AI Search Startup You.com Secures $50 Million Funding from Nvidia, DuckDuckGo, and Others
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On Thu, 5 Sept, 12:05 AM UTC
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Nvidia, DuckDuckGo Back AI Search Startup You.com
(Bloomberg) -- You.com, which makes an artificial intelligence-powered search engine and productivity tools, has raised $50 million in a new funding round that includes backing from Nvidia Corp. and Duck Duck Go Inc. The fresh capital brings the company's total haul to $99 million. Investor Georgian led the round, with participation from SBVA (formerly Softbank Ventures Asia), Salesforce Ventures and Day One Ventures. The company declined to share its latest valuation. Founder and Chief Executive Officer Richard Socher started You.com, officially called SuSea Inc., as an AI-powered search engine after spending four years as Salesforce Inc.'s chief scientist. As the company has grown, so has competition in the AI-powered search market, with Alphabet Inc. and Microsoft Corp. infusing AI into their search products, even as startups like Perplexity grow in popularity. Beyond just search, Socher aims to position You.com as a productivity tool for people at work and add AI agents to its offerings. "We don't just give you a list of blue links when you ask a question," he said. Right now, Google dominates the market for short informational inquiries, Socher acknowledged, but he said there's still opportunity in working with companies. You.com can generate more complex answers than competitors, he said, and the product can summarize information from multiple websites with citations. The company is also adding the ability to create custom AI agents to help with tasks at work. Right now, You.com works with a range of large language models, the technology that underpins generative AI chatbots, including from OpenAI, Google, Cohere and Meta Platforms Inc. It's also building its own LLM, Socher said. You.com claims millions of daily users, including at organizations like Salesforce, Stanford University and the startup Hugging Face. The startup said it has signed customer deals with social media firms, tech upstarts and publicly traded companies. It charges customers based on how much they use the service, which Socher said is key to helping large companies make the most of their AI investments. "We looked at how we can differentiate from a pretty busy space and No. 1 is accuracy, No. 2 is looking at customer success," Socher said in a Bloomberg Television interview. In the company's latest funding, Nvidia was the second-largest check in the round, Socher said, adding that the backing from corporate investors is evidence that there's demand for this kind of AI tool within workplaces. Reuters earlier reported some details of the funding talks. (Updates with quotes from TV interview starting in the seventh paragraph.)
[2]
Nvidia, DuckDuckGo Back AI Search Startup You.com
You.com, which makes an AI-powered search engine and productivity tools, has raised $50 million in a new funding round that includes backing from Nvidia and DuckDuckGo. You.com CEO Richard Socher joins Ed Ludlow and Caroline Hyde to discuss on "Bloomberg Technology." (Source: Bloomberg)
[3]
AI startup You.com gets backing from Nvidia, DuckDuckGo Back, raises $50 mn
The fresh capital brings the company's total haul to $99 million. Investor Georgian led the round, with participation from SBVA (formerly Softbank Ventures Asia), Salesforce Ventures and Day One Ventures. The company declined to share its latest valuation. Founder and Chief Executive Officer Richard Socher started You.com, officially called SuSea Inc., as an AI-powered search engine after spending four years as Salesforce Inc.'s chief scientist. As the company has grown, so has competition in the AI-powered search market, with Alphabet Inc. and Microsoft Corp. infusing AI into their search products, even as startups like Perplexity grow in popularity.
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You.com, an AI-powered search engine startup, has raised $50 million in a new funding round led by Nvidia and DuckDuckGo. The investment highlights the growing interest in AI-driven search technologies and their potential to challenge traditional search engines.
You.com Raises $50 Million in Latest Funding Round
You.com, an artificial intelligence-powered search engine startup, has successfully secured $50 million in a new funding round. The investment was led by prominent tech companies Nvidia and DuckDuckGo, signaling a strong vote of confidence in the potential of AI-driven search technologies 1.
Key Investors and Their Significance
The funding round saw participation from notable players in the tech industry. Nvidia, a leading manufacturer of graphics processing units (GPUs) and AI chips, has been at the forefront of the AI revolution. Their involvement suggests a strategic interest in the application of AI in search technologies. DuckDuckGo, known for its privacy-focused search engine, brings valuable expertise in the search market to the table 2.
You.com's Unique Approach to Search
Founded in 2020 by Richard Socher, former chief scientist at Salesforce, You.com aims to differentiate itself from traditional search engines by leveraging AI to provide more personalized and efficient search results. The platform allows users to customize their search experience and integrates various AI-powered apps directly into search results 3.
Market Impact and Future Prospects
This significant funding round positions You.com as a potential challenger to established search giants like Google and Microsoft's Bing. The investment reflects growing interest in alternative search technologies that prioritize user privacy and harness the power of AI to enhance search capabilities 1.
Expansion Plans and Technology Development
With the new capital, You.com plans to accelerate its growth and further develop its AI-driven search technology. The company aims to expand its user base and improve its platform's capabilities, potentially reshaping the search engine landscape 2.
Industry Trends and Implications
The investment in You.com reflects a broader trend in the tech industry, where AI-powered solutions are gaining traction across various sectors. As search engines evolve to incorporate more advanced AI technologies, users can expect more personalized, efficient, and potentially privacy-focused search experiences in the future 3.
Reference
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[3]
Perplexity AI: Rapid Growth and Potential $8 Billion Valuation Amid AI Search Revolution
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