AI PowerPoint-killer Gamma hits $2.1B valuation, $100M ARR, founder says

Gamma, an innovative startup known for its AI-driven presentations, websites, and social media content, announced a significant milestone on Monday. The company successfully secured $68 million in a Series B funding round, propelling its valuation to an impressive $2.1 billion. This round was led by the esteemed venture capital firm, Andreessen Horowitz. Co-founder and CEO Grant Lee shared the exciting news on X, revealing that Gamma has achieved a remarkable $100 million in annual recurring revenue (ARR) with a user base of 70 million. Lee noted that the company reached a profitable $50 million in its first two years, underscoring its rapid growth and successful business model. Founded in late 2020, Gamma officially launched its product in 2022. Unlike many of its peers in the AI space, the startup has taken a more measured approach to fundraising, which has contributed to its impressive double unicorn status with a total of around $90 million raised to date. Remarkably, Gamma operates with a lean team of approximately 50 employees. The latest funding round also featured a secondary offering, providing liquidity to early employees. Additional participants in this investment round included Accel, Uncork Capital, and various other backers like South Park Commons and Hustle Fund. Gamma has yet to respond to requests for further comment.