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MemGPT

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Personalized AI with long-term memory

San Francisco, United StatesFounded 2023AI
Valuation $50–100M Last recorded · 2024
Total funding $10–50M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for MemGPT and the history behind them.

About MemGPT

MemGPT is an artificial intelligence company founded in 2023 by Charles Packer and Sarah Wooders, originating from research conducted at the University of California, Berkeley. The foundational concept for MemGPT emerged from Charles Packer's PhD work at UC Berkeley's AI Research (BAIR) and Sky Computing Lab, where he, along with a team including Sarah Wooders and Vivian Fang, sought to solve the context window limitations of large language models (LLMs). This research led to the creation of an open-source framework that allows LLMs to manage their own memory, drawing inspiration from memory management techniques in traditional computer operating systems.

The company provides a system that gives LLMs a form of long-term memory, surmounting the inherent constraints of their fixed-context windows. This is achieved through a virtual context management system that employs a hierarchical memory structure, akin to a computer's use of RAM and disk storage. The technology enables LLMs to intelligently page information in and out of their active context, creating a functionally unbounded memory. This allows AI agents built with MemGPT to maintain long, continuous conversations, remember past interactions, and analyze documents that far exceed the normal token limits of the underlying models. The system works by enabling the LLM to autonomously use function calls to read, write, and modify its own memory, effectively deciding what information is critical to keep in its immediate "working memory" and what can be moved to external storage for later retrieval.

MemGPT operates as an open-source framework, targeting developers and businesses looking to build more sophisticated and stateful AI applications. These applications include personalized AI assistants, advanced customer support chatbots, and powerful tools for document analysis. In August 2024, the company secured $10 million in a Series A funding round led by Felicis Ventures, which valued the company at $70 million. The open-source project has also seen significant traction, indicated by over 11,000 stars on GitHub. The company later introduced "Letta" as the name for the agent framework to distinguish it from the core MemGPT design pattern, with plans for a commercial offering focused on easier deployment, performance improvements, and monitoring tools.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2023
Headquarters
San Francisco, United States
Open positions
None listed
Dealroom signal
50.4/100
Industry
Enterprise Software
Sector
AI, Core AI, Spinout, Novel AI, Generative AI, genAI Model Maker, genAI Applications, AI Agents, DT and LS
Technology
Artificial Intelligence, Deep Tech
Business model
SaaS
Client focus
b2b

Funding history

2 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
EARLY VC✓Equity / VC Aug 2024 $10M $70M Felicis ↗
SPINOUT✓Other financing Jan 2023 $0 — University of California, Berkeley —
Showing the latest 2 of 2 recorded eventsBook a demo for the full funding history →

Growth signals

MemGPT website traffic

Latest recorded traffic for MemGPT is 3.4K monthly website visits, down 57.5% over the last three months.

Latest monthly visits3.4K 3-month web change-57.5%
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Similar companies

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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

2 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A1 investor entered at this stage

Other known investors1 additional known investor

  • University of California, Berkeley
Team profiled 2 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 2 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇺🇸 United States · San Francisco HQ
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Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about MemGPT on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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