On January 4, 2024, Perplexity AI, Inc. closed the transaction. The company amended the terms of the transaction and now raised $74,000,000 in the transaction led by returning investor Institutional Venture Partners. The transaction included participation from new investors Kindred Ventures LLC, Factorial Funds LLC, NVIDIA Corporation, Bezos Expeditions, LLC, Bessemer Venture Partners, returning investors Institutional New Enterprise Associates, Inc., Databricks Ventures, individual investors Elad Gil, Tobi Lutke, Nat Friedman, Guillermo Rauch, Nvidia, Jeff Bezos invested through Bezos Expeditions, Naval Ravikant, Balaji Srinivasan, Guillermo Rauch and Austen Allred.

The company disclosed the post money valuation of $540,000,000 in the transaction. Cack Wilhelm of Institutional Venture Partners join the company's board of director. The company has raised more than $100,000,000 of funding till date.