News Summary

Gamma, a startup specializing in AI-generated presentations, websites, and social media posts, has announced a $68 million Series B funding round, leading to a valuation of $2.1 billion. The round was led by Andreessen Horowitz, with participation from Accel and Uncork Capital. Co-founder and CEO Grant Lee revealed that the company has reached $100 million in annual recurring revenue (ARR) with a user base of 70 million. Founded in late 2020, Gamma has achieved profitability with $50 million in ARR within its first two years. The latest funding round included a $20 million secondary offering, providing liquidity to early employees. Gamma’s cautious fundraising approach has allowed it to reach a double-unicorn status with about $90 million in total funding and a team of only 50 employees.