---
title: "Perplexity revenue and valuation"
description: "Perplexity's ARR is estimated at $600M–$930M, last reported at $750M. Valued at $20B after raising $1.48B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/perplexity.md
canonical_url: https://www.tryspecter.com/revenue-valuation/perplexity
publisher: Specter
last_updated: 2026-11-01
---

# 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.

Perplexity provides AI-powered, source-cited answers and research automation.

- Estimated revenue: $600M to $930M (October 2026)
- Estimated valuation: $21.3B to $36.1B (October 2026)
- Last reported ARR: $750M (August 2026)
- Total funding: $1.48B
- Founded: 2022
- Headquarters: San Francisco, United States
- Employees: 1,408
- Sector: AI search
- Specter Rank: #420,584

## 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.

| Reported figure | Date | Source |
| --- | --- | --- |
| $750M ARR | August 2026 | [Nvidia discusses Perplexity investment at $30 billion-plus valuation, The Information reports](https://reuters.com/technology/nvidia-discusses-perplexity-investment-30-billion-plus-valuation-information-2026-08-24/) (reuters.com) |
| $500M ARR | June 2026 | [Perplexity revenue is "far more" than $500M ARR. Burn cut more than 50%. IPO 2028 - or sooner.](https://x.com/PodcastAlphaX/status/2066674616907464883) (x.com) |
| $450M ARR | March 2026 | [$450M revenue. Perplexity's income rose after shifting focus from search to AI agents](https://ain.ua/2026/04/08/doxodi-perplexity-zrosli-na-50-zavdiaki-zmini-fokusu-z-posuku-na-si-agentiv/) (ain.ua) |
| $148M ARR | August 2025 | [🚀 From IIT to ₹270 Cr: Aravind Srinivas’ Wild AI Ride](https://www.linkedin.com/posts/kalyan-kumar-biswal_ai-startupjourney-perplexity-activity-7364506026320056321-zPv2) (linkedin.com) |
| $150M ARR | June 2025 | [Perplexity says it's moving away from ads and betting on subscriptions](https://www.businessinsider.com/perplexity-shifts-to-subscriptions-business-growth-2026-2) (businessinsider.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $750M | $600M | $930M |
| September 2026 | $750M | $620M | $920M |
| August 2026 | $750M | $620M | $900M |
| July 2026 | $610M | $500M | $750M |
| June 2026 | $500M | $420M | $600M |
| May 2026 | $500M | $400M | $630M |
| April 2026 | $500M | $410M | $610M |
| March 2026 | $500M | $420M | $600M |
| February 2026 | $450M | $370M | $540M |
| January 2026 | $470M | $380M | $580M |
| December 2025 | $500M | $420M | $600M |
| November 2025 | $370M | $290M | $460M |
| October 2025 | $270M | $220M | $340M |
| September 2025 | $200M | $166M | $240M |
| August 2025 | $148M | $123M | $178M |
| July 2025 | $148M | $121M | $182M |
| June 2025 | $149M | $124M | $179M |
| May 2025 | $120M | $100M | $144M |
| April 2025 | $120M | $97M | $148M |
| March 2025 | $120M | $93M | $156M |
| February 2025 | $120M | $93M | $155M |
| January 2025 | $89M | $71M | $108M |
| December 2024 | $67M | $38M | $96M |
| November 2024 | $72M | $35M | $109M |
| October 2024 | $66M | $35M | $96M |
| September 2024 | $53M | $29M | $77M |
| August 2024 | $96M | $48M | $143M |
| July 2024 | $42M | $26M | $58M |
| June 2024 | $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.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $27.7B | $21.3B | $36.1B |
| September 2026 | $26.7B | $21.4B | $33.4B |
| August 2026 | $30B | $24.9B | $36.1B |
| July 2026 | $13.1B | $10.2B | $16.8B |
| June 2026 | $5.72B | $4.63B | $7.08B |
| May 2026 | $2.5B | $2.08B | $3.01B |
| April 2026 | $5B | $3.94B | $6.34B |
| March 2026 | $10B | $8.23B | $12.2B |
| February 2026 | $20B | $16.6B | $24.1B |
| January 2026 | $20B | $16.4B | $24.4B |
| December 2025 | $20B | $16.6B | $24.1B |
| November 2025 | $20B | $16.1B | $24.8B |
| October 2025 | $20B | $16.2B | $24.7B |
| September 2025 | $20B | $16.6B | $24.1B |
| August 2025 | $18B | $15B | $21.6B |
| July 2025 | $18B | $15B | $21.6B |
| June 2025 | $15.9B | $12.9B | $19.5B |
| May 2025 | $14B | $11.6B | $16.8B |
| April 2025 | $9B | $7.49B | $10.8B |
| March 2025 | $3.48B | $2.69B | $4.5B |
| February 2025 | $1.35B | $1.08B | $1.67B |
| January 2025 | $520M | $430M | $630M |
| December 2024 | $1.35B | $1.02B | $1.77B |
| November 2024 | $3.48B | $2.8B | $4.33B |
| October 2024 | $9B | $7.49B | $10.8B |
| September 2024 | $18.3B | $12.7B | $26.4B |
| August 2024 | $16.7B | $12.4B | $22.5B |
| July 2024 | $15.3B | $12.1B | $19.4B |
| June 2024 | $14B | $11.6B | $16.8B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $30B | August 2026 | [siliconangle.com](https://siliconangle.com/2026/08/24/nvidia-reportedly-eyes-another-investment-in-perplexity-ai-at-a-30b-valuation/) |
| $2.5B | May 2026 | [linkedin.com](https://www.linkedin.com/posts/%D0%BA%D0%BE%D0%BD%D1%81%D0%B0%D0%BB%D1%82%D0%B8%D0%BD%D0%B3-%D0%BE%D0%B1%D1%83%D1%87%D0%B5%D0%BD%D0%B8%D0%B5-%D0%B8-%D0%BC%D0%B5%D0%BD%D1%82%D0%BE%D1%80%D1%81%D1%82%D0%B2%D0%BE-%D0%BE%D1%82-%D0%B6%D0%B5%D0%BC%D0%B0%D0%BB%D0%B0-%D1%85%D0%B0%D0%BC%D0%B8%D0%B4%D1%83%D0%BD%D0%B0_ai-investment-technology-activity-7458380608986333184-Olde) |
| $20B | February 2026 | [techcrunch.com](https://techcrunch.com/2026/02/20/the-openai-mafia-15-of-the-most-notable-startups-founded-by-alumni/) |
| $20B | December 2025 | [investing.com](https://www.investing.com/news/company-news/cristiano-ronaldo-invests-in-ai-startup-perplexity-93CH-4391708) |
| $20B | September 2025 | Funding round |
| $18B | August 2025 | Funding round |
| $18B | July 2025 | Funding round |
| $14B | May 2025 | Funding round |
| $9B | April 2025 | [italian.tech](https://www.italian.tech/2025/04/24/news/motorola_perplexity_accordo_google_intelligenza_artificiale-424146824/) |
| $520M | January 2025 | [webrazzi.com](https://webrazzi.com/2025/01/22/perplexity-nin-yapay-zeka-aramalari-icin-api-hizmeti-sonar/) |
| $9B | October 2024 | Funding round |
| $14B | June 2024 | [startupitalia.eu](https://startupitalia.eu/tech/chi-investe-500-milioni-di-dollari-in-perplexity-la-google-dellai-vicina-a-una-valutazione-da-14-miliardi/) |
| $1.04B | April 2024 | Funding round |
| $520M | January 2024 | Funding round |
| $2B | December 2023 | [techcrunch.com](https://www.techcrunch.com/category/venture/perplexity-reportedly-raised-200m-at-20b-valuation/) |
| $2B | November 2023 | [techcrunch.com](https://www.techcrunch.com/latest/3045634/perplexity-reportedly-raised-200m-at-20b-valuation/) |
| $14B | June 2023 | [techcrunch.com](https://www.techcrunch.com/in-brief/3045119/perplexity-reportedly-raised-200m-at-20b-valuation/) |
| $150M | March 2023 | Funding round |

## Perplexity funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 10 Sep 2025 | Venture round | $200M | $20B | Undisclosed |
| 15 Aug 2025 | Secondary | Undisclosed | $18B | NuVentures |
| 18 Jul 2025 | Venture round | $100M | $18B | Undisclosed |
| 12 May 2025 | Series E | $500M | $14B | Accel |
| 18 Dec 2024 | Secondary | Undisclosed | Undisclosed | Undisclosed |
| 15 Oct 2024 | Series D | $500M | $9B | Wayra, IVP |
| 14 Jun 2024 | Corporate round | $10M | Undisclosed | SK Telecom |
| 23 Apr 2024 | Series C | $62.7M | $1.04B | Daniel Gross |
| 4 Jan 2024 | Series B | $73.6M | $520M | IVP |
| 28 Mar 2023 | Series A | $25.6M | $150M | New Enterprise Associates |
| 1 Sep 2022 | Seed | $3.1M | Undisclosed | Elad Gil |

## Perplexity vs competitors

The AI search market is diverging into public-web information retrieval and proprietary enterprise knowledge management.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Perplexity | $600M–$930M | $21.3B–$36.1B |
| You.com (you.com) | $33M–$127M | $1.21B–$2.2B |
| Genspark (genspark.ai) | $191M–$440M | $2.05B–$3.38B |
| Andi (andisearch.com) | $1.6M–$6.2M | $22M–$127M |
| iAsk Ai (iask.ai) | $1.5M–$3M | $15M–$65M |

## Questions

### 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.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Perplexity revenue and valuation." tryspecter.com/revenue-valuation/perplexity. Updated November 2026.