Foundry raised $80M in seed and Series A funding co-led by Sequoia Capital and Lightspeed Venture Partners to build a new breed of public cloud for AI/ML workloads.
Mar 21, 2024•over 1 year ago
Amount Raised
$80 Million
Round Type
series a
Palo AltoInformation TechnologyInvestors
NeaConvictionMicrosoft Ventures (M12)RedpointLightspeed Venture PartnersSequoia Capital
Description
Foundry announced $80 million in seed and Series A funding co-led by Sequoia Capital and Lightspeed Venture Partners, with participation from Redpoint, Microsoft Ventures (M12), Conviction, NEA, and other leading technical and commercial minds from the industry. The funding will be used to expand its operations, improve product offerings, and establish more strategic partnerships.
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