WekaIO (WEKA), an AI-native data platform company, announced it had raised $140 million in an oversubscribed Series E funding round comprised of a combined primary and secondary transaction led by Valor Equity Partners (a previous investor in the company). WEKA’s Series E funding round is unique in that it was raised entirely with existing investors like Valor seeking to increase their positions in the company. And Generation Investment Management, NVIDIA, Atreides Management, 10D, Hitachi Ventures, Ibex Investors, Key1 Capital, Lumir Ventures, MoreTech Ventures, and Qualcomm Ventures joined Valor in contributing to the round. Under the deal terms, Valor’s founder, CEO, and Chief Investment Officer, Antonio Gracias, will join WEKA’s board.
This funding round brings WEKA’s post-money valuation to $1.6 billion. And the funds will support the company’s considerable cash reserves, giving it ample options for how it can scale its business rapidly to meet accelerating global demand for AI-native data infrastructure while expanding its investments in developing its data platform software and providing liquidity to WEKA employees.
With 300+ of the world’s largest AI and GPU deployments running on the WEKA Data Platform, the funding comes at a time of unprecedented business growth as the company expands to meet significant global demand for modern data infrastructure that efficiently and sustainably addresses the scale and performance demands of advanced technologies like generative AI and high-performance GPUs.
WEKA started architecting a wholly new approach to the enterprise data stack in 2013, setting the standard for modern data infrastructure in the AI era. And WEKA’s software can be deployed anywhere, delivering unparalleled speed, simplicity, scale and sustainability for GPUs, AI and other performance-intensive workloads, helping customers to achieve faster insights, discoveries, breakthroughs, and business outcomes.
KEY QUOTES:
“The recent acceleration of generative AI and enterprise cloud adoption has triggered a sharp increase in customer demand, driving an unprecedented number of eight-figure ARR deals—an impressive feat when you factor in that WEKA is a software-based business. It was an opportune time to fortify our cash reserves, allowing our investors to increase their position in the company while minimizing share dilution for our employees.”
– Intekhab Nazeer, chief financial officer at WEKA
“The continued backing of this preeminent group of investors speaks volumes: WEKA is building something truly transformative that modern data-driven organizations need now, more than ever. We are grateful to our returning backers for their support and are honored to welcome Antonio Gracias to our board of directors. Antonio has played a pivotal role in helping build some of the world’s most innovative and disruptive companies. We look forward to collaborating with him as we scale to create new value for WEKA’s customers, partners, and shareholders.”
– WEKA cofounder and CEO Liran Zvibel
“WEKA pioneered the concept of a software, platform-based approach that is revolutionizing modern enterprise data, then forged and hardened its technology in some of the largest, most demanding AI projects on the planet. Valor has a long history in the development of artificial intelligence, beginning with our investment in DeepMind in 2013, and we believe WEKA is positioned to be an integral part of the acceleration of the technology going forward. Valor is proud to partner with WEKA to support the company through its next phase of growth and beyond.”
– Antonio Gracias, CEO and chief investment officer at Valor Equity Partners
