AI Agent Startup Instinct Raises $1 Billion at $10 Billion Value

Instinct, the startup behind a viral artificial intelligence agent, has raised $1 billion in funding at a $10 billion valuation, a sign of investor demand for a new crop of AI products that carry out everyday tasks for users.

Sequoia Capital, Benchmark Capital and Coatue participated in the financing round, Instinct said on Monday. The company said last month it was fundraising at a $2.5 billion valuation.

The startup is one of a growing number of firms trying to translate recent advances in AI into tools that can act as dedicated digital personal assistants. Meta Platforms Inc. has also seen strong momentum recently with Muse, an AI agent that can connect to various email, calendar and messaging apps to field chores for users.

“This funding helps us bring Instinct to more people and continue building the future of personal AI,” Instinct founder Noah Shinn said in a statement on Monday.

Instinct is developing a personal AI agent that’s intended to help plan trips, make reservations and order groceries, among other jobs. The agent can use its own phone and computer to complete tasks, including making calls to businesses.

The startup has also built a system that allows its agents to communicate with one another to coordinate plans and exchange files for users.