2026 IA40 list: 45 applied AI startups have raised $410B as market matures
msbernst · x · 2026-09-03
Madrona released the sixth annual Intelligent Applications 40, with 450+ companies nominated and voted on by 72 investors across 54 firms. Key numbers: this year's 45 winners have raised $410B since founding — over 25x the inaugural 2021 class at the same point; 23 repeaters and 22 new entrants give a 49% turnover rate, down from 68% last year, signaling 2025's breakout companies are entrenching. Simile made the list. The big theme this year is companies "harnessing the value" of AI as the applied market matures fast.
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