Listen Labs Ditches $1.5B Round for Salesforce Deal

AI market research startup Listen Labs walked away from a signed $125 million Series C term sheet at a $1.5 billion valuation, with Menlo Ventures set to lead. The rare move appears linked to acquisition talks with Salesforce, which has reportedly offered around $2 billion for the company. Founded in 2023, Listen Labs uses voice AI to automate customer interviews for clients including Microsoft, Canva, and Anthropic, generating around $30 million in annualized revenue. If Salesforce talks fall through, VCs expect the startup to return to market targeting a $2 billion-plus valuation.