Together AI, a startup that offers access to artificial intelligence computing, has successfully raised $305 million in a recent funding round led by General Catalyst. This investment has propelled the company’s valuation to an impressive $3.3 billion, indicating a strong demand for AI technologies in the corporate sector.
The funding round was co-led by Saudi Arabia’s Prosperity7 Ventures and included prominent investors such as Salesforce Ventures, Nvidia Corp., Kleiner Perkins, Emergence Capital, Lux Capital, and Coatue Management. Together AI’s platform provides developers with access to open source AI models and the necessary compute power to develop AI applications. CEO Vipul Ved Prakash highlighted the company’s comprehensive service offering, which includes data centers, computing clusters from Nvidia, software layers, and platform services, enabling customers to quickly deploy AI solutions.
As the corporate demand for AI continues to rise, Together AI has experienced rapid growth, surpassing $100 million in annualized revenue. This significant increase from $30 million in annualized revenue reported in February 2024 showcases the company’s momentum in the market. Customers can leverage over 200 open source models through Together AI’s platform, including Meta Platforms Inc.’s Llama and models from Chinese AI startup DeepSeek. Prakash emphasized the importance of open source AI models for innovation, stating that the technology should be developed transparently for the benefit of humanity.
Nvidia, an investor and partner of Together AI, has played a crucial role in supporting the startup’s growth. Together AI plans to deploy Nvidia’s Blackwell GPUs in its data centers to enhance its computational capabilities. The company’s latest valuation marks a significant leap from its $1.25 billion valuation in March 2024. With the new funding, Together AI aims to double its workforce of 160 employees by the end of 2025, further fueling its expansion and innovation in the AI space.
Overall, Together AI’s success in securing substantial funding and achieving remarkable growth underscores the ongoing demand for AI technologies in the corporate landscape. By providing developers with access to cutting-edge AI tools and resources, the company is well-positioned to continue driving innovation and making a meaningful impact in the AI industry.
