Total amount raised
$28.5 Millions
Latest funding date
5/1/2023
Location
Predibase has successfully raised significant funding through multiple rounds, with its latest being a Series A. The platform specializes in fine-tuning and serving large language models (LLMs) for developers.
Keep reading to explore the intricacies of Predibase's fundraising journey and the investors backing this innovative platform.
What Is Predibase?
Predibase, founded in 2021, is based in San Francisco, California. The company was established by Devvret Rishi, Piero Molino, and Travis Addair.
Predibase focuses on delivering high-quality, fast-throughput small language models in the cloud. The platform is designed to make it easy for engineering teams to fine-tune and serve small open-source LLMs efficiently.
With a team size of 11-50 employees, Predibase leverages state-of-the-art infrastructure to provide a developer platform for productionizing open-source AI.
How Much Funding Has Predibase Raised?
- Series A
- Amount Raised: $16.3M
- Date: May 10, 2022
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission to deliver high-quality, cost-efficient AI solutions and expand its product offerings and market reach.
- Series A Extension
- Amount Raised: $12.2M
- Date: May 31, 2023
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Predibase's go-to-market functions and further develop its platform.
Total amount raised: $28.5M. Current valuation: Not publicly disclosed.
Key Investors
- Felicis
- Details: Felicis is a venture capital firm that invests in early-stage companies. They are known for their hands-on approach and strong network in the tech industry.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Shopify, Adyen, Plaid
- Greylock
- Details: Greylock is a prominent venture capital firm with a long history of investing in technology companies. They focus on partnering with entrepreneurs to build market-leading companies.
- Investment Focus Areas: Enterprise software, consumer internet, fintech
- Notable Investments: Facebook, LinkedIn, Airbnb
- Anthony Goldbloom
- Details: Anthony Goldbloom is an individual investor and the co-founder of Kaggle, a platform for predictive modeling and analytics competitions. He has a strong background in data science and AI.
- Investment Focus Areas: Technology, AI, data science
- Notable Investments: Not publicly disclosed
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc. They invest in startups across various stages and sectors, leveraging Google's resources and expertise.
- Investment Focus Areas: Life sciences, AI, robotics, cybersecurity
- Notable Investments: Uber, Slack, Nest
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm that has backed many successful technology companies. They focus on early and growth-stage investments.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, WhatsApp
What's Next for Predibase?
Predibase stands at the cusp of significant growth, driven by the increasing demand for low-code machine learning platforms. With its recent funding, the company is poised to expand its go-to-market functions and enhance its platform capabilities, catering to both novice and expert users. The platform's adoption by Fortune 500 companies and high-growth startups underscores its potential to become a major player in the AI industry.
Future fundraising opportunities seem promising as Predibase continues to innovate and attract a broader user base. However, the company will need to navigate challenges such as intense competition from established tech giants and the need to continuously update its platform to keep pace with rapid advancements in AI technology. Balancing the needs of diverse users while scaling the platform will be crucial for sustained success.
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