Wabi, the shared AI assistant from Replika's founder, raises $55 million at a $1.25 billion valuation

Wabi, the consumer AI startup led by Replika founder Eugenia Kuyda, said on October 29 that it has raised $55 million at a valuation of $1.25 billion. The round was led by IVP, according to a release issued from San Francisco, with participation from Andreessen Horowitz, Forerunner and the Amazon Alexa Fund.

Who is backing it

The company also lists a group of individual investors: Tobi Lütke, Marc Benioff, Marissa Mayer, Dick Costolo and Alex Pall. Andreessen Horowitz says it has supported Wabi since its pre-seed round, which TechCrunch previously reported at $20 million when the product first launched last year. The release does not name a stage for the new round and says only that the money will go toward product development and expansion.

Wabi describes the raise as a response to strong interest after its public launch, but it does not publish user numbers, downloads or revenue. The claims of early demand therefore rest on the company's own account and a handful of usage anecdotes.

A personal assistant built for groups

Wabi began as a platform for creating and sharing mini-apps and has since repositioned itself as a personal AI assistant. TechCrunch reported that the app opened to all users on October 19. It works like a messaging app: users run separate threads for different goals, and each thread can contain custom apps the agent builds, such as a weight-loss tracker or a tool to find local events for children. Connecting an email account generates starter threads automatically.

The distinguishing feature is sharing. Threads can be turned into group chats, so friends, couples or families can plan trips, split household tasks or build shared trackers together. According to TechCrunch, access to personal information is limited to each chat, and members can see when someone's data is requested. Kuyda told the publication she believes nobody has yet solved multiplayer AI assistants.

Open questions

Wabi is available on iOS, Android and Mac, with Windows listed as coming soon. The app is free, and TechCrunch reported that the company has not settled on a business model. It says it is SOC 2 compliant, runs in the cloud and stores most user data in the United States. A billion-dollar valuation only weeks after a broad launch leaves the company to show that group use, and a way to earn money from it, can follow.