Jasper Raises $125 Million in Series A Funding; Becomes Unicorn AI Startup

October 20, 2022

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Jasper launched in 2021 and has quickly become one of the leading AI content writing tools. With this new $125 million Series A funding announced on Tuesday, Jasper has a $1.5 billion valuation, vaulting it into unicorn territory.

Jasper has been on a hypergrowth trajectory since it made the advanced AI capabilities of GPT-3 available to the everyday business or individual creator. Now anyone can tap into the power of AI to create better marketing, ad, and blog content.

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Funding Round

This Series A round was led by global software investor Insight Partners and joined by other leading firms including Coatue, Bessemer Venture Partners, IVP, Foundation Capital, Founders Circle Capital, HubSpot Ventures, and more.

According to the PR release, the company will use this funding to “further invest in the product, improve the customer experience, and bring Jasper to all the platforms creators use.”

This funding round follows an initial seed round of an undisclosed amount lead by Quarry and Bossanova Investimentos in April 2021.

Features

Jasper’s main features include 50+ templates to quickly create marketing and ad copy, long-form content, reports, emails, and stories. These features can be accessed through the web app or a Chrome extension which supports works across Google Docs, Gmail, Notion, HubSpot, Shopify, social media platforms, and other content management systems.

The software currently supports over 25+ languages with more coming shortly.

The newest offering is “Jasper Art” which features text-to-image generation so users can enter a description of an image they want to create and Jasper will output it.

Hypergrowth

Jasper has over 70,000 paying subscribers now ranging from large corporations to small agencies and individuals.

Part of this growth has been fueled by the active affiliate marketing team that has been having influencers and bloggers get the word out about the software by offering 30% recurring commissions for the life of each new customer. The affiliate program Facebook group now boasts 4.8K members who have the ability to promote the software to their social and business circles.

Jasper Affiliate Facebook Group — Source: Capitalize My Title

About the Company

The company was launched in January 2021 and founded by Dave Rogenmoser and John Philip Morgan. It was originally called Conversion.ai (later called Jarvis.ai and finally Jasper.ai after a cease-and-desist letter by Disney). In the last two years, the company has grown so fast that it has been recognized as “one of America’s fastest-growing private companies” by Inc. 5000.

Chief Executive Officer Dave Rogenmoser said of the company, “Generative AI represents a major breakthrough in creative potential, but it’s still inaccessible and intimidating to many. Jasper is working to bring AI to the masses and teach people how to leverage it responsibly so that businesses and individuals can better convey their ideas. We’re grateful to our investors for believing in that potential as firmly as we do.”