Artificial Intelligence: AI-Generated Content Platform Jasper Raises $125M Series A

The round valued Jasper at $1.5 billion.

Jasper, the platform for AI-generated content, announced its $125 million Series A round led by global software investor Insight Partners and joined by other leading firms including Coatue, Bessemer Venture Partners, IVP, Foundation Capital, Founders Circle Capital, HubSpot Ventures and more. The round valued the firm at $1.5 billion.

Jasper launched only in January 2021, and now supports more than 70,000 paying subscribers. Its platform enables individuals and teams to leverage AI to scale their content strategies. Anyone from individual freelancers to creators at enterprise companies can break through writer’s block, repackage what they’ve written, create original images, and adapt their content to different formats and languages. (Yahoo Finance)

The startup will use the funding to further develop its product, make it accessible across the various platforms that creative people use, and improve the overall customer experience.

Jasper has recently introduced its Jasper Art product, which is a tool for text-to-image generation. It has also released a new browser extension for Chrome that provides contextual recommendations for original content across a range of websites or content platforms used by content creators.

“AI’s move into the mainstream is one of the most thrilling trends in technology in decades and represents a fundamental architecture shift in computing,” said Thomas Laffont, Co-Founder of Coatue.

“Generative AI represents a major breakthrough in creative potential, but it’s still inaccessible and intimidating to many,” says Chief Executive Officer Dave Rogenmoser. “Jasper is working to bring AI to the masses and teach people how to leverage it responsibly so that businesses and individuals can better convey their ideas.”

According to Tech Crunch, Jasper is in the process of acquiring AI startup Outwrite, a grammar and style checker with more than a million users worldwide.

Related Story: OpenAI’s DALL-E 2 Program Draws (And Edits) Images From Text Commands

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