US-based Gamma has raised $68 million in a Series B round led by Andreessen Horowitz for its platform that allows users to create presentations and social media content using artificial intelligence. The round also included Accel, Uncork Capital, South Park Commons and Hustle Fund. The investment values Gamma at $2.1 billion.
Gamma is positioned as an alternative to traditional tools like Microsoft PowerPoint. Users can create presentations, web pages and social media content by entering text-based commands on the platform. They can rewrite text, update color palettes and visual styles without any design skills.
Gamma founder and CEO Grant Lee said the company generates nearly $100 million in annual recurring revenue (ARR) and has already reached 70 million users.
The company was founded in 2020 and is expected to launch its first product in 2022. While Gamma's team is currently relatively small, it has achieved a valuation of $2.1 billion through investments and product strategy.
With the new investment, Gamma plans to accelerate product development and expand its team.
