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- Exa
Exa Revenue, Valuation, Funding & Investors
Exa is valued at $2.2B as of May 2026.
Last Exa valuation
$2.2B
Series C · May 2026
Last Exa funding round
$250M
Series C · May 2026
Exa revenue
$10M
Series B · Sep 2025
Key investors in Exa
Y Combinator
Lightspeed Venture Partners
Andreessen Horowitz
Benchmark
NVIDIA
NVentures
About Exa
Exa is a Tel Aviv-based AI search engine offering APIs for semantic search, content retrieval, web crawling, in-depth research, and bulk querying via its Websets product. The platform uses neural networks and embeddings for handling complex queries, returning full-page results with customizable filters for developers and automated systems.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Revenue
$10M (Sep 2025)
Valuation
$2.2B (May 2026)
Exa Valuation
Exa is currently valued at $2.2B, based on its Series C in May 2026.
The $250M round was led by Andreessen Horowitz, with participation from QuantumLight.
Exa's valuation has grown 3.1x from $700M at its Series B in September 2025 to $2.2B in May 2026, across 2 priced rounds.
Exa valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2026 | Series C | $2.2B | - |
| Sep 2025 | Series B | $700M | 70.0x |
Exa Revenue
Exa's latest recorded revenue is $10M, as of its Series B in September 2025. At a $700M valuation, that implies a 70.0x revenue multiple.
Exa revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2025 | $10M | $700M | 70.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Exa Funding History
Exa has raised a total of $357M across 4 funding rounds.
Exa's first fundraising round was a $5M seed round in January 2022. The most recent completed round was a $250M Series C in May 2026.
Exa funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Series C | Andreessen Horowitz (lead); QuantumLight | $250M | $2.2B | Exa raised $250 million in Series C funding at a $2.2 billion valuation, with Andreessen Horowitz leading the round in May 2026. The financing is intended to support Exa’s work on search and retrieval models, expand infrastructure capacity to handle hundreds of thousands of searches per second, and scale its global go-to-market operations. Exa is a San Francisco-based search engine company that describes itself as a search lab organizing the web’s data for agents. The company’s business focus is on building next-generation search infrastructure for AI and agentic applications, and the new capital is being used to accelerate product development and operational scale. No revenue, EBITDA, employee count, or transaction structure details beyond the Series C round and lead investor were disclosed in the provided results. |
| Sep 2025 | Series B | Benchmark (lead); NVIDIA; Y Combinator; Lightspeed Venture Partners | $85M | $700M | Exa, founded in 2021 and formerly known as Metaphor, develops a search engine optimized for AI applications, offering products like a search API and Websets for high-compute queries. It emphasizes high-quality, customizable search without ad incentives, featuring Zero Data Retention for enterprises, and serves AI startups, private equity, and consulting firms. The company aims to organize all information for perfect AI search, surpassing human-oriented engines like Google. Exa raised an $85 million Series B round in September 2025, led by Benchmark with participation from Lightspeed Venture Partners, Y Combinator, and NVentures (NVIDIA's VC arm), at a $700 million post-money valuation. This follows a $22 million Series A in July 2024 led by Lightspeed and early Y Combinator backing, bringing total funding to approximately $107 million. Peter Fenton from Benchmark joined the board. Proceeds will fund scaling indexing and processing to cover more global information, acquiring a 5x larger GPU cluster for faster research, expanding non-English content and regional data centers in EMEA and APAC, and growing the team in engineering, GTM, and operations. Investments support SOC-2 compliance for sovereign AI search solutions amid evolving regulations. Partnerships with NVIDIA align with GPU-intensive needs. Exa positions itself for stage two growth toward comprehensive information organization, hiring aggressively to build critical AI infrastructure. |
| Jul 2024 | Series A | Lightspeed Venture Partners (lead); Y Combinator; Mei Z.; NVentures | $17M | - | Exa is a San Francisco-based AI startup from Y Combinator's summer 2021 cohort that builds a search engine and API optimized for AI models, enabling web search, crawling, and data access for applications like chatbots, training data curation, and research. Customers include Databricks for model training, AWS, Vercel, Cursor, and thousands of developers across free and paid tiers. The company launched its API about a year before the round and reported growing revenue without disclosing figures. On July 16, 2024, Exa raised a $17 million Series A led by Lightspeed Venture Partners' Guru Chahal, with participation from Nvidia's NVentures and Y Combinator, bringing total funding to $22 million including a prior $5 million seed. |
| Jan 2022 | Seed | - | $5M | - | - |
Who has invested in Exa?
8 investors have backed Exa across its funding rounds, including Y Combinator, Lightspeed Venture Partners, Andreessen Horowitz, Benchmark, NVIDIA and NVentures.
Lead investors include Andreessen Horowitz, Benchmark and Lightspeed Venture Partners.
Exa Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Jul 2024 | ||
| 2 | Lead | Jul 2024 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Jul 2024 | ||
| 1 | Participant | Jul 2024 | ||
| 1 | Lead | Sep 2025 | ||
This data is available for Pro users. Sign up to see all 8 Exa investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialExa Competitors
Exa competitors include listed companies like C3.ai, Affle 3i and Haizhi, and private ones like LMArena, Turing and Liquid AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $250M | ($484M) | $1.7B | 4.5x | ||
| Private | $30M | - | $1.7B | 56.7x | ||
| Private | $300M | - | $2.2B | 7.3x | ||
| Publicly listed | $282M | $67M | $2.3B | 6.7x | ||
| Publicly listed | $93M | ($30M) | $2.1B | 16.3x | ||
| Private | - | - | $2.4B | - |
Exa Public Comps
Exa is still privately-owned, but its public comps include Ncino, Affle 3i, Haizhi, Justsystems, C3.ai, Wenge AI, Progress Software, TRS Information Technology, PCITECH and Fractal Analytics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
| $93M | ($30M) | 21.5x | 16.3x | (67.1x) | (440.4x) | |||
| $331M | $156M | 3.1x | 3.2x | 6.7x | - | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $60M | ($20M) | 27.6x | - | (82.7x) | - | |||
| $978M | $302M | 3.0x | 2.9x | 9.6x | 7.3x | |||
| $76M | ($20M) | 19.3x | 19.7x | (73.5x) | 478.8x | |||
This data is available for Pro users. Sign up to see all Exa competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Exa
| When was Exa founded? | Exa was founded in 2021. |
| Where is Exa headquartered? | Exa is headquartered in San Francisco, CA, United States. |
| Is Exa publicly listed? | No, Exa is a private, VC-backed company. |
| What is Exa's valuation? | Exa was last valued at $2.2B in its Series C in May 2026. |
| How much funding has Exa raised? | Exa has raised $357M across 4 funding rounds. |
| What was Exa's last funding round? | Exa's last funding round was a $250M Series C in May 2026, led by Andreessen Horowitz. |
| Who are Exa's investors? | Exa's investors include Y Combinator, Lightspeed Venture Partners, NVIDIA, Mei Z., NVentures, Benchmark, Andreessen Horowitz and QuantumLight. |
| What is Exa's revenue? | Exa's latest recorded revenue is $10M (September 2025). |
| What is Exa's revenue multiple? | Exa's latest valuation implies a 70.0x revenue multiple ($700M valuation on $10M of revenue). |
| Which companies are comparable to Exa? | Companies comparable to Exa include C3.ai, LMArena, Turing, Affle 3i, Haizhi and Liquid AI. |
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