Dust raises $40M Series B as Paris AI workspace hits 3,000 organisations

Paris-based AI workspace Dust closed a $40M Series B on 18 May 2026, led by Sequoia Capital and Abstract Ventures, with Snowflake Ventures and Datadog joining as new strategic investors. The round brings total funding past $60M, roughly seven months after the company’s $16M Series A.

Dust is built as a multi-agent workspace where employees and configurable AI agents share context across internal tools — Slack, Notion, Salesforce, GitHub, Google Drive, Confluence, Zendesk — with role-based access and EU hosting. CEO Stanislas Polu, formerly a research engineer at OpenAI and an early hire at Stripe, said roughly 3,000 organisations and 41,000 monthly active users were on the platform by the time the round closed.

The product is positioned against the three US incumbents now competing for the internal-AI-assistant slot in large companies: ChatGPT Enterprise, Microsoft Copilot, and Glean. The pitch leans on the multiplayer angle — persistent shared agents that hold team-wide context across tools, rather than isolated chat threads per employee.

For the European-alternatives angle, Dust is the second Paris AI lab to take a major round in May 2026, after Yann LeCun’s AMI Labs raised $1B. Both are structured as French SAS entities — Permutation Labs SAS sits at SIREN 949205314 in Paris’s 17th arrondissement — rather than the Delaware C-corp pattern common to YC-funded European founders. With Aleph Alpha’s PhariaAI expected to drop from the European-alternatives set once the Cohere merger closes, Dust now sits alongside Le Chat as a credible European peer to ChatGPT in the enterprise-AI-workspace category.