Genspark cofounders Wen Sang and Eric Jing.
Genspark
AI agent startup Genspark is in talks to raise over $200 million and more than double its valuation to over $1 billion in a new funding round, months after it closed a $100 million series A round valuing the company at $530 million, sources told Forbes.
The Palo Alto-based company is in talks with both Silicon Valley and global funds, including LG Technology Ventures and SBI Investment in Japan, the sources said.
Genspark said in September it had reached $50 million in annualized run rate within five months of launching a suite of tools intended to allow knowledge workers to offload tedious tasks to AI, including an AI browser, an AI photo editor and AI-enabled meeting notes. This month, it launched a “super agent” product that it says can do many types of office work “with just one prompt,” according to the company’s blog.
The company intends to launch an enterprise-focused product soon, the sources said, following customer demand. The company also has offices in Tokyo and Singapore.
Originally, the company had a search product, which they killed off earlier this year, despite having amassed 5 million users, according to a company blog post. During its annual developer day in October, OpenAI put Genspark in its “trillion token club”, meaning Genspark is one of OpenAI’s top customers.
The startup’s founder, Eric Jing, is a Microsoft veteran who went on to lead web search at Baidu and found Xiaodu, an early voice assistant that was valued at over $5 billion, according to his LinkedIn. Chief operating officer and cofounder Wen Sang is an MIT PhD who founded and sold Smarking, an enterprise software company backed by Y Combinator and Khosla Ventures, per LinkedIn.
