Total amount raised
$13.4 Billions
Latest funding date
Location
CoreWeave has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in providing GPU cloud services tailored for AI and machine learning workloads.
Keep reading to explore the intricacies of CoreWeave's fundraising journey and the investors backing this innovative platform.
What Is CoreWeave?
CoreWeave, founded in 2017, is a cloud-based AI infrastructure company located in Livingston, New Jersey. The company specializes in providing GPU cloud services to simplify AI and machine learning workloads.
CoreWeave was established by Brannin McBee, Brian Venturo, and Michael Intrator. Their platform offers high-performance, scalable, and secure cloud infrastructure, trusted by leading AI labs and enterprises.
With a workforce of 501-1000 employees, CoreWeave continues to innovate in the field of GPU cloud computing, helping clients efficiently scale and adapt to changing compute requirements.
How Much Funding Has CoreWeave Raised?
- Round Name: Seed Round
- Amount Raised: $3M
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and attract early customers.
- Round Name: Seed Round
- Amount Raised: $1.2M
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and expand the team.
- Round Name: Series A
- Amount Raised: $2.5M
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance cloud infrastructure.
- Round Name: Convertible Note
- Amount Raised: $50M
- Date: November 2021
- Lead Investors: Magnetar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and prepare for future funding rounds.
- Round Name: Debt Financing
- Amount Raised: $100M
- Date: December 2022
- Lead Investors: Magnetar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand data center capacity and enhance service offerings.
- Round Name: Series B
- Amount Raised: $221M
- Date: April 2023
- Lead Investors: Magnetar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Round Name: Series B
- Amount Raised: $200M
- Date: May 2023
- Lead Investors: Magnetar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological capabilities.
- Round Name: Debt Financing
- Amount Raised: $2.3B
- Date: August 2023
- Lead Investors: Blackstone Group, Magnetar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support large-scale infrastructure projects and meet growing demand.
- Round Name: Secondary Market
- Amount Raised: $642M
- Date: December 2023
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Round Name: Series C
- Amount Raised: $1.1B
- Date: May 2024
- Lead Investors: Coatue
- Valuation at Round: $19B
- Motivation Behind the Round: To expand global operations and invest in R&D.
- Round Name: Debt Financing
- Amount Raised: $7.5B
- Date: May 2024
- Lead Investors: Blackstone Group, Magnetar Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund large-scale infrastructure and technology advancements.
- Round Name: Debt Financing
- Amount Raised: $650M
- Date: October 2024
- Lead Investors: Goldman Sachs, JP Morgan Chase, Morgan Stanley
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and future growth initiatives.
- Round Name: Secondary Market
- Amount Raised: $650M
- Date: November 2024
- Lead Investors: Fidelity, Jane Street Capital, Macquarie Capital, Magnetar Capital
- Valuation at Round: $23B
- Motivation Behind the Round: To provide liquidity and prepare for an IPO.
- Round Name: Venture Round
- Amount Raised: $10M
- Date: March 2025
- Lead Investors: Stack Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
- Round Name: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to stakeholders.
CoreWeave has raised a total of $13.43B with a current valuation of $23B.
Key Investors
- Magnetar Capital
- Details: Magnetar Capital is a hedge fund that employs a multi-strategy investment approach. Founded in 2005, it is known for its expertise in event-driven, fixed income, and energy investments.
- Investment Focus Areas: Event-driven strategies, fixed income, energy
- Notable Investments: Energy, healthcare, financial services
- Fidelity
- Details: Fidelity is a global asset management firm that offers a wide range of financial services, including mutual funds, retirement planning, and wealth management. It is one of the largest asset managers in the world.
- Investment Focus Areas: Equities, fixed income, alternative investments
- Notable Investments: Technology, healthcare, consumer goods
- Blackstone Group
- Details: Blackstone Group is a leading global investment firm specializing in private equity, real estate, and credit. Founded in 1985, it manages over $600 billion in assets.
- Investment Focus Areas: Private equity, real estate, credit
- Notable Investments: Hilton Worldwide, Refinitiv, Bumble
- Coatue
- Details: Coatue is a global investment manager focused on technology, media, and telecommunications. Founded in 1999, it manages both public and private equity funds.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap, DoorDash, ByteDance
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. Founded in 1869, it provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Investment banking, securities, investment management
- Notable Investments: Uber, Spotify, WeWork
What's Next for CoreWeave?
CoreWeave is poised to capitalize on the booming AI industry, with plans for a U.S. IPO in 2025 targeting a valuation of over $35 billion. The company recently completed a $650 million secondary share sale, reflecting strong investor interest in generative AI and cloud infrastructure.
As CoreWeave prepares for its IPO, it aims to raise more than $3 billion, leveraging the growing demand for AI workloads and data center services. However, the company faces challenges such as market volatility and competition from established cloud providers like Microsoft Azure and Amazon AWS.
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