Fireworks AI, a Redwood City, CA-based production AI platform helping developers build new AI solutions, raised $25M in Series A funding.
The round was led by Benchmark with general partner Eric Vishria who will be joining the company’s board, with participation from Sequoia Capital, and angel investors including Databricks ventures, former Snowflake CEO Frank Slootman, Scale AI CEO Alexandr Wang, and executives from LinkedIn, Confluent, Meta, and OnePassword, among others.
The company intends to use the funds to expand operations, the business reach, and its development efforts.
Led by CEO Lin Qiao, Fireworks provides a GenAI Platform that enables developers to run, fine-tune, and share large language models (LLMs) to best solve product problems. Instead of companies developing their own generative AI solution, the company provides machine performance for latency-optimized and throughput-optimized settings, while minimizing cost to serve.
Right now, Fireworks AI is used by over 12,000 developers currently serving over 25+ billion tokens daily, and is constantly innovating. They just announced FireFunction-v1, an open-weights model based on Mixtral, and built to enhance the function calling model enabling developers to incorporate external knowledge in their LLM applications. They also built FireLLaVA, a LLaVA multi-modality model with a commercially permissive license and FireAttention, a custom CUDA kernel, optimized for multi-query attention models.
The company serves such customers as Tome, Poe, and Sourcegraph, among others.
The founding team also includes Dmytro Dzhulgakov, Dmytro Ivchenko, James Reed, Chenyu Zhao, Pawel Garbacki, and Benny Chen.
FinSMEs
27/03/2024