Total amount raised
$1.3 Billion
Latest funding date
08/01/2023
Location
Title
Weights & Biases has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a suite of tools designed to streamline the development and deployment of AI applications and models.
Keep reading to explore the intricacies of Weights & Biases' fundraising journey and the investors backing this innovative platform.
What Is Weights & Biases?
Weights & Biases (W&B) is an AI developer platform designed to help build AI applications and models with confidence. Founded in 2018, the company is headquartered in San Francisco, California.
The platform provides tools for developing, tracking, and managing machine learning experiments and models. It offers features like experiment tracking, model registry, dataset versioning, and interactive data visualization.
W&B was founded by Lukas Biewald, Chris Van Pelt, and Shawn Lewis. The company has grown to employ over 100 people, making significant strides in the AI development space.
How Much Funding Has Weights & Biases Raised?
- Strategic Round (Latest)
- Amount Raised: $50 million
- Date: August 9, 2023
- Lead Investors: Nat Friedman and Daniel Gross
- Valuation at Round: $1.25 billion
- Motivation Behind the Round: To support the launch of Prompts, a new product for monitoring and evaluating large language models (LLMs).
- Series C Round
- Amount Raised: $135 million
Total Amount Raised: $250 million. Current Valuation: $1.25 billion.
Key Investors
- Nat Friedman
- Details: Nat Friedman is the former CEO of GitHub, a leading platform for software development and version control. He has a strong background in technology and entrepreneurship.
- Investment Focus Areas: Technology, software, AI
- Notable Investments: GitHub, OpenAI
- Daniel Gross
- Details: Daniel Gross is a former partner at Y Combinator, a renowned startup accelerator. He is known for his expertise in AI and machine learning.
- Investment Focus Areas: AI, machine learning, technology startups
- Notable Investments: GitHub, OpenAI
- Coatue
- Details: Coatue is a global technology-focused investment firm that manages both public and private equity funds. They are known for their deep expertise in the tech sector.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap, DoorDash, ByteDance
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in high-growth technology and software companies. They have a strong track record of successful investments.
- Investment Focus Areas: Software, internet businesses, technology
- Notable Investments: Twitter, Shopify, Wix
- Felicis
- Details: Felicis is a venture capital firm that invests in early-stage companies across various sectors. They are known for their hands-on approach and support for their portfolio companies.
- Investment Focus Areas: Early-stage technology, AI, software
- Notable Investments: Plaid, Canva, Flexport
What's Next for Weights & Biases?
With the launch of Prompts, Weights & Biases is poised to capitalize on the burgeoning MLOps market, estimated to be worth $23.1 billion by 2023. This new product aims to help users monitor and evaluate large language models, opening doors to expand their customer base among high-profile AI developers.
Given their recent $50 million investment, future fundraising opportunities seem promising as they continue to innovate and grow. However, challenges lie ahead, including competition from established platforms like Azure and AWS, and ensuring Prompts meets the evolving needs of its users.
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