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Latham & Watkins Advises Perplexity.AI in US$73.6 Million Series B Financing

January 5, 2024
A Bay Area team represents the AI software led search and discovery engine in latest funding round valuing the company at US$520 million.

Perplexity.AI (Perplexity), the builder of the world's first generally available conversational answer engine that draws from credible sources in real-time and directly answers users' questions with sourcing and citations, has announced it has raised US$73.6 million in a Series B funding round. The investment was led by venture capital firm IVP with participation from NVIDIA, NEA, Bessemer, Elad Gil, Jeff Bezos, Nat Friedman, Databricks, Tobi Lutke, Guillermo Rauch, Naval Ravikant, and Balaji Srinivasan.

Latham & Watkins LLP advised Perplexity in the financing with a Bay Area-based Emerging Companies team led by partners Ben Potter and Michael Podolny, with associate Justin Tzeng. Advice was also provided on intellectual property matters by partner Michelle Gross and San Diego partner Jen Barry, and on tax matters by partner Ashley Wagner. This deal follows Latham’s representation of Perplexity in its Series A financing and in its acquisition of Spellwise in 2023.