Total amount raised
$20 Millions
Latest funding date
4/1/2022
Location
Baseten has successfully raised $75 million in a Series C funding round, backed by 01 Advisors and other notable investors. The platform specializes in deploying AI models in production, focusing on performance, security, and reliability.
Keep reading to explore the intricacies of Baseten's fundraising journey and the investors backing this innovative platform.
What Is Baseten?
Baseten, founded in 2019, is an AI infrastructure company based in San Francisco, California. The company was established by Amir Haghighat, Pankaj Gupta, Philip Howes, and Tuhin Srivastava.
Specializing in deploying AI models in production, Baseten offers a serverless backend for building machine-learning-powered applications. Their services include auto-scaling, GPU access, CRON jobs, and serverless functions.
With a team of 101-250 employees, Baseten aims to make machine learning accessible to all organizations, focusing on performance, security, and reliability.
How Much Funding Has Baseten Raised?
- Seed Round
- Amount Raised: $8M
- Date: April 2022
- Lead Investors: Greylock, South Park Commons
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: $12M
- Date: April 2022
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the product and expand the customer base.
- Series B
- Amount Raised: $40M
- Date: March 2024
- Lead Investors: IVP, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand into new markets.
- Series C
- Amount Raised: $75M
- Date: February 2025
- Lead Investors: IVP, Spark Capital
- Valuation at Round: $825M
- Motivation Behind the Round: To support product, team, and geographic expansion.
Total amount raised: $135M. Current valuation: $825M.
Key Investors
- IVP (Institutional Venture Partners)
- Details: IVP is a venture capital firm that focuses on later-stage investments. They have a strong track record of backing high-growth technology and media companies.
- Investment Focus Areas: Later-stage venture capital, growth equity, technology, media.
- Notable Investments: Slack, Twitter, Snap.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in early and growth-stage companies. They are known for their investments in transformative technology startups.
- Investment Focus Areas: Early-stage startups, technology, media, entertainment.
- Notable Investments: Twitter, Oculus, Slack.
- Greylock
- Details: Greylock is a venture capital firm that partners with entrepreneurs to build market-transforming companies. They have a history of investing in successful consumer and enterprise software companies.
- Investment Focus Areas: Early-stage venture capital, consumer software, enterprise software, social media, cloud computing.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- South Park Commons
- Details: South Park Commons is a community of technologists, builders, and investors. They focus on early-stage investments in technology startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not explicitly mentioned.
- 01 Advisors
- Details: 01 Advisors is a venture capital firm founded by former Twitter executives. They focus on scaling and growth-stage technology companies.
- Investment Focus Areas: Technology companies, scaling, growth stage.
- Notable Investments: Bird, Brex, Notion.
What's Next for Baseten?
Baseten stands at the cusp of significant growth opportunities, driven by the increasing demand for AI model deployment and inference services. With $75 million raised in Series C funding, the company is well-positioned to expand its product offerings, scale operations, and enter new markets. The AI industry’s shift towards cost-effective and efficient models presents a substantial opportunity for Baseten to attract clients seeking reliable and scalable AI solutions.
Future fundraising seems likely as Baseten continues to grow, potentially attracting more venture capital to support its expansion. However, the company faces challenges such as securing enough Nvidia GPUs and competing for top talent. Maintaining performance and reliability across multi-cloud environments will be crucial as Baseten scales its operations.
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