | ||
| $500M | $420M | $600M | $450M | |
| $450M | $370M | $540M | ||
| $470M | $380M | $580M | ||
| $500M | $420M | $600M | ||
| $370M | $290M | $460M | ||
| $270M | $220M | $340M | ||
| $200M | $166M | $240M | ||
| $148M | $123M | $178M | $148M | |
| $148M | $121M | $182M | ||
| $149M | $124M | $179M | $150M | |
| $120M | $100M | $144M | ||
| $120M | $97M | $148M | ||
| $120M | $93M | $156M | ||
| $120M | $93M | $155M | ||
| $89M | $71M | $108M | ||
| $67M | $38M | $96M | ||
| $72M | $35M | $109M | ||
| $66M | $35M | $96M | ||
| $53M | $29M | $77M | ||
| $96M | $48M | $143M | ||
| $42M | $26M | $58M | ||
| $39M | $22M | $55M |
Perplexity valuation
Perplexity's valuation rose from $150M at its Series A in March 2023 to $20B at its venture round in September 2025. Specter's live estimate sits between $21.3B and $36.1B.
Monthly data
| Month | Specter estimate | Low | High | Reported valuation |
|---|---|---|---|---|
| $27.7B | $21.3B | $36.1B | ||
| $26.7B | $21.4B | $33.4B | ||
| $30B | $24.9B | $36.1B | $30B (press) | |
| $13.1B | $10.2B | $16.8B | ||
| $5.72B | $4.63B | $7.08B | ||
| $2.5B | $2.08B | $3.01B | $2.5B (press) | |
| $5B | $3.94B | $6.34B | ||
| $10B | $8.23B | $12.2B | ||
| $20B | $16.6B | $24.1B | $20B (press) | |
| $20B | $16.4B | $24.4B | ||
| $20B | $16.6B | $24.1B | $20B (press) | |
| $20B | $16.1B | $24.8B | ||
| $20B | $16.2B | $24.7B | ||
| $20B | $16.6B | $24.1B | $20B (round) | |
| $18B | $15B | $21.6B | $18B (round) | |
| $18B | $15B | $21.6B | $18B (round) | |
| $15.9B | $12.9B | $19.5B | ||
| $14B | $11.6B | $16.8B | $14B (round) | |
| $9B | $7.49B | $10.8B | $9B (press) | |
| $3.48B | $2.69B | $4.5B | ||
| $1.35B | $1.08B | $1.67B | ||
| $520M | $430M | $630M | $520M (press) | |
| $1.35B | $1.02B | $1.77B | ||
| $3.48B | $2.8B | $4.33B | ||
| $9B | $7.49B | $10.8B | $9B (round) | |
| $18.3B | $12.7B | $26.4B | ||
| $16.7B | $12.4B | $22.5B | ||
| $15.3B | $12.1B | $19.4B | ||
| $14B | $11.6B | $16.8B | $14B (press) |
Perplexity funding rounds
| Date | Round | Raised | Post-money valuation | Lead investors |
|---|---|---|---|---|
| Venture round | $200M | $20B | Undisclosed | |
| Secondary | Undisclosed | $18B | NuVentures | |
| Venture round | $100M | $18B | Undisclosed | |
| Series E | $500M | $14B | Accel | |
| Secondary | Undisclosed | Undisclosed | Undisclosed | |
| Series D | $500M | $9B | Wayra, IVP | |
| Corporate round | $10M | Undisclosed | SK Telecom | |
| Series C | $62.7M | $1.04B | Daniel Gross | |
| Series B | $73.6M | $520M | IVP | |
| Series A | $25.6M | $150M | New Enterprise Associates | |
| Seed | $3.1M | Undisclosed | Elad Gil |
Perplexity competitors
The AI search market is diverging into public-web information retrieval and proprietary enterprise knowledge management.
| Company | Revenue | Valuation |
|---|---|---|
| $600M–$930M | $21.3B–$36.1B | |
| $33M–$127M | $1.21B–$2.2B | |
| $191M–$440M | $2.05B–$3.38B | |
| $1.6M–$6.2M | $22M–$127M | |
| $1.5M–$3M | $15M–$65M |
Perplexity revenue and valuation FAQ
What is Perplexity's revenue?
Specter estimates Perplexity's annual recurring revenue at $600M to $930M as of October 2026. Perplexity last reported $750M ARR in August 2026, up from $150M in June 2025.
What is Perplexity's valuation?
Perplexity's latest post-money valuation is $20B, from a September 2025 venture round. Specter's live estimate is $21.3B to $36.1B.
What is Perplexity's revenue multiple?
Perplexity is valued at about 26.7× ARR, based on its $20B September 2025 valuation and $750M last reported ARR. That works out to roughly $533K of ARR per employee.
How much funding has Perplexity raised?
$1.48B across 11 rounds, from a $3.1M Seed in September 2022 to a $200M venture round in September 2025.
Who invested in Perplexity?
53 investors, including Accel, Daniel Gross, IVP, NuVentures, SK Telecom and Wayra.
Who are Perplexity's competitors?
You.com, Genspark, Andi and iAsk Ai. Specter ranks 28 competitors for Perplexity.