Jasper announced big news today that seriously expands its stronghold as a market leader in the AI-powered creator tool space.
Jasper’s big investment round
The company’s CEO, Dave Rogenmoser, announced this week that Jasper ai raised $125M (at a $1.5 billion valuation) to continue development of its platform.
The investment comes from a who’s who of venture capital funds and notable private investors. It marks an astonishing ascent to “unicorn” status (company value greater than $1 billion). And is particularly impressive at a time when many tech investors are making new investments more cautiously then in years leading up to 2022.
We are excited to see this latest investment and believe it validates what we wrote about last month as we got our hands on Jasper to demo the tool.
One of the lead investors this week laid this out himself, as stated to Techcrunch:
“It’s not often that you see a shift as significant as generative AI, and Jasper is positioned to be a platform to transform the way businesses develop content and convey ideas. The company has built an enormous community around AI in such a short time, and we see new use cases shared every day, including in the enterprise. We look forward to partnering with the Jasper team as they continue to grow and expand on their vision.”Jeff Horing at Insight Partners, via Techcrunch
Jasper’s growth has been truly astounding in such a short period of time. With more than 70,000 customers and $40M in revenue in 2021 (it’s first year on the market), it expects to hit $90M by the end of 2022.
Jasper’s team appears hyper focused on continuing development and improving upon the current foundation. We’re excited to see how this latest round supports their efforts.
That investment isn’t all though.
The company also unveiled a new standalone AI Art feature that will allow content creators to use AI to produce their own original works.
We have also recently been playing with related AI art tools, including Dall-e-2 and Stability.ai’s Stable Diffusion (aka “DreamStudio”). In fact, the featured image up top was created by Dall-e-2 in about 2 seconds. We input the phrase “dollar bills falling from the sky like rain, digital art” and out popped 4 options. (FYI the watermark in the lower right hand corner is Dall-e-2’s. You can leave that or crop it as you wish – the license permits open use).
AI-powered art engines like this follow a similar script to AI-copywriting tools like Jasper, copy ai, etc. The technology has scoured the web to train based on images publicly available. The data pulled from that training is then called – pixel by pixel – based on user input. The resulting images are original. Inputting the same words and requesting another round of images brings up a whole new set.
This is another space moving fast, and is quite frankly, mind-blowing. We are by NO means artistic, but the art we can create with proper inputs is pretty decent and easy. It is far from perfect, but again for how new it is and how quickly it seems to be progressing, this is another area we think is worth watching.
Jasper continues to acquire to build out AI capabilities
While in the midst of closing the latest funding round, Jasper’s on the hunt for tools to buy and integrate. That includes it’s most recent target, Outwrite, a tool to check grammar and style.
Outwrite brings grammar, readability, style suggestions, and other such features into the mix in an easy way. Jasper currently includes Grammarly integration (with Grammarly subscription separate). So buying Outwrite may bring this right in-house without relying on outside providers for these capabilities (and more revenue, we assume, to Jasper via add-on subscription costs).
Another exciting step as Jasper takes a stand as a market leader and innovator in the AI-powered content creation space.
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