📝 Gamma raises $68M

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Gamma, the AI startup aiming to replace PowerPoint, has raised $68 million in Series B funding at a $2.1 billion valuation, led by Andreessen Horowitz with participation from Accel and Uncork Capital. Founded in 2020 and launched in 2022, Gamma has quietly become one of AI’s most profitable breakout companies, generating $100 million in annual recurring revenue with 70 million users and just 50 employees. CEO Grant Lee says the company hit $50 million ARR profitably within its first two years and continues to scale efficiently thanks to a cautious fundraising strategy that has totalled only $90 million to date. The round also includes a $20 million secondary offering to provide liquidity to early employees. Gamma’s AI-driven platform—which automatically generates presentations, websites, and social media posts—is seen by investors as a productivity game-changer and a viable alternative to Microsoft’s PowerPoint in an increasingly AI-powered workplace.

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