Lambda, a San Jose, CA-based GPU cloud company powered by NVIDIA GPUs, has raised $320 million in Series C funding.
SaaS Investors
The round was led by Thomas Tull’s US Innovative Technology, with participation from new investors B Capital, SK Telecom, T. Rowe Price Associates, Inc., and existing investors Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, among others.
U.S. Innovative Technology (USIT) is an investment firm that backs early- and growth-stage technology companies with dual-use applications to the commercial sector and defense industry, including, defense-tech, artificial intelligence, logistics, space, tech bio, and the future of computing.
Lambda Use of Funds
The company will use the funding to fuel its mission to expand its AI cloud business, including its popular on-demand and reserved cloud offerings.
About Lambda
Founded in 2012, Lambda is a deep-learning infrastructure company that provides computation to accelerate human progress. Its goal is to become the #1 AI compute platform serving developers across the entire AI development lifecycle. They enable AI engineers to easily, securely, and affordably build, test, and deploy AI products at scale. Lambda serves over 100,000 customers and provides access to the latest architectures for AI training, fine-tuning, and inferencing. Its hardware and private cloud business serves over 5,000 customers across various industries, including manufacturing, healthcare, pharmaceuticals, financial services, and the U.S. government. Lambda’s mission is to create a world where access to computation is as effortless and ubiquitous as electricity.
Funding Details
Company: Lambda, Inc.
Raised: $320.0M
Round: Series C
Funding Month: February 2024
Lead Investors: Thomas Tull’s US Innovative Technology
Additional Investors: B Capital, SK Telecom, T. Rowe Price Associates, Inc., Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures
Company Website: https://lambdalabs.com/
Software Category: AI Compute
Source: https://www.businesswire.com/news/home/20240215216669/en/