AI-powered presentation platform Gamma has raised $68 million in new funding led by Andreessen Horowitz, valuing the five-year-old startup at $2.1 billion.
Founded in 2020 by former investment banker Grant Lee and two partners, Gamma enables users to turn simple text into polished presentations, websites, and social media content through generative AI.
The platform, which boasts 70 million users, including 600,000 paying subscribers, generates about $100 million in annual revenue and has been profitable since 2023. Remarkably, Gamma operates with just 52 employees, making it a lean but highly efficient AI business.
Andreessen Horowitz partner Sarah Wang, a longtime user of the product, said the firm pursued Gamma after being impressed by its ability to "build what I was thinking but even better."
Gamma has yet to spend any of the $12 million from its previous funding round, with Lee noting that the company was designed to be "self-sustaining and not dependent on outside capital." The new funding will support enterprise expansion, the hiring of AI engineers, and international growth.
As Gamma strengthens its corporate offerings, it aims to challenge industry giants Microsoft PowerPoint and Google Slides, which together command about 1.5 billion users. Lee added that Gamma may also pursue acquisitions of smaller AI startups struggling to find market fit.
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