AI assistant Instinct has raised $250 million in a Series B round that values the startup at $2.5 billion, according to The Wall Street Journal.
Index Ventures and Benchmark co-led the financing, taking the company's total funding to $350 million, WSJ reported on Wednesday.
Founded last year by 23-year-old Noah Shinn, Instinct operates the AI assistant through Spear Street Technology and is based in San Francisco.
According to the information on its website, Instinct is a personal AI agent trained to use a phone and computer in the same way people do. It can connect to a user's device or installed applications such as messaging and location to complete several tasks, including following up on conversations, arranging rides, booking services, and managing other everyday activities.
In an X post on Wednesday, Shinn said the assistant remains available through an invite-only private beta as the company scales its computing capacity. He noted that early users have used Instinct to plan road trips, buy groceries and concert tickets, cancel subscriptions and even plan a wedding.
"I’m thrilled with everything our early users are doing with Instinct," Shin wrote. "It’s available in an invite-only beta program while we’re actively bringing up more compute."
The raise comes as investors continue to show elevated appetite for AI companies. Earlier this week, Bloomberg reported Nvidia-backed AI cloud provider Lambda is also in talks to raise as much as $3 billion at a valuation of $12 billion or more.
Meanwhile, Velaura AI raised $110 million in Series A financing at a valuation of more than $1 billion, The Latent reported.