Wabi

AI Assistants · Consumer AI · AI Agents

Funding

Wabi raises $55M Series A at $1.25B valuation led by IVP

A product that pivoted from prompt-built apps to a shared AI messenger just ten days earlier now commands unicorn-level backing.

• Wabi raised $55 million at a $1.25 billion valuation in a round led by IVP, with Andreessen Horowitz, Amazon's Alexa Fund and Forerunner Ventures also participating.
• Wabi is run by Eugenia Kuyda, who built the AI companion app Replika to roughly 35-40 million users before stepping down as its CEO in early 2025 to start Wabi.
• Wabi originally let users build apps from text prompts, but pivoted in September to 'Wabi 2.0,' a messenger-style agent that spins up shared mini-apps for things like meal planning, fitness tracking and trip coordination.
• The $55 million round follows a $20 million unpriced pre-seed led by a16z in November 2025, bringing Wabi's total announced funding to $75 million in under a year.
• The raise lands amid a surge in AI agent funding, with rival Instinct recently valued at $10 billion and companion-app competitor Tolan raising $30 million.
• The jump to a $1.25 billion valuation on a free, pre-revenue product shows investors are pricing founder pedigree and early engagement data over monetization in the consumer AI agent race.