Venice.ai Hits $1B Valuation With Privacy-First AI

Venice.ai has raised $65 million at a $1 billion valuation, positioning itself as a private, uncensored alternative to mainstream AI chatbots like ChatGPT. Founded in 2024 by crypto entrepreneur Erik Voorhees and Jesse Proudman, the platform routes queries through 200-plus AI models while storing conversations on users' devices rather than central servers. The company boasts 3.5 million registered users, processes 1.3 trillion tokens monthly, and turned profitable in Q1 2026. Funds will go toward building proprietary data center infrastructure and global expansion. The round was led by Dragonfly, with participation from Coinbase Ventures and others.