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- [00:01]
A
So last year we ended the podcast with a list of top companies who had raised at least $100 million in funding. And we're going to do that again this year because the list has changed. There's new growth and developments in AI and we kind of want to keep you guys updated as to who the winners are right now and where the AI industry is going. So we're going to cover some of those today and we hope that you take away a lot from them. Before we get into that. Jayden, why don't you tell them about our school community?
- [00:28]
B
Yeah. Every single week, Jamie and I record a bonus piece of content we post over on our school community. It's exclusive over there. It's 19amonth and you get access to over 60 videos on the school community about basically every way to use AI to grow and scale your business. Our goal is that it will give you an unfair advantage in mastering AI tools and growing your side hustles and businesses with AI. So we have a discount of Christmas discount where it's $19 a month. Usually it is much more expensive, so it's discounted. If you lock in that price, it won't ever be raised on you. And we have a whole bunch of different side hustles businesses. What we personally are doing to grow and scale our businesses with AI, we share the stuff we don't share publicly, like the exact figures, how much money we make on different things, how much different things cost. It's all, we break it all down there on what we're doing. So if you want to go check it out, it is linked in the description grow and scale your business and career with AI tools on the AI hustle school community. All right, let's talk about the top US AI startups that have raised a hundred million dollars or more. 20, 25. One thing that was impressive to me here is that we have officially we're, you know, we're in the last, we're in the final stretch of, of the year and we have already matched 2024 in terms of how many companies have raised $100 million or more. But there's also more companies that have raised multiple funding rounds that are larger than $100 million this year compared to last. So the whole industry as a whole is progressing and growing and maturing, which is an interesting trend to watch happen. So we're going to start you off with the, maybe we'll start you off with the oldest companies so in January of this year. And then we'll, we'll work our way up to, to closer to this year. So in January this year, 11 labs raised a $180 million Series C round. So that puts them squarely over the hundred million dollars and that had their valuation over $3 billion. Now this is back in January. We're about to be in January again. So you can imagine eleven Labs has made a lot of progress. Their future rounds are much bigger. And they announced that back on January they had this led by iconic Andresen Horowitz, Sequoia nea, Salesforce Ventures, and they had a bunch of other people that were in this. Jamie. I mean, this is probably the least surprising company on this list, but what's your take on 11 labs? With a hundred.
- [02:58]
A
Yeah, I mean, I'm actually surprised that it's not more money, that their valuation is not higher, because I feel like we've been talking about 11 labs for almost two years now on the, on the podcast. I mean, they're, they're one of the main tools we use for, you know, we talk about, in the school community about just different ways to start podcasts, make content using AI. 11 labs is huge. So, yeah, that one to me is. Is not. It's actually a shock. And the other way I feel like it should be, they should be raising more money. And maybe they do later in the year, we'll. We'll get back into that. But the next on the list for January is Hippocratic AI. They are a AI healthcare company, which I think is a really fascinating industry. I think it's gonna continue to grow as well. They raised $141 million in their Series B round on January 9th. So this valued the company at more than $1.6 billion. So again, we have Andreas and Horowitz, Nvidia, General Catalyst, Kleiner Perkins, lots of VC firms there. But yeah, Jaden, Hippocratic AI, this is one of the larger players as well, wouldn't you agree? What have you heard about Hippocratic?
- [04:04]
B
Yeah, I mean, I think anytime that you're in these kind of like, regulated industries like healthcare and finance, and you. There is a lot of money to go around and they need a lot of very specific tools to make sure that everything is HIPAA compliant and, and there's like a lot of specific regulations with a lot of this stuff. And so it's. It's harder for just everyday companies to break into this. It feels like Hippocratic AI has done a phenomenal job. And yeah, no shock here that they've been able to raise this much money. Specifically, they. They call themselves the safety, the safest healthcare generative AI agents. So they're agents that help you with everything happening inside of a hospital. Everything that a doctor would need to chat with. Yes, you could chat with, chat GPT, but it's not, you know, but there's like, it's not HIPAA compliant and you can't share your clients personalized information with it. Like there's all these different, you know, issues that will stop it. And so by using something like Hippocratic AI, you avoid all of those problems. And they basically built a tool that is safe to use.
- [05:08]
A
And.
- [05:08]
B
Yeah. What? Yeah, so anyways, this is, this is fantastic for them that they've been able to raise this Series B. Spoiler alert. They also just raised a Series C. So they're double dipping. When they raised their Series B, it was $141 million at a $1.6 billion valuation. They just raised 126 million. So less money at a 3.5 valuation at a higher valuation. So I mean, it's not like they were able to raise an insane amount more. But I mean, come on, this is a crazy amount of money that Hippocratic AI has been able to raise just this year alone. That puts them at, you know, almost $300 million this year alone that they've been able to raise. So well done to Hippocratic AI. All right, the next month of the year that we had that kicked off to an absolutely crazy start was February. In February together AI raised a lot of money. I don't know if you saw anything about that, Jamie.
- [06:06]
A
Yeah, so they raised $305 million in their series B round. That values the company at $3.3 billion. So they are an open source generative AI model and AI model development infrastructure. So what's interesting to me about this one is that that is, you know, a huge amount of money. Obviously I have not heard of them up to this point, but I use them. You do? Tell me about it.
- [06:31]
B
Okay, so I love together, I actually use them to help power AI box AI, my own startup. What they have that's really cool is they have a whole bunch of open source models. They will put the open source models on their own GPUs, on their own hardware and run them and they just have an API that gives me access to them. So a bunch of open source AIs that like typically you would have to either put on your own hardware and run it yourself. I don't want to have to put, I don't want to have to worry about the hardware side of things right now. So I want access to these open source models but I want someone else to host them. So I basically get an API to their open source models, I pay them for the usage, they host them, they run them and I just have to pay a usage fee. So yeah, overall I think Taylor AI is awesome. I mean $3.3 billion, this is a no brainer. They like, like I'm using them as a major part of the infrastructure for my company and you know, AI Box is, is doing great. I imagine there's millions of other AI companies that are probably using them and, or probably hundreds of thousands at least. They're great, they're a great partner. We've never had them have downtime or any sort of issue like that. So yeah, Together AI is fantastic. This was led by General Catalyst, Salesforce Ventures, Nvidia, Lex Capital, a whole bunch of these people. I mean you see Nvidia jump in because obviously together AI is running open source models so they need the actual compute. Anytime a company needs compute, Nvidia is going to give them money because they know they're just going to turn back and buy Nvidia chips with them. So overall, yeah, really excited about Together AI, what they've done. I think it's a fantastic company.
- [08:04]
A
So you think Together AI would be used a lot of by developers who are building apps that use AI, is that.
- [08:11]
B
Yeah, yeah, gotcha. So it plugs into a lot of software. In any case, these are some of the most interesting $100 million companies. We're going to do more of these episodes in the future. Um, like our goal is basically to help everyone be familiar with all of the top AI companies. So if they've raised over a hundred million dollars, we'll do a, we'll do a wrap up show here at the end of the year, maybe the beginning of January, covering them all. Thanks so much for tuning into the show today. If this was interesting, if you learned about a new company, what they do, make sure to leave us a rating review on the show and also go check out the AI Hustle school community if you want to grow and scale your business or career using AI tools. Thanks so much for tuning in and we'll see you in the next episode.