Index

• GLEAN$7.2B

  84/100 — High wrapper behavior

  Enterprise search

  • Sequoia Capital
  • Kleiner Perkins
  • Lightspeed
• HARVEY$11B

  68/100 — Mostly borrowed stack + thin layer

  Legal AI

  • Sequoia Capital
  • Kleiner Perkins
  • OpenAI Startup Fund
• 11X$50M

  70/100 — Mostly borrowed stack + thin layer

  AI SDR

  • Andreessen Horowitz
  • Benchmark
• ABNORMAL SECURITY$5.1B

  58/100 — Mostly borrowed stack + thin layer

  Email Security

  • Menlo Ventures
  • Insight Partners
  • Greylock
• ABRIDGE$2.75B

  43/100 — Harder to write off as packaging

  Clinical Documentation

  • ICONIQ Capital
  • Lightspeed
  • Spark Capital
• ADA$130M

  64/100 — Mostly borrowed stack + thin layer

  Customer Support

  • Spark Capital
  • Accel
  • Bessemer Venture Partners
• ADAPTIVE SECURITY$145M

  60/100 — Mostly borrowed stack + thin layer

  Security Awareness

  • Andreessen Horowitz
  • OpenAI Startup Fund
  • NVIDIA
• AKASA—

  46/100 — Mixed — some real moat

  Healthcare RCM

  • Andreessen Horowitz
• ALPHASENSE$4B

  67/100 — Mostly borrowed stack + thin layer

  Finance Research

• AMPEROS$16M

  59/100 — Mostly borrowed stack + thin layer

  Healthcare RCM

• ANTERIOR$64M

  51/100 — Mixed — some real moat

  Healthcare AI

  • Sequoia Capital
• AQUANT—

  61/100 — Mostly borrowed stack + thin layer

  Field Service AI

• ARTISAN$25M

  70/100 — Mostly borrowed stack + thin layer

  AI SDR

  • YC S23
• AUCTOR$20M

  61/100 — Mostly borrowed stack + thin layer

  Implementation Ops

  • Sequoia Capital
• AUGMENT—

  75/100 — High wrapper behavior

  Code / Dev

  • Index Ventures
• AUGMENT—

  75/100 — High wrapper behavior

  Code Gen

• AXIAMATIC$54M

  48/100 — Mixed — some real moat

  ERP Transformation

• BOLT$105M

  80/100 — High wrapper behavior

  Code Generation

  • GV (Google Ventures)
• BRIGHTWAVE$15M

  54/100 — Mixed — some real moat

  Finance Research

• BUNKERHILL HEALTH—

  49/100 — Mixed — some real moat

  Healthcare AI

  • Sequoia Capital
• CAPTIONS$60M

  58/100 — Mostly borrowed stack + thin layer

  AI Video Creator

  • Index Ventures
  • Sequoia Capital
  • Kleiner Perkins
• CAUSALY—

  55/100 — Mixed — some real moat

  Biomedical Research AI

  • Index Ventures
• CLAY$5B

  68/100 — Mostly borrowed stack + thin layer

  Sales AI

  • Andreessen Horowitz
  • Sequoia Capital
  • General Catalyst
• CODEIUM$1.25B

  79/100 — High wrapper behavior

  Code Assistant

  • General Catalyst
  • Kleiner Perkins
• COGNITION$2B

  60/100 — Mostly borrowed stack + thin layer

  Autonomous Agents

  • Founders Fund
  • 8VC
  • Khosla Ventures
• COPY.AI$13.9M

  66/100 — Mostly borrowed stack + thin layer

  Go-to-Market AI

  • Sequoia Capital
  • Tiger Global
• CRESCENDO$500M

  64/100 — Mostly borrowed stack + thin layer

  Customer Support AI

  • General Catalyst
• CRESTA$125M

  55/100 — Mixed — some real moat

  Contact Center AI

  • Andreessen Horowitz
  • Sequoia Capital
  • Greylock
• CURSOR$9.9B

  67/100 — Mostly borrowed stack + thin layer

  AI Code Editor

  • Andreessen Horowitz
  • Benchmark
  • Thrive Capital
• DECAGON$4.5B

  60/100 — Mostly borrowed stack + thin layer

  Customer Support AI

  • Andreessen Horowitz
  • Accel
  • Coatue
• DEEPSCRIBE—

  53/100 — Mixed — some real moat

  Healthcare AI

  • Index Ventures
• DESCRIPT$553M

  65/100 — Mostly borrowed stack + thin layer

  AI Video Editor

  • OpenAI Startup Fund
  • Andreessen Horowitz
  • Redpoint
• DIGITS$65M

  68/100 — Mostly borrowed stack + thin layer

  AI Accounting

  • GV (Google Ventures)
  • Benchmark
  • Index Ventures
• DRAFTWISE—

  72/100 — High wrapper behavior

  Legal AI

  • Index Ventures
• DROPZONE AI$17M

  70/100 — Mostly borrowed stack + thin layer

  Security Operations

• DUST$16M

  67/100 — Mostly borrowed stack + thin layer

  Enterprise AI Agents

  • Sequoia Capital
• EIGHTFOLD$2.1B

  63/100 — Mostly borrowed stack + thin layer

  HR AI

  • General Catalyst
  • Lightspeed
• ELEVENLABS$3.3B

  34/100 — Harder to write off as packaging

  Voice AI

  • Andreessen Horowitz
  • Sequoia Capital
  • ICONIQ Capital
• EVE$47M

  63/100 — Mostly borrowed stack + thin layer

  Legal AI

  • Andreessen Horowitz
  • Lightspeed
  • Menlo Ventures
• EVENUP$1B

  55/100 — Mixed — some real moat

  Legal AI

  • Bessemer Venture Partners
  • Lightspeed
• EXA$85M

  74/100 — High wrapper behavior

  Search API for AI

  • Benchmark
  • Lightspeed
  • NVIDIA
• FATHOM$17M

  85/100 — High wrapper behavior

  Meeting Notes

• FIREFLIES$19M

  78/100 — High wrapper behavior

  Meeting Notes

  • Khosla Ventures
• FORETHOUGHT$65M

  61/100 — Mostly borrowed stack + thin layer

  Customer Support AI

  • NEA
• GAMMA$700M

  66/100 — Mostly borrowed stack + thin layer

  AI Creation Tool

  • Accel
• GRANOLA$20M

  78/100 — High wrapper behavior

  Meeting notes

  • Lightspeed
  • Sequoia Capital
• HEBBIA—

  66/100 — Mostly borrowed stack + thin layer

  Enterprise Search

  • Andreessen Horowitz
  • Index Ventures
  • GV (Google Ventures)
• HEYGEN$500M

  57/100 — Mixed — some real moat

  AI Video Generation

  • Benchmark
  • Sequoia Capital
  • Conviction
• HIPPOCRATIC AI$141M

  51/100 — Mixed — some real moat

  Healthcare Voice Agents

  • Kleiner Perkins
  • General Catalyst
  • Andreessen Horowitz
• HUME$50M

  48/100 — Mixed — some real moat

  Voice AI

• JASPER$125M

  68/100 — Mostly borrowed stack + thin layer

  Marketing AI

  • Insight Partners
  • Bessemer Venture Partners
  • Coatue
• KREA$83M

  66/100 — Mostly borrowed stack + thin layer

  AI Image & Video Studio

  • Andreessen Horowitz
• LINDY—

  78/100 — High wrapper behavior

  Personal AI Assistant

  • Andreessen Horowitz
  • Conviction
• LOVABLE$1.8B

  70/100 — Mostly borrowed stack + thin layer

  AI Code Builder

  • YC W24
  • Accel
• MAGIC$515M

  51/100 — Mixed — some real moat

  AI Software Engineer

  • Sequoia Capital
  • GV (Google Ventures)
• MAGICSCHOOL$45M

  71/100 — Mostly borrowed stack + thin layer

  Education AI

  • Lightspeed
  • Bessemer Venture Partners
• MAVEN AGI$50M

  53/100 — Mixed — some real moat

  Customer Support AI

• MERCOR$2B

  56/100 — Mixed — some real moat

  AI Recruiting

  • Benchmark
  • General Catalyst
  • Founders Fund
• MINTLIFY$45M

  62/100 — Mostly borrowed stack + thin layer

  Developer Documentation

  • YC W22
  • Andreessen Horowitz
  • Salesforce Ventures
• MOVEWORKS—

  72/100 — High wrapper behavior

  IT Support Automation

• MUTINY$600M

  62/100 — Mostly borrowed stack + thin layer

  Marketing AI

  • Tiger Global
  • Sequoia Capital
  • Insight Partners
• NOOKS$43M

  61/100 — Mostly borrowed stack + thin layer

  Sales AI

  • Kleiner Perkins
• OBSERVE.AI$125M

  55/100 — Mixed — some real moat

  Contact Center AI

  • Menlo Ventures
• OTTER$50M

  66/100 — Mostly borrowed stack + thin layer

  Meeting notes

  • Tiger Global
• PERPLEXITY$9B

  70/100 — Mostly borrowed stack + thin layer

  Consumer Search

  • Accel
  • IVP
  • NEA
• PILOT$1B

  61/100 — Mostly borrowed stack + thin layer

  Finance AI

  • Sequoia Capital
  • Index Ventures
• POLYAI$50M

  38/100 — Harder to write off as packaging

  Voice AI

  • NVIDIA
  • Khosla Ventures
• PROPHET SECURITY$11M

  57/100 — Mixed — some real moat

  Security Operations

• READ$50M

  74/100 — High wrapper behavior

  Meeting Intelligence

• RECRAFT$30M

  60/100 — Mostly borrowed stack + thin layer

  AI Image Generation

  • Khosla Ventures
• REGAL$40M

  65/100 — Mostly borrowed stack + thin layer

  AI Voice Agents

• REPLIT$1.16B

  64/100 — Mostly borrowed stack + thin layer

  Code Gen IDE

  • Andreessen Horowitz
  • Khosla Ventures
  • Coatue
• RILLA$75M

  79/100 — High wrapper behavior

  Sales AI

  • Andreessen Horowitz
  • Sequoia Capital
• ROGO$75M

  53/100 — Mixed — some real moat

  Finance Research

  • Sequoia Capital
  • Thrive Capital
  • Khosla Ventures
• ROX$50M

  64/100 — Mostly borrowed stack + thin layer

  AI Sales Agent

  • Sequoia Capital
  • General Catalyst
• SANA$55M

  68/100 — Mostly borrowed stack + thin layer

  Enterprise Learning

  • Menlo Ventures
• SEEKOUT$1.2B

  65/100 — Mostly borrowed stack + thin layer

  AI Recruiting

  • Tiger Global
• SIERRA$4.5B

  63/100 — Mostly borrowed stack + thin layer

  Customer Support AI

  • Sequoia Capital
  • Benchmark
  • ICONIQ Capital
• SPEAK$1B

  44/100 — Harder to write off as packaging

  Language Learning

  • Accel
  • OpenAI Startup Fund
  • Khosla Ventures
• SPELLBOOK$20M

  67/100 — Mostly borrowed stack + thin layer

  Legal AI

  • Khosla Ventures
• SYNTHESIA$2.1B

  59/100 — Mostly borrowed stack + thin layer

  Video avatars

  • NEA
  • Accel
  • Kleiner Perkins
• TABNINE$25M

  77/100 — High wrapper behavior

  Code Assistant

  • Khosla Ventures
• TAVILY$5.4M

  79/100 — High wrapper behavior

  AI Research API

• TAVUS$18M

  32/100 — Harder to write off as packaging

  Video Avatars

  • Sequoia Capital
• TESSL$750M

  70/100 — Mostly borrowed stack + thin layer

  Dev Tools

  • Index Ventures
  • Accel
  • GV (Google Ventures)
• TYPEFACE$1B

  62/100 — Mostly borrowed stack + thin layer

  Marketing AI

  • Salesforce Ventures
  • Lightspeed
  • Menlo Ventures
• V0 BY VERCEL$3.25B

  63/100 — Mostly borrowed stack + thin layer

  AI App Builder

  • Accel
  • GV (Google Ventures)
• WRITER$1.9B

  60/100 — Mostly borrowed stack + thin layer

  Enterprise AI Platform

  • ICONIQ Capital
  • Accel
  • Kleiner Perkins
• YOU.COM$50M

  76/100 — High wrapper behavior

  AI Search Infrastructure

  • Salesforce Ventures
  • NVIDIA