Total amount raised
$270.2 Millions
Latest funding date
Location
Title
Turing has successfully raised significant funding over multiple rounds, achieving a valuation of $2.2 billion. The company leverages advanced AI and expert human data to build smarter AI systems, train and fine-tune LLMs, and develop enterprise-ready GenAI applications.
Keep reading to explore the intricacies of Turing's fundraising journey and the investors backing this innovative platform.
What Is Turing?
Founded in 2018 by Jonathan Siddharth and Vijay Krishnan, Turing is headquartered in Palo Alto, California. The company leverages advanced AI and expert human data to help businesses build smarter AI systems, train LLMs, and develop enterprise-ready GenAI applications.
Turing's platform automates the sourcing, vetting, and matching of developers with organizations based on technical skills and project requirements. This enables companies to efficiently scale their engineering teams and streamline the hiring, onboarding, and management processes for remote developers.
With a workforce of 501-1000 employees, Turing continues to bridge cutting-edge AGI research with practical deployment, focusing on AI reasoning, problem-solving, and coding capabilities.
How Much Funding Has Turing Raised?
- Seed Round
- Amount Raised: $14M
- Date: August 2020
- Lead Investors: Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and market entry.
- Series B
- Amount Raised: $32M
- Date: September 2020
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Convertible Note
- Amount Raised: $5M
- Date: March 2020
- Lead Investors: Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional working capital.
- Convertible Note
- Amount Raised: $6.2M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and market expansion.
- Convertible Note
- Amount Raised: $5M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance R&D capabilities.
- Convertible Note
- Amount Raised: $135K
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To cover operational expenses.
- Series D
- Amount Raised: $87M
- Date: October 2021
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Convertible Note
- Amount Raised: $6.9M
- Date: December 2021
- Lead Investors: AltaIR Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and initiatives.
- Series E
- Amount Raised: $111M
- Date: March 2025
- Lead Investors: Khazanah Nasional
- Valuation at Round: $2.2B
- Motivation Behind the Round: To expand business operations and broaden use cases.
Total Amount Raised: $267.235M. Current Valuation: $2.2B.
Key Investors
- Khazanah Nasional Berhad
- Details: Khazanah Nasional Berhad is the sovereign wealth fund of Malaysia, managing the commercial assets of the government. It focuses on strategic investments to deliver sustainable economic and social benefits.
- Investment Focus Areas: Technology, infrastructure, healthcare, financial services.
- Notable Investments: Alibaba Group, Tencent, Grab.
- WestBridge Capital
- Details: WestBridge Capital is a venture capital firm that invests in growth-stage companies. It was co-founded by Sumir Chadha and focuses on long-term investments.
- Investment Focus Areas: Technology, healthcare, financial services, consumer goods.
- Notable Investments: Turing, Byju's, OYO Rooms.
- Sozo Ventures
- Details: Sozo Ventures is a venture capital firm that helps technology companies expand into global markets. It focuses on companies with innovative solutions and high growth potential.
- Investment Focus Areas: Technology, healthcare, enterprise software, consumer internet.
- Notable Investments: Twitter, Square, Palantir Technologies.
- AltaIR Capital
- Details: AltaIR Capital is a venture capital firm that invests in technology startups across various stages. It aims to support innovative companies with strong growth potential.
- Investment Focus Areas: Fintech, AI, SaaS, e-commerce.
- Notable Investments: Miro, Lemonade, Hippo Insurance.
- Gaingels
- Details: Gaingels is a network of investors that focuses on supporting and funding companies with diverse leadership. It aims to promote diversity and inclusion in the startup ecosystem.
- Investment Focus Areas: Diversity and inclusion, technology, healthcare, consumer goods.
- Notable Investments: Carta, MasterClass, Impossible Foods.
What's Next for Turing?
Turing's future is brimming with opportunities, particularly in advancing AGI capabilities and applying these advancements to real-world applications for Fortune 500 companies. The company is poised to expand its customer base and broaden its use cases, leveraging its AI-powered vetting and matching engine and fine-tuning platform, ALAN. With a $111 million Series E funding round and a valuation of $2.2 billion, the potential for growth is substantial.
Future fundraising opportunities seem promising, given the company's rapid growth and profitability. However, Turing will need to navigate challenges such as maintaining its technological edge and scaling its solutions to meet the diverse needs of large enterprises. Staying competitive in a fast-evolving AI landscape will be crucial for continued success.
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