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If AI does not lead venture out of its current slowdown, perhaps nothing will.

A day after investors flooded $700 million into two AI startups 鈥� and 鈥� Turkey-based AI marketing platform locked up another $105 million.

Insider CEO and co-founder told the company鈥檚 valuation had increased 鈥渧ery much closer to $2 billion.鈥�

The company previously raised a $121 million Series D at a $1.22 billion valuation in March 2022 鈥� first minting it as a unicorn.

The new round was from existing investors, 听补苍诲 .

In a space where every investor seems to fear being left behind, Qatar Investment Authority seems determined to not let that happen. The sovereign wealth fund led London-based Builder.ai鈥檚 Series D of more than $250 million on Tuesday.

Let鈥檚 go shopping

Insider offers a platform that allows its more than 1,200 customers to connect customer data across channels and systems, predict future behavior with an AI-enhanced engine, and provides an individualized customer experience.

The company plans to use the new cash for M&A dealmaking. In January, Insider made its first acquisition, buying Turkey-based messaging platform .

鈥淎t Insider, we have successfully achieved hyper-growth via organic means, until now. Now, we are looking to achieve unparalleled levels of growth with an M&A-focused strategy,鈥� Cilingir said in a . 鈥淭hese funds will be used exclusively for the purpose of acquiring exceptional product companies to further complement our technology and create product synergies.聽

鈥淯nlike our $121 million Series D investment in 2022, which has bolstered our capital reserves for operational spending in the coming years, this latest round will specifically serve to fuel inorganic growth through M&A,鈥� she added.

Founded in 2012, Insider鈥檚 total funding amount is now $274 million, per the company.

Further reading:

• AI Craze Hits New Level As Anthropic Locks Up $450M, Builder.ai Closes $250M Round

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