Gamma just crashed the unicorn party with a $2.1 billion valuation and $100 million in annual recurring revenue, all while staying profitable. The AI-powered presentation startup raised $68 million in Series B funding led by Andreessen Horowitz, proving that the race to kill PowerPoint is heating up fast.
Gamma just delivered a masterclass in efficient startup scaling. The AI presentation maker announced Monday it closed a $68 million Series B round at a staggering $2.1 billion valuation, led by Andreessen Horowitz, while hitting $100 million in annual recurring revenue - all profitably.
CEO Grant Lee posted on X that the company now serves 70 million users, a massive jump from the $50 million ARR milestone it hit profitably in its first two years. That's the kind of growth that makes Microsoft PowerPoint teams nervous and venture capitalists write big checks.
What makes Gamma's story particularly compelling isn't just the numbers - it's the efficiency. The startup achieved double unicorn status on just $90 million in total funding with only 50 employees. That's lean execution in an industry where competitors burn through hundreds of millions chasing similar metrics.
The company isn't exactly fresh on the scene by AI standards. Founded in late 2020 according to Lee's LinkedIn, Gamma launched its product in 2022 just as generative AI was hitting mainstream consciousness. The timing proved perfect for a platform that creates presentations, websites, and social media posts using AI.
Gamma's cautious fundraising approach paid off handsomely. After raising a modest $12 million Series A led by Accel in 2024, the company skipped the typical venture capital cash burn cycle. Instead, it focused on building a profitable business while competitors raised massive rounds and struggled with unit economics.
The Series B round included participation from existing investors Accel, Uncork Capital, South Park Commons, and Hustle Fund. Notably, the round included a secondary offering providing liquidity to early employees - a sign of maturity rare among fast-growing AI startups.
This puts Gamma squarely in competition with Microsoft's PowerPoint and Copilot integrations, not to mention fellow AI presentation tools like Beautiful.ai and Tome. But Gamma's profitable growth at scale suggests it's found product-market fit that many AI productivity tools are still chasing.
