Instinct, the AI assistant startup that launched its invite-only service just last month, has quickly raised $1 billion in a Series C funding round, skyrocketing its valuation to $10 billion. Investors in the round included major names such as Sequoia Capital, Benchmark Capital, and Coatue. This rapid fundraising milestone highlights the strong interest and momentum around a new generation of consumer AI agents capable of performing tasks beyond simple chat, including booking travel, making purchases, ordering groceries, and managing personal errands.

The company has recently introduced features like “concierge,” which can place phone calls to schedule appointments at businesses without online booking, and a “trusted person network” that enables users’ AI assistants to coordinate plans with the assistants of their friends. Instinct communicates with users primarily via SMS and text messaging, replacing the need for a mobile app—a space where it faces competition. Privacy concerns have emerged, notably over the extensive personal data users must share with the AI to unlock its capabilities. Instinct has since updated its privacy policy in response to these critiques.

Competition is intensifying as Meta recently launched its own AI assistant, Muse, which offers overlapping functionalities but integrates deeply with Meta’s suite of social products like Instagram and Facebook. Muse’s ability to monitor and summarize social media interactions and marketplace listings has boosted its popularity, making it the top app in U.S. stores with millions of downloads. Instinct, in contrast, has so far chosen not to develop a mobile app or publicly disclose user or growth figures, though investor enthusiasm suggests strong underlying confidence.

Founder Noah Shinn emphasized the company’s goal to create a personal AI agent capable of handling delicate and routine aspects of daily life, calling the current period “exciting” for AI innovation. The fresh funding will support broader adoption of Instinct and ongoing development of the platform. Despite the privacy challenges and competition, Instinct’s swift rise and substantial capital infusion underscore the growing demand for AI agents that can deliver personalized, task-oriented assistance to consumers.