Baseten, a San Francisco, CA-based AI infrastructure company, secured $40 million in Series B funding.
SaaS Investors
The funding round was led by prominent venture capital firms IVP and Spark Capital, with participation from existing investors Greylock, South Park Commons, Lachy Groom, and Base Case.
Founded in 1980, IVP is a venture capital firm based in Menlo Park, California with additional offices in London and San Francisco. The firm prefers to invest in the media, insurance, software, cloud, manufacturing, industrials, cybersecurity, consumer, enterprise, and SaaS sectors.
Spark Capital is a venture capital firm based in Boston, Massachusetts. Founded in 2005, the firm prefers to invest in consumer, commerce, FinTech, software, frontier, and media sectors.
Baseten Use of Funds
The company intends to utilize the funds raised to expand its operations and further develop its platform.
About Baseten
Founded in 2019, Baseten specializes in providing a platform for running machine learning workloads in users' cloud environments. Their platform offers native workflows designed to handle large models in production, eliminating the need for users to manage versioning, roll-out processes, and observability concerns. Notable companies such as Descript, Picnic Health, Writer, Patreon, Loop, and Robust Intelligence rely on Baseten to power their core machine-learning workloads.
Funding Details
Company: BaseTen Labs, Inc.
Raised: $40.0M
Round: Series B
Funding Month: March 2024
Lead Investors: IVP and Spark Capital
Additional Investors: Greylock, South Park Commons, Lachy Groom, and Base Case
Company Website: https://www.baseten.co/
Software Category: MLOps platform
Source: https://www.finsmes.com/2024/03/baseten-raises-40m-in-series-b-funding.html