The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Optionality

mixed, leaning constrained — a small early institutional stake (~$11M, Khosla Ventures-led, closed ~2018-2022) rather than the large-and-recent VC dependence typical of frontier-lab peers; the long gap since any new funding round plus continuous subscription revenue (disputed range ~$4.8-35M/yr, ~25% of users paying) suggest the company has been running substantially on its own subscription income for years, pushing toward mixed per the wave recipe's carve-out. Still a private company with original institutional investors presumably holding board seats, so not called free; confidence low given how thin the sourcing is on actual governance/control terms.

med confidence · as of 2026-07-28 · about Replika

Sourced figures 3


the working

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A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Replika.