Fireworks AI, a Redwood City-based genAI inference platform provider, raised $52M in Series B Funding, valued at $552M.
The round, which brought the total capital raised to $77M, was led by Sequoia Capital, with participation from NVIDIA, AMD, and MongoDB. Previous investors include Benchmark, Databricks Ventures, former Snowflake CEO Frank Slootman, former Meta COO Sheryl Sandberg, Airtable CEO Howie Liu, Scale AI CEO Alexandr Wang, as well as executives from LinkedIn, Confluent, Meta, and OnePassword.
The company intends to use the funds to expand the team, and enhance its platform, enabling developers to quickly move AI applications from prototype to production.
Led by CEO Lin Qiao, Fireworks AI provides an inference engine to build production-ready, compound AI systems. Using minimal human-curated data, ultra-fast LoRA fine-tuning allows developers to quickly customize models to their specific needs, transitioning from dataset preparation to querying a fine-tuned model in minutes. These models are deployed, maintaining the same performance and cost benefits as its base models. Since its inception, the company has empowered developers with effective inference for popular models. Today, the company serves over 100 state-of-the-art models in text, image, audio, embedding, and multimodal formats, optimized for latency, throughput, and cost per token.
Developers at AI startups like Cresta, Cursor, and Liner, as well as digital-native giants like DoorDash, Quora, and Upwork, use Fireworks AI for its specialized models.
FinSMEs
11/07/2024