AI Assistant Startup Instinct Raises $350M at $2.5B Valuation

Instinct, an AI assistant startup founded last year, has raised $250 million in a new funding round, valuing the company at $2.5 billion.

The Series B round, first reported by The Wall Street Journal, brings Instinct’s total funding to $350 million. The round was co-led by Index Ventures and Benchmark.

The company is operated by Spear Street Technology and led by 23-year-old founder Noah Shinn. Instinct is developing an AI assistant designed to help users manage everyday tasks by connecting with their apps and devices through text messages and phone calls.

Instinct Builds a Personal AI Assistant

Instinct says its assistant can help users organise different parts of their lives by handling tasks through connected services. Early users have reported using the tool for activities such as planning trips, purchasing items, managing subscriptions and organising personal events.

Shinn said early users have explored a range of uses for the assistant, including planning road trips, buying groceries and concert tickets, and cancelling subscriptions.

The startup is currently available through a private beta program. Despite early interest, Instinct has also faced privacy questions due to the app’s required permissions and concerns raised by some users about its terms of service.

Growing Interest in Consumer AI Assistants

Instinct’s rapid valuation increase reflects growing investor interest in AI assistants designed to complete tasks rather than only answer questions.

The company is part of a broader group of startups building AI agents that connect with personal information, applications and digital services to perform actions on behalf of users.

As these assistants gain access to more user data and connected services, companies developing them face increasing scrutiny over privacy, security, and how user information is handled.