AI startup Listen Labs abandons $150 million Series C funding round, pivots to Salesforce acquisition talks

According to TechCrunch, AI market research startup Listen Labs recently signed a term sheet for a $125 million Series C funding round led by Menlo Ventures at a $1.5 billion valuation, but unexpectedly pulled out, likely due to acquisition talks with Salesforce. Salesforce is reportedly in talks to acquire the company for approximately $2 billion, but the deal has not yet been finalized. Founded in 2023, Listen Labs leverages voice and video AI to automate customer interviews and generate research reports. The company currently generates roughly $30 million in annualized revenue, serving major clients such as Microsoft, Canva, and Anthropic. If talks with Salesforce fall through, several venture capitalists expect the company to return to the fundraising market, targeting a valuation of $2 billion or higher. The company's most recent funding round was a $69 million Series B led by Ribbit Capital in January, which valued the business at $500 million.