- Run:ai recently announced it raised $75 million in funding. These are the details.
Run:ai – a company that is simplifying AI infrastructure orchestration and management – recently announced that it has raised $75 million in Series C funding led by Tiger Global Management and Insight Partners, who led the previous Series B round. This funding 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 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. And 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.
IDC is predicting global AI spending in 2022 will reach $433 billion, nearly a 20% annual increase. But AI infrastructure is complex to manage and scale. Companies see low hardware utilization, scheduling clashes, and a delayed pace of innovation — if they can build functioning AI infrastructure at all.
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 and 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.
KEY QUOTES:
“It may sound dramatic, but AI is really the next phase of humanity’s development. When we founded Run:ai, our vision was to build the de-facto foundational layer for running any AI workload. Our growth has been phenomenal, and this investment is a vote of confidence in our path. Run:ai is enabling organizations to orchestrate all stages of their AI work at scale, so companies can begin their AI journey and innovate faster.”
– Omri Geller, Run:ai CEO and co-founder
“We do for AI hardware what VMware and virtualization did for traditional computing — more efficiency, simpler management, greater user productivity. Traditional CPU computing has a rich software stack with many development tools for running applications at scale. AI, however, runs on dedicated hardware accelerators such as GPUs which have few tools to help with their implementation and scaling. With Run:ai Atlas, we’ve built a cloud-native software layer that abstracts AI hardware away from data scientists and ML engineers, letting Ops and IT simplify the delivery of compute resources for any AI workload and any AI project.”
– Ronen Dar, Run:ai CTO and co-founder
“As enterprises in every industry reimagine themselves to become learning systems powered by AI and human talent, there has been a global surge in demand for AI hardware chipsets such as GPUs. As the Forrester Wave AI Infrastructure report recently highlighted, Run:ai creates extraordinary value by bringing advanced virtualization and orchestration capabilities to AI chipsets, making training and inference systems run both much faster and more cost-effectively. Because of explosive demand since 2020, Run:ai has almost quadrupled its customer base, and we couldn’t be more excited to double down on our partnership with Omri and the incredible Run:AI team as they lean into their momentum and Scale Up.”
– Lonne Jaffe, Managing Director at Insight Partners
