Simile, an AI startup building models that simulate consumer behavior, has raised $300 million at a $2 billion valuation, CEO Joon Sung Park said on the Sourcery podcast. Park said the company is creating a foundation model of human behavior that allows businesses to define an audience and ask simulated consumers questions about products, marketing campaigns and store layouts.
Joon Sung Park, co-founder and chief executive of Simile, told podcast host Molly O'Shea that the company is "creating a foundation model of human behavior" that can simulate how people might act in different contexts. Users gain access to a web interface where they can specify who they want to talk to and what questions they want to ask.
Park said the startup already works with CVS, as well as financial institutions and entertainment companies. Simile maintains simulated panels for different industries and draws on data from more than 40 million people globally through partnerships with organisations including Gallup, alongside transaction and mobility data used to train its models.
The pitch comes as the retail sector increasingly turns to AI to understand shoppers. Amazon and Walmart have both introduced AI shopping assistants that answer questions, compare products and recommend items. Executives at both companies have said their AI tools are helping to boost online sales.
"If we can create simulations of people and be able to ask any questions at any time," Park said, "that becomes a superpower for these companies."
The $300 million funding round values Simile at $2 billion.
Analysis
Why This Matters
- Businesses may test marketing and product changes on AI-generated consumer simulations, reducing reliance on traditional focus groups and live market tests.
- The use of data from 40 million people combined with transaction and mobility records introduces new questions about the boundaries of consent and privacy in market research.
- The $2 billion valuation signals strong investor confidence that simulating human behaviour is a viable and lucrative frontier for enterprise AI.
Background
Simile is building what it describes as a foundation model of human behaviour. The concept of simulating consumers, sometimes called "digital twins," is an emerging area of enterprise software. Major retailers like Amazon and Walmart already use AI assistants that learn from customer data and directly influence purchasing decisions, placing Simile's offering in a fast-moving and competitive area of applied AI.
Key Perspectives
Joon Sung Park, Simile CEO: The company's foundation model allows clients to define an audience and ask simulated consumers any question, representing what he calls a "superpower" for businesses.
Amazon and Walmart executives: Their AI shopping assistants are helping to boost online sales, reflecting a broader industry shift toward AI-driven consumer understanding.
What to Watch
- How privacy advocates and regulators respond to the use of behavioural and mobility data to train consumer simulation models.
- Whether Simile expands its network of data partnerships beyond organisations such as Gallup to cover more populations.
- How quickly large retailers and brands adopt simulated consumer testing as a standard research practice.
Checked
12 claims in this story checked against 1 source: 10 supported.
Show each claim
- SupportedSimile raised $300 million to build models that simulate consumer behavior.All Content from Business Insider: “Simile, an AI startup, raised $300 million at a $2 billion valuation to build models that simulate consumer behavior.”
- SupportedSimile’s funding round valued the company at $2 billion.All Content from Business Insider: “Park said Simile raised $300 million in total at a $2 billion valuation.”
- SupportedSimile draws on data from more than 40 million people globally.All Content from Business Insider: “Park said Simile's partnerships with organizations, including Gallup, which have access to actual humans who have agreed to participate, provide it with data from more than 40 million people globally.”
- SupportedJoon Sung Park said on the Sourcery podcast that Simile raised the funding.All Content from Business Insider: “Joon Sung Park, Co-Founder & CEO of Simile, an AI startup, told show host Molly O'Shea on the Sourcery podcast released on Monday”
- SupportedPark said Simile is “creating a foundation model of human behavior.”All Content from Business Insider: “Park said the company is "creating a foundation model of human behavior that basically can take as input a description of a person or a group of people and then simulate what these people might do in different contexts,"”
- Partly supportedThe model lets businesses define an audience and ask simulated consumers about products, marketing campaigns and store layouts.All Content from Business Insider: “businesses can quiz about everything from products to marketing campaigns. Park said CVS has worked with Simile to better understand consumers, including their responses to store layouts and messaging.”
- SupportedPark said Simile already works with CVS, financial institutions and entertainment companies.All Content from Business Insider: “Park said CVS has worked with Simile to better understand consumers, including their responses to store layouts and messaging. The startup also works with financial institutions and entertainment companies, Park said.”
- SupportedSimile maintains simulated panels for industries and uses data from partners such as Gallup, as well as transaction and mobility data, to train its models.All Content from Business Insider: “Simile maintains simulated panels for different industries and collects additional data when customers want to understand a specific population. Park said Simile's partnerships with organizations, including Gallup”
- SupportedPark said, “If we can create simulations of people and be able to ask any questions at any time,” that “becomes a superpower for these companies.”All Content from Business Insider: ““If we can create simulations of people and be able to ask any questions at any time," Park said, "That becomes a superpower for these companies.””
- Partly supportedRetailers are increasingly turning to AI to understand shoppers.All Content from Business Insider: “Simile’s pitch comes as retailers turn to AI to get shoppers to spend. ... retailers use customer data to personalize what shoppers see.”
- SupportedAmazon and Walmart have introduced AI shopping assistants that answer questions, compare products and recommend items.All Content from Business Insider: “Amazon and Walmart have rolled out AI shopping assistants that answer questions, compare products, and recommend items”
- SupportedExecutives at Amazon and Walmart have said their AI tools are helping boost online sales.All Content from Business Insider: “Executives at both companies have said their AI tools are helping boost online sales.”
