Together AI’s Valuation Jumps To $3.3B After New Round
Together AI, a developer of a cloud platform to allow developers to build on open and custom artificial intelligence models, raised a $305 million funding round led by General Catalyst and Saudi Arabia’s Prosperity7 Ventures.
The new valuation is a more than 160% jump from The $1.25 billion it was valued at after Salesforce Ventures 1 led a $106 million round for Menlo Park, California-based startup last March.
More than a dozen other investors joined the round, including Salesforce Ventures, Nvidia, Kleiner Perkins, Coatue and others.
Together AI recently surpassed $100 million in annualized revenue, an increase from the $30 million in annualized revenue it had last February, per Bloomberg.
AI dollars
AI startups continue to raise big-money rounds as if ordering a sandwich at a deli.
Late last month, Anthropic, a ChatGPT rival with its AI assistant Claude, raised a $1 billion investment from previous investor Google.
In Q4 last year alone, investors poured more than $42 billion into AI-related startups, per Crunchbase data. That was nearly twice as much money invested in Q3 2024 — which was a record at the time. It also was about 3.5x the amount invested in Q4 2023.
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Related reading:
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- Databricks Raises $10B In 2024’s Largest Venture Funding Deal
- OpenAI Raises $6.6B At $157B Valuation
- xAI Makes It Official — Raises $6B At $24B Valuation
- Amazon Doubles Down Investment In Anthropic
- Jim Keller-Led Tenstorrent Raises Another $700M For AI Chips At $2B+ Valuation
- Eye On AI: AI’s Torrid Pace Of Funding Continues
- Startup Funding Regained Its Footing In 2024 As AI Became The Star Of The Show
Illustration: Dom Guzman
