Company · Agents & apps
Instinct revenue, valuation & funding
Instinct was valued at $10 billion after a $1 billion Series C announced in September 2026. It's a private company with no ticker or stated IPO plan, and it hasn't disclosed revenue, which Sacra describes as none so far.
At a glance
- Valuation: $10 billion after its $1 billion Series C, announced in September 2026.
- Revenue: none disclosed. Sacra describes it as pre-revenue, with the assistant free to users.
- Status: private. No stock ticker. No plan to go public has been stated.
- Founded: 2025, by Noah Shinn. Based in San Francisco.
- CEO: Noah Shinn.
- Investors: Sequoia Capital, Benchmark, Coatue, Index Ventures, Kleiner Perkins, Greenoaks and Conviction.
- Products: the Instinct assistant, reached by text or phone call, plus Instinct Concierge and the Trusted Person Network.
- Employees: about 14, per Multiples in September 2026.
- On Real Alpha: 1 moments of its people talking, from 1 interview.
Is Instinct public? Can you buy its stock?
No. Instinct is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol. Multiples lists it as privately held, operated by Spear Street Technology Inc.
Instinct and Noah Shinn have not said anything public about plans to go public. No IPO filing has been reported.
Its shares are held privately by its founder and its venture investors. No stake has been disclosed. This page reports facts and gives no investment advice.
Valuation, round by round
Its valuation rose from $50 million at its April 2026 seed to $10 billion in September 2026, two hundred times in about five months.
| Date | Valued at | Raised | Led by | Source |
|---|---|---|---|---|
| Sep 2026 | $10B | $1B | — | Business Wire |
| Aug 2026 | $2.5B | $250M | Index Ventures and Benchmark (co-led) | Value Add VC |
| Aug 2026 | $500M | $75M | Kleiner Perkins | Value Add VC |
| Apr 2026 | $50M | — | Conviction | Value Add VC |
The seed round's amount was not published. Sacra estimates total funding at approximately $1.35 billion, including approximately $100 million raised before the Series B.
How Instinct makes money
Instinct has not disclosed revenue, and Sacra describes it as pre-revenue. The assistant is free, and the company runs on venture funding.
- Free to users. The assistant costs nothing to use, and the company is funded by venture capital. Sacra
- Merchant fees planned. Shinn plans a transaction take rate paid by merchants, with no subscription. The product stays free for users, and the rate is still being evaluated. Sacra
- Transaction volume. Shinn said in September 2026 that Instinct is approaching $1 billion in annual transaction volume, about half of it travel. That is money users spend through the assistant. Fortune
- Margins. Sacra expects gross margins to start below mature SaaS norms, since inference, voice and SMS costs vary with use. It calls the take rate and margins unproven. Sacra
Products
The assistant launched in private beta in February 2026, as the WSJ reported and Fortune relayed. In August 2026 it opened an invite-only beta, with five invites for each user.
- Instinct, the assistant. A free personal assistant that users reach by message or phone call. It was still invite-only at the end of September 2026. Fortune
- Instinct Concierge. A white-glove service for high-touch cases, such as making phone calls and booking high-end services. It was released in the months before September 2026. Business Wire
- Trusted Person Network. Lets a user's assistant talk to other Instincts to coordinate plans and share files. It was announced in the September 2026 release. Business Wire
Users and usage
Instinct has not published a user count. Fortune said in September 2026 that it was unclear how many users it has.
Shinn said in a September 2026 interview that around 40% of users connect a personal credit card within three weeks (Dealroom). He also said about half of the spending through Instinct is travel.
From Instinct's interviews
- 23:10 Trust builds gradually, then drives much higher retentionNoah Shinn · Invest Like the Best · Sep 2026
Leadership
Instinct had about 14 employees in September 2026, according to Multiples.
- Noah Shinn, founder and CEO. He co-wrote the Reflexion paper as an undergraduate before starting Instinct. Value Add VC
Who owns Instinct?
Its founder and its investors. As a private company it doesn't publish who holds what, and no stake has been disclosed.
Sacra estimates total funding at approximately $1.35 billion across its rounds.
- Conviction and Greenoaks backed the April 2026 seed round, which valued Instinct at $50 million. Value Add VC
- Kleiner Perkins led the $75 million Series A in early August 2026. Value Add VC
- Index Ventures and Benchmark co-led the $250 million Series B in August 2026. Value Add VC
- Sequoia Capital, Benchmark and Coatue put in the $1 billion Series C in September 2026. No lead investor was named. Business Wire
Competitors
Fortune reported in September 2026 that Instinct competes directly with Meta's Muse. Sacra calls Muse its most direct competitor.
Timeline and latest news
From its founding to the latest reports, newest first.
- Sep 30, 2026Latest
Fortune reported that Instinct competes directly with Meta's Muse. Fortune - Sep 28, 2026Latest
Announced a $1 billion Series C at a $10 billion valuation from Sequoia, Benchmark and Coatue. Business Wire - Sep 28, 2026Latest
Shinn said Instinct is approaching $1 billion in annual transaction volume, about half of it travel. Fortune - Sep 2026
Shinn said around 40% of users connect a personal credit card within three weeks. Dealroom - Sep 2026
Sacra estimated total funding at approximately $1.35 billion. Sacra - Sep 2026
Multiples listed about 14 employees. Multiples - Aug 26, 2026
Raised a $250 million Series B at a $2.5 billion valuation, co-led by Index Ventures and Benchmark. Value Add VC - Aug 24, 2026
TechCrunch reported privacy and security concerns about the assistant. TechCrunch - Aug 2026
Raised a $75 million Series A at a $500 million valuation, led by Kleiner Perkins. Value Add VC - Aug 2026
Opened an invite-only beta with five invites for each user. Fortune - Apr 2026
Raised a seed round from Conviction and Greenoaks at a $50 million valuation. Value Add VC - Feb 2026
Launched its assistant in private beta. Fortune
Legal matters
No lawsuit or regulator action against Instinct has been reported.
On August 24, 2026 TechCrunch reported privacy and security concerns, including broad terms of service. Some testers raised "concerns about the AI agent’s security model and its worrisome terms of service." Instinct told the WSJ it was taking the concerns seriously.
In their own words, and what followed
What people said about the business, with the minute they said it, and what was reported after.
Noah Shinn on Invest Like the Best · Sep 28, 2026
“three weeks in, there's a 40% chance that the user has shared a personal credit card with Instinct.”
23:10 Trust builds gradually, then drives much higher retention
Reported after
Two days later Fortune reported the assistant was still invite-only, and said it was unclear how many users it has. Fortune
Mark Zuckerberg on Sources · Sep 8, 2026
“whether it's GrokBot, Town, Instinct.”
19:38 Muse turns personal goals into ongoing projects
Reported after
On September 30, 2026 Fortune reported that Instinct competes directly with Muse, Meta's personal agent. Fortune
Alex Atallah on Sabrina Halper Show · Sep 29, 2026
“everyone is talking about instinct”
19:24 Agents could unlock purchases people currently avoid
Reported after
A day later Fortune reported that the assistant remained invite-only. Fortune
What others say about Instinct
Moments where people outside the company talk about it.
· My First Million · Sep 30, 2026
13:19 Instinct can push customer-service complaints through 3 min
Jensen Huang · BG2 · Oct 15, 2026
“One of them really doing great, Noah Instinct.”
1:01:57 Nvidia demand rests on three segments, not two AI labs 4 min
Shaan Puri · My First Million · Sep 30, 2026
“the founder of instinct said he wants us to be free forever”
32:00 AI agents could take control of where consumers buy 5 min
Anjney Midha · TBPN · Oct 13, 2026
“You have like an instinct moment where you go from obscurity to, overwhelming demand.”
54:13 How pooled compute lets startups and public users share GPU capacity 5 min
Shaan Puri · My First Million · Sep 30, 2026
“So I think instinct has tapped into,”
20:47 Emotional support may matter as much as AI intelligence 6 min
Questions people ask
Is Instinct a public company? Can I buy Instinct stock?
No. Instinct is private and has no ticker, so its shares aren't sold on any exchange.
When will Instinct IPO?
It hasn't announced any plan to go public, and no IPO filing has been reported.
Who owns Instinct?
Its founder and investors, including Sequoia Capital, Benchmark, Coatue, Index Ventures, Kleiner Perkins, Greenoaks and Conviction. Stakes haven't been disclosed.
Who is the CEO of Instinct?
Noah Shinn, who founded it in 2025 after co-writing the Reflexion paper as an undergraduate.
How much is Instinct worth?
$10 billion, set by its $1 billion Series C announced in September 2026 (Business Wire).
How much revenue does Instinct make?
It hasn't disclosed revenue. Sacra describes it as pre-revenue, with the assistant free to users.
How does Instinct make money?
It doesn't yet. The assistant is free and venture funded. Shinn plans a transaction fee paid by merchants, with the rate still being evaluated.
How many people use Instinct?
It hasn't published a user count. Shinn said around 40% of users connect a personal credit card within three weeks. 23:10
Where is Instinct headquartered?
San Francisco.
Who are Instinct's competitors?
Meta's Muse most directly, plus Town, Google Gemini, Lindy, Fyxer, Motion and Tasklet, per Sacra.
Every moment from Instinct's people
1 moment from 1 interview on 1 show, newest first. Each one plays from the minute it starts.
Invest Like the Best · Sep 28, 2026 · 1 moment
The $10B AI Assistant Challenging Meta's Muse, Grok's Bots, and OpenAI's Dots
People on Real Alpha
- Noah Shinn, Founder & CEO, Instinct · 1 moment
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How this page is sourced
Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it. Spotted something that's off? .
Last checked Nov 8, 2026