When was Essential AI founded?

Essential AI was founded in 2023 and raised its 1st funding round within a year of its incorporation.

Where is Essential AI located?

Essential AI is headquartered in San Francisco, United States.

Who is the current CEO of Essential AI?

Ashish Vaswani of Essential AI. They have also founded 2 companies and are an angel investors in 1 startup.

Is Essential AI a funded company?

Essential AI is a funded company, having raised a total of $64.8M across 2 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on May 04, 2023.

When was the latest funding round of Essential AI?

Essential AI's latest funding was a $***** Series A round on Sep 12, 2023, with participation from 7 investors.

Where does Essential AI rank among its competitors?

Essential AI ranks 7th amongst 568 active competitors, of which 27 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Intento, which secured $3.95M in Sep, 2025.

Who are the top competitors of Essential AI?

Essential AI's top competitors include Grammarly, QuillBot and Ginger Software. Among them, Intento secured the most recent funding round in September, 2025.

Essential AI - 2026 Company Profile, Team, Funding & Competitors

Essential AI is a series A company based in San Francisco (United States), founded in 2023 by Ashish Vaswani and Niki Parmar. It operates as a Developer of language model-based software for enterprises. Essential AI has raised $64.8M in funding from Thrive Capital and Marc Capital. The company has 568 active competitors, including 27 funded and 7 that have exited. Its top competitors include companies like Grammarly, QuillBot and Ginger Software.

Company Details

Developer of language model-based software for enterprises. Its software leverages technology to create machine learning and artificial intelligence solutions. It builds software that utilizes large language models as the core of an AI system.

Key Metrics

Founded Year

2023

Location

San Francisco, United States

Stage

Series A

Total Funding

$64.8M in 2 rounds

Latest Funding Round

Series A, Sep 12, 2023, $*****

Investors

Thrive Capital & 15 more

Ranked

7^th among 568 active competitors

Similar Companies

Grammarly & 673 more

View Essential AI's full profile

Essential AI is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Essential AI Labs, Inc. CIN: 1999940 , United States, Active	Sep 21, 2023	-	-	-

Essential AI has raised a total funding of $64.8M over 2 rounds. Its first funding round was on May 04, 2023. Its latest funding round was a Series A round on Sep 12, 2023 for $*****. 7 investors participated in its latest round. Essential AI has 8 institutional investors and 8 angel investors.

Here is the list of recent funding rounds of Essential AI:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 12, 2023	5455336	Series A	7078112	7376024	1378029	3533437
May 04, 2023	6436436	Series A	5557729	7371959	Thrive Capital	Elad Gil & 5 more

Access funding benchmarks and valuations. Sign up today!

View details of Essential AI's funding rounds and investors

The founders of Essential AI are Ashish Vaswani and Niki Parmar. Ashish Vaswani is the CEO of Essential AI.

Here are the details of Essential AI's key team members:

Ashish Vaswani: Co-Founder & CEO of Essential AI and founder of 1 other company. They are also an angel investor in 1 startup.
Contact Info: 1 email address
Niki Parmar: Former Co-Founder of Essential AI.

View details of Essential AI's Founder profiles and Board Members

Access Tracxn on any website

Our Google Chrome extension lets you view company details while browsing their websites

Install Tracxn Extension

Top competitors of Essential AI include Grammarly, QuillBot and Ginger Software. Here is the list of Top 10 competitors of Essential AI, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Grammarly 2009, San Francisco (United States), Series B	Provider of AI and cloud-based writing assistance platform for improving writing and communication	$545M	General Catalyst, Baillie Gifford & 9 others	81/100
2nd	QuillBot 2017, Chicago (United States), Acquired	Provider of an AI-based paraphrasing tool	$4.28M	Sierra Ventures, GSV Ventures & 2 others	62/100
3rd	Ginger Software 2007, Boston (United States), Series D	Software for improving grammatical skills	$21M	Harbor Pacific Capital, Vaizra Investments ... & 2 others	61/100
4th	Intento 2013, Berkeley (United States), Series A	Provider of AI-driven language translation and localization platform for enterprises	$16.2M	Flint Capital, Somersault Ventures & 10 others	55/100
5th	CleverType 2024, Kozhikode (India), Unfunded	Provider of AI-powered keyboard tools for grammar correction and tone adjustment	-	-	46/100
6th	TextAdviser Beograd (Serbia), Unfunded	TextAdviser: AI-Powered Writing Assistance for Polished Content \| TextAdviser	-	-	45/100
7th	Essential AI 2023, San Francisco (United States), Series A	Developer of language model-based software for enterprises	$64.8M	Nvidia, Google & 14 others	45/100
8th	eAngel 2012, Canada, Unfunded	Provider of an app-based proofreading service	-	-	44/100
9th	Correcto 2021, Madrid (Spain), Series A	Provider of an app-based platform for writing assistants	$7.2M	Octopus Ventures, Fuel Ventures & 2 others	44/100
10th	Matter 2020, San Francisco (United States), Series A	Social reading app for articles, blogs, and newsletters	$9.15M	Google Ventures, Y Combinator & 13 others	42/100