AI personal assistant startup Instinct has raised $250 million in a new funding round that values the company at $2.5 billion, highlighting investors' continuing appetite for AI agents designed to carry out everyday tasks on behalf of users.
The Series B round was co-led by Benchmark and Index Ventures, according to a report cited by TechCrunch. The latest investment takes Instinct's total funding to about $350 million.
Instinct is led by founder Noah Shinn, a former researcher at enterprise AI startup Sierra. Forbes reported that the San Francisco company's valuation had risen rapidly during the summer, including an earlier Series A round that valued the business at more than $500 million.
The company's product is designed as an AI-powered personal assistant that can connect with a user's applications and devices. According to Instinct, the system can work with sources including email, messaging, screen activity, audio, and location information, and can be contacted through text messages or calls.
Rather than simply answering questions, the assistant is intended to take actions for users. Instinct says the system can follow up on unfinished conversations and organise practical tasks such as arranging transport or booking household services. Access remains restricted to a private group while the company increases its computing capacity.
The breadth of access required by personal AI agents has also prompted questions about privacy and data security. Forbes reported concerns from early users over the amount of personal information the service can access and retain, illustrating a broader challenge facing companies building agents that need access to emails, messages, and online accounts in order to act autonomously.
The funding comes as investors increasingly focus on AI agents capable of completing transactions and operating software rather than functioning primarily as conversational chatbots. Instinct's valuation suggests venture capital firms expect personal AI assistants to become a significant new consumer technology category.
