Genspark, a startup with a suite of artificial intelligence automation tools for knowledge workers, today announced that it has raised $275 million in funding.
The Series C round gives the company a post-money valuation of $1.25 billion. It was led by early Salesforce Inc. backer Emergence Capital Partners with participation from SBI Investment, LG Electronics Inc.’s startup fund, Pavilion Capital and Uphonest Capital. Genspark says that all its existing backers chipped in as well.
Genspark, officially Mainfunc Inc., launched last year with an AI search engine similar to Perplexity. The service responded to user queries by generating an explanatory webpage called a Sparkpage. It also included an interface section for visualizing data in earnings reports.
Genspark’s service reportedly gained 2 million users in a few months. Nevertheless, the company decided to pivot away from the search market earlier this year. It shifted its focus to developing its productivity suite, which launched today in conjunction with the funding announcement.
The Genspark AI Workspace, as the suite is called, includes more than a half-dozen AI tools. There’s a word processor and a spreadsheet editor that takes natural language prompts as input. A business analyst at a retailer could instruct it to generate a spreadsheet that lists all the products sold by a competitor, their prices and availability.
Another set of tools included in suite automates design tasks. Customers can use the Genspark AI Workspace to generate ad visuals, videos and other content. Developers, meanwhile, have access to a coding tool that lend itself to creating simple applications.
Customers can mix and match Genspark’s AI features to automate multi-step tasks. A procurement executive, for example, could have the platform condense three contract bids into a comparison chart and suggest ways of securing a more favorable price from the top bidder.
“Our platform enables knowledge workers to focus on strategy and decisions while autonomous agents handle execution,” said Genspark co-founder and Chief Executive Officer Eric Jing. “You state your intent, we deliver the finished work.”
Genspark’s automation features are powered by more than 30 AI models. One of them is Nano Banana Pro, a new image generation model that Google LLC launched today. The platform also uses models from OpenAI Group PBC and Anthropic PBC along with over 150 automation tools that Genspark developed in-house.
The company rolled out the Genspark AI Workplace to a group of early adopters ahead of today’s launch. It says that the platform is already generating more than $500 million in annualized recurring revenue.
Image: Unsplash
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