CoreWeave Secures $1.1 Billion in Series C

by Kay Aloha Villamor in May 2nd, 2024

CoreWeave, a Roseland, New Jersey-based specialized cloud provider for AI, has secured $1.1 billion in Series C funding. 


The round was led by Coatue, with participation from Magnetar, Altimeter Capital, Fidelity Management & Research Company, and Lykos Global Management. 

Coatue Management, founded in 1999 and based in New York, New York, is a private equity firm that prefers to invest through buyouts and growth capital in the technology, media, financial technology, climate technology, and telecommunications sectors. 

CoreWeave Use of Funds 

The company will use the funds to fuel its rapid growth across all business areas and expand into new geographic regions. With this funding, the company aims to further invest in and collaborate with the largest AI enterprises globally. 

About CoreWeave 

CoreWeave is a specialized GPU cloud provider designed to power the most complex workloads with customized solutions at scale. The company's portfolio of cutting-edge technology delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more. Its cloud infrastructure is engineered to cater to the needs of engineers and innovators, providing automation-driven solutions for optimal performance and efficiency in AI workloads. Trusted by leading AI labs and enterprises, CoreWeave operates a growing footprint of data centers covering every region of the US. It was founded in 2017 and is based in New Jersey. 

Funding Details 

Company: CoreWeave, Inc. 

Raised: $1.1B

Round: Series C 

Funding Month: May 2024 

Lead Investors: Coatue 

Additional Investors: Magnetar, Altimeter Capital, Fidelity Management & Research Company, Lykos Global Management 

Company Website: 

Software Category: Cloud Solutions 


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