Character.AI raises $150M in Series A funding

Character.AI, a Palo Alto, CA-based conversational AI technology company, closed a $150m Series A funding round at a $1 billion valuation.

The round was led by Andreessen Horowitz (a16z) with participation from previous investors, including Nat Friedman (former GitHub CEO), Elad Gil, SV Angel and A Capital. Andreessen Horowitz General Partner Sarah Wang will join Character.AI’s board of directors.

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The company intends to use the funds to continue its growth trajectory by expanding its compute abilities resulting in a sophisticated model with advanced reasoning and accuracy, delivering new features and capabilities to users, and expanding its engineering team.

Founded in 2021 by AI and large language model pioneers Noam Shazeer and Daniel De Freitas, Character.AI is a conversational artificial intelligence platform that uses large language models, deep learning algorithms that can recognize, summarize, translate, predict, and generate text and other content, to provide individuals with a personalized artificial intelligence experience. The platform lets anyone create and engage with Characters, allowing users to build their own, personalized use cases and share them with others.

Source: FinSMEs