AI Assistant Startup Wabi Raises $55M at $1.25B Valuation
Wabi secured a $55M round led by IVP at a $1.25B valuation, accelerating its shift from an app builder to a group-chat AI agent.
US-based AI startup Wabi announced it has raised $55 million at a $1.25 billion valuation. The round was led by venture firm IVP, with participation from Andreessen Horowitz (a16z), Forerunner, and Amazon Alexa Fund.
Founded by Eugenia Kuyda, who previously created the AI companion Replika, Wabi initially focused on allowing users to build apps via prompts. In September 2026, the company pivoted to a "personal agent" model with the launch of Wabi 2.0. This version integrates into group chats and builds small application interfaces on demand—such as fitness trackers, schedules, or restaurant recommendations—and can take actions like booking appointments.
The funding comes amid intensifying competition in the AI agent sector. Recently, Instinct raised $1 billion at a $10 billion valuation in September, while Tolan secured $30 million in October. Investors see potential in agents that combine conversation with dynamic software generation.