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OpenPipe raises $6.7M in a seed round led by Costanoa Ventures to reduce costs for LLM models.

Mar 26, 2024over 1 year ago

Amount Raised

$6.7 Million

Round Type

seed

SeattleSoftwareLanguage Learning

Investors

Tom Preston WernerAlex GraveleyLogan KilpatrickY CombinatorCostanoa Ventures

Description

OpenPipe, a Seattle startup, announced a $6.7 million seed round led by Costanoa Ventures, with participation from Y Combinator and individual backers such as Logan Kilpatrick, Alex Graveley, and Tom Preston-Werner. The funding will support OpenPipe's efforts to help companies reduce costs for large language models and expand its platform for tailored LLM models.

Company Information

Company

OpenPipe

Location

Seattle, Washington, United States

About

OpenPipe is a Seattle startup that specializes in simplifying and reducing the cost of training and deploying large language models for companies. Their platform allows developers to create tailored LLM models for specific use cases, with a focus on performance and cost-effectiveness.

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Funding Insights

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VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers