Salesforce Eyes Listen Labs Acquisition for $2 Billion

Salesforce is reportedly in talks to acquire AI customer research startup Listen Labs for around $2 billion. The proposed deal would give Listen Labs a higher valuation than its previously outlined Series C term sheet of $1.5 billion.

The acquisition talks appear to have led to Listen Labs walking away from a planned $125 million Series C funding round, which had been expected to be led by Menlo Ventures at a $1.5 billion valuation.

Listen Labs uses AI to conduct customer interviews through video and audio, helping companies quickly analyze customer feedback. Its clients include Microsoft, Canva, Anthropic, Perplexity, and Sweetgreen.

The company raised $69 million in Series B funding in January at a $500 million valuation, led by Ribbit Capital with Sequoia, Conviction, and Pear VC participating as returning investors.