Exa grows 10x per year to $100M in revenue

Exa (exa.ai), which builds a search engine for AI agents, has passed $100M in annualized revenue, CEO William Bryk announced on X. According to Bryk, the company's revenue has grown by close to 10x in each of the last three years.

The milestone comes five months after Exa raised $250M at a $2.2B valuation in a Series C led by Andreessen Horowitz, with Benchmark, Lightspeed, and Y Combinator participating. Exa went through YC's Summer 2021 batch and raised its seed from Pioneer Fund and YC. A Series A led by Lightspeed and a Series B led by Benchmark came after that.

Exa now handles about 2 billion requests a month from more than 200,000 teams. The customers that query its search engine include personal assistants, AI labs, coding tools, and sales and marketing agents. Exa gives them access to hundreds of billions of web documents along with proprietary datasets.

Bryk's case for the business is that software agents search differently from people. They tend to send longer, more complicated queries, and they want data beyond what sits on the public web. Exa predicts that by 2030, agents will be running 1,000 times as many searches as humans.

Bryk said the team has spent five years building search for agents. Most investors at the seed stage didn't understand why a startup would build search for AI. In his post announcing the Series B last year, Bryk wrote that the premise had sounded crazy in 2021.

According to Bryk, Exa has more product releases coming soon.

By The SV Post Team