Gamma Raises $68 Million in Series B Round Led by Andreessen Horowitz
Gamma, a startup that specializes in creating AI-generated presentations, websites, and social media posts, recently announced a successful $68 million Series B round at a valuation of $2.1 billion. The funding was led by Andreessen Horowitz, a prominent venture capital firm in the tech industry.
Co-founder and CEO Grant Lee shared the exciting news on social media, revealing that the company has reached $100 million in annual recurring revenue (ARR) and has amassed a user base of 70 million. This milestone comes after Gamma achieved $50 million in ARR profitably within its first two years of operation.
Established in late 2020, Gamma officially launched its product in 2022. Despite being a relatively young player in the AI space, the company has managed to secure a double-unicorn valuation with a conservative fundraising approach. With a team of just 50 employees, Gamma has raised a total of approximately $90 million, including a recent $68 million Series B round.
The latest funding round included a $20 million secondary offering to provide liquidity to early employees. In addition to Andreessen Horowitz, Accel and Uncork Capital also participated in the round. Gamma’s impressive list of backers includes South Park Commons, Hustle Fund, and other notable investors.
