Fireworks AI raises $52M in Series B funding led by Sequoia Capital with participation from NVIDIA, AMD, and MongoDB
Jul 11, 2024•about 1 year ago
Amount Raised
$52 Million
Round Type
series b
Redwood CityMachine LearningArtificial IntelligenceSoftwareInvestors
Mongo DbAmdNvidiaSequoia Capital
Description
Fireworks AI, a Redwood City-based genAI inference platform provider, raised $52M in Series B Funding, with total capital raised to $77M. The round was led by Sequoia Capital, with participation from NVIDIA, AMD, and MongoDB. 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.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech