AI research startup Listen Labs scrubbed a $1.5B funding round for Salesforce talks
Listen Labs abandoned a signed $125M Series C term sheet at a $1.5B valuation amid acquisition talks with Salesforce at roughly $2 billion.
Listen Labs, a three-year-old voice AI market research startup with about $30 million in annualized revenue, signed a term sheet for a $125 million Series C led by Menlo Ventures at a $1.5 billion valuation but walked away before closing. The financing likely collapsed due to acquisition talks with Salesforce at around $2 billion, though no deal is finalized. Competitor Simile recently closed a $200 million Series B at a $2 billion valuation, resetting benchmarks for the sector. Listen Labs' customers include Microsoft, Canva, Anthropic, and Sweetgreen.
- Signed $125M Series C at $1.5B valuation from Menlo Ventures was abandoned, a rare move.
- Salesforce has discussed acquiring Listen Labs for roughly $2 billion; talks are not finalized.
- Startup reports ~$30M annualized revenue, about 3x rival Simile's, per sources.
- Competitors include Simile, Outset, Keplar, and Aaru in AI-driven market research.
- Customers include Microsoft, Canva, Anthropic, and Sweetgreen.
- Products
- App Store Connect
- Victims
- Listen Labs
- Countries
- United States
From the original article
3 min read at techcrunch.com
Listen Labs walked away from a signed Series C term sheet from Menlo Ventures, sources say.
By Marina Temkin · techcrunch.com
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