Total amount raised
$415.1 Millions
Latest funding date
5/1/2024
Location
WEKA has successfully raised significant funding to support its high-performance data platform designed for AI innovation. The platform offers unmatched performance, scalability, and efficiency for AI and machine learning workloads.
Keep reading to explore the intricacies of WEKA's fundraising journey and the investors backing this innovative platform.
What Is WEKA?
WEKA, founded in 2013, is headquartered in Campbell, California. The company was established by Liran Zvibel, Omri Palmon, and Maor Ben Dayan.
WEKA specializes in providing high-performance data platforms designed to support AI innovation and cloud computing. Their platform is known for its exceptional performance, scalability, and efficiency, catering to various deployment options including data centers, public clouds, hybrid clouds, and GPU clouds.
With a dedicated team of over 100 employees, WEKA continues to push the boundaries of data management and AI capabilities, making significant strides in the tech industry.
How Much Funding Has WEKA Raised?
- Series A
- Amount Raised: $10.3M
- Date: January 2014
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundational technology and support initial product development.
- Series B
- Amount Raised: $25M
- Date: February 2016
- Lead Investors: Walden Riverwood Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series C
- Amount Raised: $31.7M
- Date: January 2019
- Lead Investors: Walden Riverwood Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $73.1M
- Date: August 2021
- Lead Investors: Hitachi Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and increase market penetration.
- Series D
- Amount Raised: $135M
- Date: November 2022
- Lead Investors: Generation Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support strategic partnerships.
- Series E
- Amount Raised: $140M
- Date: May 2024
- Lead Investors: Valor Equity Partners
- Valuation at Round: $1.6 billion
- Motivation Behind the Round: To scale the business, expand software development, and provide liquidity to employees.
Total Amount Raised: $415.1M. Current Valuation: $1.6 billion.
Key Investors
- Valor Equity Partners
- Details: An operational growth investment firm focused on high-growth companies across various stages of development. Antonio Gracias, the founder, CEO, and Chief Investment Officer, will join WEKA's board.
- Investment Focus Areas: High-growth companies, AI, technology.
- Notable Investments: Tesla, SpaceX, GoPuff.
- NVIDIA
- Details: A multinational technology company known for its graphics processing units (GPUs) and AI technologies. NVIDIA is a leader in AI computing and high-performance computing.
- Investment Focus Areas: AI, machine learning, high-performance computing.
- Notable Investments: Various AI startups and technology companies.
- Norwest Venture Partners
- Details: A global venture capital and growth equity investment firm. Norwest Venture Partners has a long history of investing in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, business services.
- Notable Investments: Uber, Spotify, BlueJeans.
- Generation Investment Management
- Details: An investment management firm focused on sustainable investing. Generation Investment Management aims to integrate sustainability into mainstream capital markets.
- Investment Focus Areas: Sustainable investments, growth companies, technology.
- Notable Investments: Various companies in sustainable technologies.
- Hitachi Ventures
- Details: The corporate venture capital arm of Hitachi. Hitachi Ventures invests in innovative startups that align with Hitachi's strategic goals.
- Investment Focus Areas: Technology, innovation, AI.
- Notable Investments: Various technology and innovation companies.
What's Next for WEKA?
WEKA stands at the cusp of significant opportunities, driven by the accelerating demand for AI-native data infrastructure. With a fresh $140 million investment, the company is poised to scale its business, enhance its data platform software, and meet the performance demands of advanced technologies like generative AI and high-performance GPUs. This growth is underscored by WEKA's valuation, now at $1.6 billion, and its deployment in over 300 of the world's largest AI and GPU environments.
Future fundraising seems promising, given the strong investor confidence and the oversubscribed Series E round. As WEKA continues to innovate and expand, it may attract further investments to support its rapid scaling and technological advancements. However, the company will need to navigate challenges such as maintaining its technological edge in a competitive market and managing the complexities of global expansion. Balancing rapid growth with sustainable practices will be crucial for WEKA's continued success.
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