Wabi Raises $55 Million at $1.25 Billion Valuation After AI Agent Pivot
Wabi raises $55 million at a $1.25 billion valuation, backing Eugenia Kuyda's pivot from prompt-built apps to a personal AI agent and messenger called Wabi 2.0.
Summary
On October 29, 2026, Wabi said it raised $55 million at a $1.25 billion valuation after repositioning itself as a personal AI agent. Founded by Replika creator Eugenia Kuyda, Wabi began as a prompt-based app builder, then pivoted in September to Wabi 2.0, an AI messenger that creates interfaces and mini apps for meal planning, local restaurant tracking, date nights, fitness plans and specialized trivia games.
IVP led the round, with Andreessen Horowitz, or a16z, Forerunner, Amazon Alexa Fund, Shopify CEO Tobi Lütke, Salesforce CEO Marc Benioff, former Yahoo head Marissa Mayer, former Twitter CEO Dick Costolo and The Chainsmokers member Alex Pall participating. IVP general partner Alex Lim said Kuyda's vision extends AI beyond text boxes and command lines. Investor demand for consumer agents is accelerating: viral agent Instinct raised another $1 billion at a $10 billion valuation in September, while Muppet-like AI companion Tolan raised $30 million.
Positives
- $55 million in new funding values Wabi at $1.25 billion following its shift toward personal AI agents.
- Wabi 2.0 can generate task-specific interfaces and mini apps instead of limiting users to a conventional chat box.
- IVP led a round backed by a16z, Forerunner, Amazon Alexa Fund and prominent technology executives.
- Six proposed use cases span food, local discovery, dating, fitness and entertainment.
- Instinct's $1 billion round and Tolan's $30 million raise demonstrate strong investor appetite for consumer AI agents.
Risks & concerns
- Wabi changed direction from prompt-built apps to an AI messenger only one month before announcing the financing.
- Its mini-app capabilities are presented as proposed uses, with adoption and performance evidence still limited.
- Instinct's $10 billion valuation and Tolan's financing underline intensifying competition for consumer AI assistants.
- Pricing, availability, user numbers and revenue were not detailed, leaving Wabi 2.0's commercial progress unclear.