Letta Secures $10 Million in Seed Round
Letta, a San Francisco, CA-based generative AI startup, has emerged from stealth with $10 million in seed funding.
The round was led by Felicis, with participation from Sunflower Capital, Essence VC, and prominent angel investors, including Jeff Dean (Google DeepMind), Clem Delangue (Hugging Face), and others.
Founded in 2006, Felicis is a venture capital firm based in Menlo Park, California, that invests across industries and stages. The firm supports founders in building iconic companies and has backed over 49 companies valued at $1B+, with 17 IPOs.
The funding will support Letta to continue building a new hosted product, Letta Cloud, for developers to build and deploy agents with advanced memory systems.
Founded by Charles Packer and Sarah Wooders, Letta spun out of UC Berkeley's AI research lab and focuses on building tools and platforms for developers to create and deploy AI agents with advanced memory systems. Its flagship product, Letta Cloud, provides a hosted environment where developers can deploy and run stateful AI agents using APIs. The platform is model-agnostic, allowing agents to work across different large language models (LLMs). The company is releasing its Agent Developer Environment (ADE) and API platform for building and deploying AI agents for free, and it is onboarding early developers to the beta of its Letta Cloud-hosted platform.
Funding Details
Company: Letta
Raised: $10.0M
Round: Seed Round
Funding Date: September 2024
Lead Investor: Felicis
Additional Investors: Sunflower Capital, Essence VC, Jeff Dean, Clem Delangue
Company Website: https://www.letta.com/
Software Category: Agents Development