Tome, AI Startup Founded by Ex-Meta Managers, Discusses Fundraising at $600 Million Valuation

Tome, a startup that uses artificial intelligence to make it easier to create and design presentations, has talked to investors about raising new money that could double its valuation to up to $600 million, according to two people with direct knowledge of the discussions. The new financing could amount to $60 million, according to one of the people, and comes while the nearly three-year-old company has generated barely any revenue.

The talks, which started last month, come just five months after the San Francisco startup announced it had raised $43 million in Series B financing led by Lightspeed Venture Partners, a sign of the recent investor fervor for startups developing AI-powered tools. Venture investors are reaching out to the company with unsolicited offers to invest, an echo of the competitive dealmaking that characterized the 2020-2021 tech bull market that has largely evaporated outside of AI.