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The startup world is changing fast.
Higher interest rates, lack of VC funding and a slow economy means that many startups need to change how they operate.
Despite the challenging environment, a small number of new companies are seeing rapid growth.
From tech to ecommerce, this is our list of the fastest-growing startups in 2024.
1. Perplexity AI
5-year search growth: 7,100%
Search growth status: Regular
Year founded: 2022
Location: San Francisco, California
Funding: $165M (Series Unknown)
What they do: Perplexity has developed a generative AI-powered conversational search engine that directly answers user queries, similar to an AI chatbot. Users get access to various AI models (GPT-4o, Claude 3, and Sonar Large), up-to-date information, and exceptional accuracy and contextual awareness.
The AI tool currently has 10 million monthly active users and $20 million in ARR (up from $5 to $10 million in January). The AI search engine startup is in the process of raising an additional $250 million in funding at a valuation between $2.5 and $3 billion.
2. ZeroTier
5-year search growth: 488%
Search growth status: Exploding
Year founded: 2015
Location: Los Angeles, California
Funding: $17.2M (Series A)
What they do: ZeroTier is a platform used to deploy and maintain secure peer-to-peer networks. The virtual networks are encrypted, and only the owner has access to the encryption keys, adding another layer of security to the network. According to the startup,…
