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About Elicit
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Healthcare
Company Size
51-200
Company Stage
Series A
Total Funding
$31M
Headquarters
Oakland, California
Founded
2023
Overview
Elicit is an AI-powered research assistant that speeds up complex scholarly workflows by using large language models to search a database of over 125 million papers through natural-language queries. It goes beyond keyword searches by finding semantically relevant studies, extracts specific data from papers, and compiles results into organized tables and summaries. Users can upload their own PDFs for analysis, with outputs grounded in verifiable sources to reduce AI hallucinations. The platform operates as a Public Benefit Corporation, serving individuals and large organizations while offering tiered freemium pricing to improve research efficiency and evidence-based decision making.
Simplify's Take
What believers are saying
- Series A $22M at $100M valuation from Spark Capital fuels enterprise expansion.
- 400,000 monthly users convert via freemium to millions in recurring revenue.
- Genentech, Novartis partnerships drive life sciences R&D adoption rapidly.
What critics are saying
- Perplexity Deep Research replicates features, steals 60-80% users in 6-12 months.
- OpenAI ChatGPT Scholar undercuts freemium, erodes subscriptions in 3-6 months.
- Semantic Scholar free tools commoditize extraction, collapse moat in 12-18 months.
What makes Elicit unique
- Elicit automates systematic reviews, screening titles and extracting data 80% faster.
- Clinical Trials feature launched 2026 targets pharma trial monitoring uniquely.
- Public Benefit Corporation prioritizes societal reasoning over pure profit.
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Funding
Total Funding
$31M
Above
Industry Average
Funded Over
2 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Flexible Work Hours
Remote Work Options
Paid Vacation
401(k) Retirement Plan
401(k) Company Match
Home Office Stipend
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↑ 4%2 year growth
↑ 0%Last month, Elicit introduced Elicit Systematic Review, a new AI workflow that allows researchers to find papers, screen titles and abstracts, and extract data from full-text papers in 80% less time, without compromising accuracy.
Elicit has raised $22M in Series A funding at a $100M valuation led by Spark Capital and Footwork. Existing investors Fifty Years, Basis Set, and Mythos also participated, reinforcing their conviction in our mission to deploy AI to radically increase good reasoning in the world. Today, Elicit is used by
Elicit has raised $22 million in Series A funding at a $100 million valuation, led by Spark Capital and Footwork, with participation from existing investors. Elicit, used by over 400,000 researchers monthly, aims to expand its AI platform beyond academic research to support evidence-based decision-making across industries. The funding will help Elicit build infrastructure for good reasoning as AI reshapes the global economy by 2027.
We're excited to share that Elicit has raised $9 million in seed funding. Elicit was born at Ought, a non-profit research organization, and is now an independent public benefit corporation. Like Ought, our mission is to scale up good reasoning using machine learning, starting with researchers. Elicit is designed to
Elicit is Hiring for 12 Jobs on Simplify!
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About Elicit
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Healthcare
Company Size
51-200
Company Stage
Series A
Total Funding
$31M
Headquarters
Oakland, California
Founded
2023
Elicit is Hiring for 12 Jobs on Simplify!
Find jobs on Simplify and start your career today