Perplexity

Perplexity is a US AI search and answer engine company that appeared in the UK startup briefing as a speed comparator for Granola, the AI meeting notes company. Granola reached a $1.5bn valuation in three years, a trajectory compared favourably to Perplexitys own growth speed, highlighting the pace at which AI-native software companies can scale to significant valuations.

Founded in 2022 and headquartered in San Francisco, Perplexity raised over $500m by early 2025, reaching a valuation of approximately $9bn. The company operates as an AI-powered search engine that synthesises answers from multiple sources with citations, positioning itself as an alternative to Google Search for research and question-answering tasks. It has faced criticism over the accuracy of its citations and concerns from publishers about reproducing content without adequate compensation.

For the UK startup ecosystem, Perplexity serves as a benchmark for the speed of AI startup value creation. The ability to reach billion-dollar valuations in two to three years is reshaping investor expectations globally, and UK companies like Granola are being measured against the fastest-growing US AI cohort rather than historical UK startup norms.