Gamma, a startup that creates AI-generated presentations, websites, and social media posts, announced on Monday a $68 million Series B round at a $2.1 billion valuation led by Andreessen Horowitz.
Co-founder and CEO Grant Lee posted on X that the company has profitably hit $100 million in ARR, with 70 million users. The startup hit $50 million profitably in its first two years, Lee previously posted. Gamma last raised a $12 million Series A round led by Accel in 2024.
Gamma isn’t exactly a new-to-the-scene AI startup (at least by AI standards). It was founded in late 2020, according to Lee’s LinkedIn, with its product first launching in 2022.
Its more cautious raising trajectory (by AI standards) helped it hit a double-unicorn valuation on a total fundraising of about $90 million. This was achieved with only about 50 employees, Lee said. And the round included a $20 million secondary offering that gave liquidity to early employees, the company tells TechCrunch. The latest round also included participation from Accel and Uncork Capital, and its other backers include South Park Commons, Hustle Fund, and others.
