Phoebe Gates, daughter of Microsoft founder Bill Gates and philanthropist Melinda French Gates, is leading a $30 million funding round for Phia, the AI-driven online shopping startup she co-founded with Sophia Kianni in 2023. The new round, following an $8 million raise in September, would value the company at $180 million. Neither Gates nor her mother has invested, but notable backers include Hailey Bieber, Kris Jenner, Sheryl Sandberg, and Michael Rubin.
Phia combines artificial intelligence with fashion shopping to help users find the lowest prices, including second-hand options. Gates and Kianni, former Stanford roommates, also host The Burnouts podcast to share their entrepreneurial journey. With over 500,000 users and 5,000 brand partnerships, Phia grew from a dorm-room idea to a rapidly expanding startup focused on solving online shopping frustrations.