Gamma Tech Inc., a provider of artificial intelligence-enabled services for presentations, social media, and the web, today announced that it has raised $68 million, led by Andreessen Horowitz, at a valuation of $2.1 billion.

Accel, Uncork Capital and other venture capital firms also participated in the company’s Series B funding round, bringing the total capital raised to around $91 million.

Launched in 2020, Gamma focuses on providing a canvas to allow users to express themselves, create and share ideas. The company began as an AI-powered alternative to Microsoft Corp.’s PowerPoint. It quickly evolved its services to become what it calls a “complete visual storytelling platform” for presentations, websites and interactive documents.

“Gamma is solving a universal problem – everyone has ideas worth sharing, but not everyone has the time or design skills to make them compelling,” said Chief Executive Grant Lee. “Gamma levels the playing field. This is the future of business storytelling.”

The company’s latest release, Gamma 3.0, offers users a built-in AI design agent that helps them quickly transform ideas into interactive presentations. It can take roughly written concepts, documents or links and build them into full-fledged presentations or websites within minutes.

All features are included in a collaborative workspace, allowing users to share and iterate on their work with smart layouts to provide a head start.

Andreessen Horowitz is not just an investor, but also a primary user of the platform. “At a16z, we’ve been using Gamma internally for market maps, social media posts, you name it. It has fundamentally changed how we communicate,” said Sarah Wang, general partner at Andreessen Horowitz.

The AI-powered presentation market already has top contenders from major tech companies, including Google LLC’s Slides and PowerPoint, to which Gamma presents itself as an alternative. Both have solutions that offer AI chatbots built directly into them. Other companies offering similar services include Canva Pty Ltd. and SlidesAI.

Gamma also announced that its annual recurring revenue has surpassed $100 million. The company employs 50 people. It has a customer base of about 70 million users globally, who have created more than 400 million presentations, websites and other assets at a rate of more than 1 million pieces of content generated a day.

The company plans to use the new funding to grow its team and accelerate product development with new features.

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