Instinct, a startup developing a personal AI assistant, is in talks to raise $1 billion at a valuation of about $10 billion, according to The Information, citing people familiar with the matter. The report said Sequoia Capital and Benchmark are discussing leading the round. The financing has not been finalized, and both the terms and the lead investor could still change. Earlier reporting said the company was seeking fresh capital as its invite-only AI agent service faced capacity constraints while expanding its reach. Its user base has grown to more than 100,000. PitchBook data shows the startup, identified as Spear Street Technology, raised $250 million less than a month ago at a $2.25 billion pre-money valuation. The company has raised a total of $350 million from investors to date.
Instinct, a startup building a personal AI assistant, is in talks to raise $1 billion at a valuation of roughly $10 billion, according to The Information, which cited people familiar with the matter.
Earlier reports said the company was seeking a new round of funding as its AI agent service, which is currently available only to invited users, has been running into capacity constraints. As the service has expanded, its user count has climbed to more than 100,000.
Sequoia Capital and Benchmark are in discussions to lead the round, the report said. The financing has not been finalized, and both the deal terms and the lead investor could still change.
The valuation under discussion would mark a sharp jump from the company’s previous financing. PitchBook data shows that the startup, named Spear Street Technology, raised $250 million less than a month ago at a pre-money valuation of $2.25 billion. The company has raised a total of $350 million from investors so far.
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