MemGPT
Letta (branded as MemGPT) is a San Francisco-based AI research lab that builds memory-native AI agents and a hosted developer platform, spun out of UC Berkeley's Sky Computing Lab and serving both enterprise customers and developers.
- Company typePrivate
- Founded2024
- HeadquartersSan Francisco, United States
- Headcount—
- GTM typeB2B
- OfferingSoftware
What MemGPT does
Letta (operating under the MemGPT research brand) is a San Francisco-based AI research lab and startup building AI agents with advanced, persistent memory systems. The company spun out of UC Berkeley's Sky Computing Lab — the same research group that produced Apache Spark and Ray — founded by the researchers behind the original MemGPT open-source project on virtual context management for large language models. Its core technology treats LLM context like an operating system, with proprietary innovations including sleeptime compute (splitting work between a real-time primary agent and an offline agent that manages memory using more powerful models such as GPT-4.1), memory-native reinforcement learning, git-based context repositories with programmatic versioning, strategic forgetting for privacy compliance, and a context constitution governing how agents learn from experience.
The company's commercial product portfolio includes Letta Agent (a self-improving AI agent whose memory, identity, and capabilities evolve with experience), Letta Cloud (a hosted platform for developers to build and deploy stateful AI agents), and the @letta-ai/letta-code npm SDK for programmatic integration. Revenue is generated through subscriptions on Letta Cloud, distributed via a product-led growth motion across self-serve developer channels (npm, GitHub, Discord) and direct enterprise access (Letta Agent). The customer base spans multiple verticals through featured case studies with Bilt (real estate), 11x (AI/technology), Kognitos (AI automation), and Hunt Club (recruiting).
The firm is self-described as a small team of researchers and engineers. It closed a $10 million seed round in August 2024 at a $70 million post-money valuation, led by Felicis Ventures with Sunflower Capital and Essence VC, and is backed individually by Jeff Dean, Clem Delangue, Cris Valenzuela, Jordan Tigani, Tristan Handy, Barry McCardel, and Robert Nishihara, with Ion Stoica and Joey Gonzalez as advisors. Specific pricing tiers and revenue figures are not publicly disclosed.
MemGPT firmographics
Firmographics- Name
- MemGPT
- Legal name
- Letta
- Website
- https://memgpt.ai
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Short description
- Letta (branded as MemGPT) is a San Francisco-based AI research lab that builds memory-native AI agents and a hosted developer platform, spun out of UC Berkeley's Sky Computing Lab and serving both enterprise customers and developers.
- Ownership category
- akta.pro rank
MemGPT industry classification
Industry- Product category
- AI Agent Platform
- NAICS
- Software Publishers (5132)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs) (HDAEANAJ)
- akta.pro secondary industry
- Responsible AI, Security & Privacy Platforms (Safety, Guardrails, PII) (HDAEANAG)
Keywords
Where MemGPT is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
MemGPT business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- Letta Cloud Platform: Hosted platform for developers to build and deploy stateful AI agents with advanced memory capabilities. Revenue generated through cloud platform subscriptions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Letta Cloud - hosted platform for building and deploying AI agents |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
MemGPT product offering
Product offeringCore offering
Letta (commercial entity behind MemGPT) develops AI agents with advanced persistent memory systems that enable stateful, self-improving interactions across long conversations. Its core commercial offerings are Letta Agent, a self-improving AI agent whose memory, identity, and capabilities evolve with experience, and Letta Cloud, a hosted platform for developers to build and deploy these stateful agents. The underlying technology originates from the MemGPT open-source project on virtual context management, created at UC Berkeley's Sky Computing Lab.
Product overview
Letta is an AI research lab building machines that learn, with a platform-plus-products architecture. The core offering is Letta Agent, a self-improving AI agent with evolving memory, identity, and capabilities. Letta Cloud provides the hosted deployment platform for developers. The @letta-ai/letta-code npm package enables programmatic integration. MemGPT, the original open-source project on virtual context management from UC Berkeley's Sky Computing Lab, serves as the foundational research underlying all Letta commercial products.
Differentiator
Problem solved
Functional benefit
Products and services
- Letta Agent A self-improving AI agent whose memory, identity, and capabilities evolve with experience. It enables stateful interactions with advanced memory systems that remember everything, learn continuously, and improve over time. Targeted at enterprise customers; featured case studies include Bilt, 11x, Kognitos, and Hunt Club.
- Letta Cloud A hosted platform for developers to build and deploy stateful AI agents with advanced memory capabilities. Operates on a monthly subscription billing cadence and is part of the company's primary recurring revenue stream.
- @letta-ai/letta-code An npm-distributed developer tool/SDK that enables programmatic integration with and interaction with Letta's AI agent platform. Targeted at individual developers and engineering teams building on top of Letta Cloud.
Quantifiable outcome
- 66.9% accuracy with Mem0 vs 68.5% with graph-enhanced variant in AI memory benchmark comparisons
Companies that use MemGPT
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
MemGPT technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature5 records
MemGPT partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- UC Berkeley Sky Computing LabcoreBirthplace of Letta; the team originated from this research lab which also created Spark and Ray. Letta is a spinout from this institution.
Scale indicators2 records
Recent moves7 records
Expansion highlights6 records
MemGPT competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
MemGPT social profiles
Digital presenceMemGPT financial estimates
Financial estimateRevenue estimate
Valuation estimate
MemGPT leadership team
Management profileNumber of profiles
Profiles2 records
MemGPT funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MemGPT M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MemGPT
What does MemGPT do?
Letta (commercial entity behind MemGPT) develops AI agents with advanced persistent memory systems that enable stateful, self-improving interactions across long conversations. Its core commercial offerings are Letta Agent, a self-improving AI agent whose memory, identity, and capabilities evolve with experience, and Letta Cloud, a hosted platform for developers to build and deploy these stateful agents. The underlying technology originates from the MemGPT open-source project on virtual context management, created at UC Berkeley's Sky Computing Lab.
Is MemGPT a public or private company?
MemGPT is a private company. It is classified as venture growth investor backed and is currently operating.
When was MemGPT founded?
MemGPT was founded in 2024.
Where is MemGPT based?
MemGPT is headquartered in San Francisco, United States, in the North America region.
How does MemGPT make money?
One revenue line is on record: letta Cloud Platform.
Does MemGPT have an API?
No public API is recorded for MemGPT.
What industry is MemGPT in?
MemGPT's product category is AI Agent Platform. Its primary akta.pro industry code is HDAEANAJ, AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs), with a secondary code of HDAEANAG, Responsible AI, Security & Privacy Platforms (Safety, Guardrails, PII). Its NAICS code is 5132 and its SIC code is 7372.