Adept AI Valuation, Funding & Investors

Adept AI is valued at $1B as of March 2023.

Last Adept AI valuation

$1B

Series B · Mar 2023

Last Adept AI funding round

$350M

Series B · Mar 2023

Cumulative funding Adept AI raised

$415M

across 2 funding rounds

Key investors in Adept AI

  • General Catalyst
  • Spark Capital
  • Greylock
  • Scott Belsky
  • Addition
  • Root Ventures

Adept AI Overview

About Adept AI

Adept AI is a San Francisco-headquartered AI research lab developing models that automate software tasks using natural language instructions. Its ACT-1 platform enables developers to build applications through browser-based actions, competing with robotic process automation via foundation models trained on code and interfaces.


Founded

2022

HQ

United StatesSan Francisco, CA

Website

adept.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (Mar 2023)

Adept AI Valuation

Adept AI is currently valued at $1B, based on its Series B in March 2023.

The $350M round was led by General Catalyst and Spark Capital.

Adept AI valuation by funding round

Adept AI valuation by funding round
DateStageValuation
Mar 2023Series B$1B

Adept AI Funding History

Adept AI has raised a total of $415M across 2 funding rounds.

Adept AI's first fundraising round was a $65M Series A in April 2022. The most recent completed round was a $350M Series B in March 2023.

Adept AI funding rounds

Adept AI funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2023Series BGeneral Catalyst (lead); Spark Capital (lead)$350M$1BAdept AI, founded by former OpenAI and Google researchers including CEO David Luan, Ashish Vaswani, and Niki Parmar, develops agentic AI solutions that enable knowledge workers to execute complex software workflows using natural language commands. Unlike text or image generators like OpenAI, Adept's platform, featuring models like ACT-1, translates user intents into actions across websites, applications, and enterprise tools, automating tasks such as browsing, data entry, and multi-tool coordination. On March 14, 2023, Adept announced a $350 million Series B round led by General Catalyst and co-led by Spark Capital, with participation from Addition, Greylock, Atlassian Ventures, Microsoft, NVIDIA, Workday Ventures, Caterina Fake, Frontiers Capital, PSP Growth, SV Angel, A.Capital, and others. This brought total funding to $415 million following a $65 million Series A in 2022, cementing unicorn status at a $1 billion post-money valuation. The round validated Adept's human-centered approach to general intelligence, positioning it to build AI teammates for productivity enhancement. Proceeds fund productization, model training, and headcount growth to advance multimodal foundation models for software actions. Strategic investors like Microsoft, NVIDIA, Atlassian, and Workday see potential integration with their software ecosystems. Adept's capabilities lower barriers for enterprise workflows, promising inclusive prosperity amid surging AI investment, with global AI spending projected at $154 billion in 2023.
Apr 2022Series AAddition (lead); Greylock (lead); Root Ventures; Howie Liu; Sarah Meyohas; Andrej Karpathy; Chris Re; Scott Belsky; Joe Morrissey$65M-Adept AI, founded in 2022 and headquartered in San Francisco, develops AI models that enable humans and computers to collaborate creatively, focusing on action-oriented foundation models like ACT-1 that perform tasks on software tools using natural language instructions. The company targets enterprise applications, attracting interest from software giants like Microsoft, Nvidia, Atlassian, and Workday for potential integrations. In April 2022, Adept raised $65 million in a Series A round led by Addition and Greylock, with participation from investors including Andrej Karpathy, Chris Re, Howie Liu, Joe Morrissey, Root Ventures, Sarah Meyohas, and Scott Belsky, to scale model training infrastructure and expand enterprise capabilities. This Series A followed earlier seed and early rounds totaling another $65 million from 2017-2021 for foundational AI development and prototypes, bringing total funding to $130 million pre-Series B. The round positioned Adept to build toward natural language interfaces for productivity, allowing non-experts to perform complex tasks. Adept planned to use Series A proceeds for productization, model training, and headcount growth amid surging AI interest. By Series B, the company had 60-120 employees serving multiple verticals like sales.

Who has invested in Adept AI?

11 investors have backed Adept AI across its funding rounds, including General Catalyst, Spark Capital, Greylock, Scott Belsky, Addition and Root Ventures.

Lead investors include General Catalyst, Spark Capital, Addition and Greylock.


Adept AI Investors

Investors in Adept AI by funding rounds participated
InvestorHQRoundsRoleFirst check
General CatalystUnited StatesSan Francisco, CA1LeadMar 2023
Spark CapitalUnited StatesSan Francisco, CA1LeadMar 2023
AdditionUnited StatesUnited States1LeadApr 2022
Root VenturesUnited StatesUnited States1ParticipantApr 2022
Howie LiuUnited StatesSan Francisco, CA1ParticipantApr 2022
Sarah Meyohas--1ParticipantApr 2022
Andrej KarpathyUnited StatesSan Francisco, CA1ParticipantApr 2022
GreylockUnited StatesSan Francisco, CA1LeadApr 2022
Chris ReUnited StatesSan Francisco, CA1ParticipantApr 2022

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Adept AI Competitors

Adept AI competitors include listed companies like Kodiak AI and Arcs Co, and private ones like Resolve.ai, Mech-Mind Robotics, Exodigo and Apprentice.io.

Public and private companies comparable to Adept AI
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Resolve.aiUnited StatesSan Francisco, CAPrivate$4M-$1B250.0x
Mech-Mind RoboticsChinaBeijingPrivate--$858M-
Kodiak AIUnited StatesUnited StatesPublicly listed$4M($577M)$768M98.7x
Arcs CoJapanJapanPublicly listed$4B$185M$1.3B0.2x
ExodigoIsraelTel AvivPrivate$25M-$700M28.0x
Apprentice.ioUnited StatesJersey City, NJPrivate--$622M-

Adept AI Public Comps

Adept AI is still privately-owned, but its public comps include SEER Robotics, Appier Group, Rackspace, Intelbras, Rezolve AI, Afcon Holdings, Red Cat Holdings, Beijing CTJ Info Tech, Plejd and Mesnac.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SEER Robotics$66M($6M)13.2x-(156.2x)-
Appier Group$281M$44M3.4x2.9x21.6x15.7x
Rackspace$2.7B$244M1.5x1.6x17.1x15.0x
Intelbras$867M$131M1.0x1.0x6.5x7.1x
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)
Afcon Holdings$555M$57M2.2x-21.5x-
Red Cat Holdings$41M($72M)19.0x6.6x(10.7x)(8.8x)
Beijing CTJ Info Tech$123M$13M5.3x4.9x51.3x34.6x

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Common questions about Adept AI

When was Adept AI founded?Adept AI was founded in 2022.
Where is Adept AI headquartered?Adept AI is headquartered in San Francisco, CA, United States.
Is Adept AI publicly listed?No, Adept AI is a private, VC-backed company.
What is Adept AI's valuation?Adept AI was last valued at $1B in its Series B in March 2023.
How much funding has Adept AI raised?Adept AI has raised $415M across 2 funding rounds.
What was Adept AI's last funding round?Adept AI's last funding round was a $350M Series B in March 2023, led by General Catalyst and Spark Capital.
Who are Adept AI's investors?Adept AI's investors include General Catalyst, Spark Capital, Addition, Root Ventures, Howie Liu, Sarah Meyohas, Andrej Karpathy, Greylock, Chris Re, Scott Belsky and 1 other.
Which companies are comparable to Adept AI?Companies comparable to Adept AI include Resolve.ai, Mech-Mind Robotics, Kodiak AI, Arcs Co, Exodigo and Apprentice.io.

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