Artificial Intelligence
Perplexity
San Francisco, CAFounded 2022700+ employeesperplexity.ai
An answer engine reshaping how people search and cite the web.
Perplexity in the news.
Nvidia reportedly in talks to back Perplexity round above $30B valuation
Nvidia is reportedly discussing an investment that would value Perplexity above $30B, a 50%+ jump from its ~$20-23B mark.
Perplexity closes Series E-6 at approximately $23 billion valuation
The round followed a $200M raise at $20B just months earlier, continuing Perplexity's rapid valuation climb toward a possible IPO.
Perplexity revenue jumps 50% in one month to $450M ARR
Perplexity's revenue accelerated to roughly $450M annualized, up from $148M in June 2025, on ~50% month-over-month growth.
Position
PWRL Position
Fair Value
$8.00M1
Allocation
1.14%2
Cost of Investment
$8.24M3
Gross MOIC
0.97×4
ARR
$450M5
MAU
45M6
Monthly Queries
780M+6
- Unaudited fair value of such investments as of June 30, 2026, in accordance with the Fund's valuation policies and procedures.
- Allocation is calculated based on the Portfolio Company's fair value as a percentage of the Fund's net assets as of June 30, 2026.
- Cost basis includes investment cost and transaction expenses and excludes fund-level management fees and operating expenses.
- Gross MOIC is calculated as the fair value of the Fund’s position divided by its cost basis as of June 30, 2026 (unaudited). Gross MOIC is a single-position, gross-of-fees measure and is not comparable to the Fund’s net NAV/share return, which reflects all fund-level fees and expenses, realized positions, and cash. Past performance does not guarantee future results.
- Perplexity, 'Revenue Jumps 50% in One Month to $450M ARR,' Apr. 8, 2026.
- Yahoo Finance Canada, 'Perplexity ARR Tops $450M After Pricing Shift,' Apr. 8, 2026.
Why it sits in PWRL.
Perplexity uses AI to give you instant, sourced answers to almost anything you ask. If AI replaces the old way of searching, Perplexity wants to be the new front page of the internet.
- Company operating data is sourced from internal investment memoranda and may include estimates and forward-looking information.