TypeSafe AI, the developer of Jev, a new type of AI model that has rapidly gained popularity after its launch just a few weeks ago, has raised $870 million at a valuation of $7.5 billion. The round was led by Andreessen Horowitz, with participation from Sequoia and existing investor DCVC.
This massive fundraiser comes as no surprise given that Jev went viral almost instantly after its September 15 release. The startup claims that a third of Fortune 500 companies are already using this model, a remarkably rapid adoption by businesses.
Jev is based on a transformer architecture, but it is not a large language model (LLM). It doesn’t produce text, but rather produces probabilities, or what the company calls “calibrated decisions.” What has users and large companies so excited about Jev is TypeSafe’s claim that it works much faster and uses significantly fewer tokens than LLMs. The company positions its approach as being particularly suited to automating tasks rather than generating text or code.
“We’ve gotten very good at human language for four years, but it’s not useful for automation because computers speak a different language,” TypeSafe co-founder Diogo Almeida told TechCrunch last month.
Along with Almeida, who was previously a researcher at OpenAI, TypeSafe was co-founded in 2024 by former Meta research engineer Sasha Sheng and Erik Gafni, an engineer and entrepreneur.
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