OctoML, a Seattle-based startup that helps enterprises optimize and deploy their machine learning models, announced that it raised an $85 million Series C round led by Tiger Global Management.
Previous investors Addition, Madrona Venture Group and Amplify Partners also participated in this round, which brings the company’s total funding to $132 million, including a $28 million Series B round it announced earlier this year.
The company plans to use the new funding to quickly expand its team across various engineering and sales functions to take advantage of this opportunity as it brings on new customers. OctoML also plans to build out its partner ecosystem.
Company: OctoML Inc.
Raised: $85.0M
Round: Series C
Funding Month: November 2021
Lead Investors: Tiger Global Management
Additional Investors: Madrona Venture Group and Amplify Partners
Company Website: https://octoml.ai/
Software Category: Acceleration platform
About the Company: OctoML was founded by creators of open-source Apache TVM Luis Ceze, Tianqi Chen, Jason Knight, Jared Roesch, and Thierry Moreau. OctoML is a startup that offers an acceleration platform that helps engineering teams deploy machine learning models on any hardware, cloud provider, or edge device quickly. The platform, Octomizer, is built on top of the open-source Apache TVM compiler framework project. It supports a wide variety of machine learning frameworks like PyTorch, TensorFlow, and ONNX serialized models as well as hardware backends like NVIDIA/CUDA, x86, AMD, ARM, Intel, MIPS, and more. It changes how developers optimize and deploy machine learning models for their AI needs.
Source: https://techcrunch.com/2021/11/01/octoml-raises-85m-for-it-for-its-machine-learning-acceleration-platform/