Run:ai, a Tel Aviv, Israel-based company simplifying AI infrastructure orchestration and management, announced that it raised $75 million in Series C round led by Tiger Global Management and Insight Partners, who led the previous Series B round.
The round includes the participation of additional existing investors, TLV Partners, and S Capital VC, bringing the total funding raised to date to $118 million.
The company plans to use the investment to further grow its global teams and will also be considering strategic acquisitions as it develops and enhances the company’s Atlas software platform.
Run:ai has grown sharply, with a 9x increase in Annual Recurring Revenue in the last year, while the company’s staff more than tripled over the same period.
Company: Runai Labs Ltd.
Raised: $75.0M
Round: Series C
Funding Month: March 2022
Lead Investors: Tiger Global Management and Insight Partners
Additional Investors: TLV Partners and S Capital VC
Company Website: https://www.run.ai/
Software Category: AI infrastructure orchestration and management
About the Company: Run:ai optimizes and orchestrates GPU compute resources for AI and Deep Learning workloads. Run:ai helps companies execute on their AI initiatives quickly, while keeping budgets under control, by virtualizing expensive hardware resources to pool, share and allocate resources efficiently. Run:ai aims to accelerate AI-driven innovation and help humanity solve the unsolved. Run:ai’s Atlas platform provides a ‘Foundation for AI Clouds’, whether on-premises, across public clouds, or at the edge, allowing organizations to have their AI resources on a single, unified platform that supports AI at all stages of development, from building and training models to running inference in production. Customers include Fortune 500 companies as well as cutting-edge AI startups from multiple verticals like finance, automotive, healthcare, and gaming, as well as leading academic AI research centers.
Source: https://www.run.ai/blog/run-ai-raises-75m-in-series-c-round