Turing, which is one of the world’s fastest-growing AGI infrastructure companies, announced that it has secured $111 million in committed capital for its Series E financing at a valuation of $2.2 billion. And Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, led the round with participation from WestBridge Capital, Sozo Ventures, UpHonest Capital, AltaIR Capital, Amino Capital, Plug and Play, MVP Ventures, Fortius Ventures, Gaingels, and Mastodon Capital Management.
This oversubscribed round brings Turing’s total funding to $225 million since being founded in 2018. The funding round was priced when the company reached $167 million in annualized revenue run rate (ARR).
This new funding round will support R&D, sales and marketing efforts for Turing’s two main business lines that work in tandem to accelerate company growth: Turing AGI Advancement, which empowers the world’s leading AI labs to advance frontier model capabilities in thinking, reasoning, coding, agentic behavior, multimodality, STEM and frontier knowledge; and Turing Intelligence, which utilizes learnings from advancing frontier AGI to build real-world AI systems and applications that solve mission-critical priorities for Fortune 500 companies.
The company’s work is a foundational input to AGI improving models while simultaneously benefiting from the AGI ecosystem output at the application layer as models continuously improve. And driving this growth is Turing’s AI-powered vetting and matching engine and its fine-tuning platform ALAN, which accelerates workflows for model evaluations, finetuning, reinforcement learning, and agent development.
As AI labs race to develop the smartest and most productive models, the demand for specialized data has never been greater, while falling inference costs and advances in price-performance will make AI more accessible than ever. And this dual shift is accelerating both the need for Turing AGI Advancement to advance frontier models and for Turing Intelligence to help businesses deploy these breakthroughs at scale. By advancing AI capabilities and turning them into real-world solutions, Turing is uniquely positioned to lead in the AGI era.
KEY QUOTE:
“At Turing, our goal is to accelerate AGI advancement and deployment to build powerful AI systems with real world impact. With a mission to unleash the world’s untapped human potential, we’ve built a suite of products on top of the world’s largest talent cloud to improve AI models and build applications on top of them.” Siddharth continued, “Using AI for vetting talent has helped us grow the platform quickly to more than four million of the world’s most talented software engineers, data scientists, and STEM experts. Our Series E round underscores the confidence our investors have in our ambitious goal and the key role we play in fueling AI progress.”
- Jonathan Siddharth, Turing’s Founder and Chief Executive Officer
