Weka secured $140 million in a Series E round — raised through both primary and secondary transactions — valuing the data platform at $1.6 billion.
This new valuation more than doubles the company's worth from its $135 million Series D led by Generation Investment Management in late 2022, when it was valued at $750 million. The latest round was led by Valor Equity Partners.
Weka enhances data transfer efficiency across various sources, essential for AI project development, and can handle a wide range of data types and sizes.
“The surge in generative AI and enterprise cloud adoption has significantly increased customer demand, leading to a remarkable number of eight-figure ARR deals, an impressive achievement given Weka's software-based model,” said Weka CFO Intekhab Nazeer. “This was an ideal time to bolster our cash reserves, allowing investors to expand their stake while minimizing share dilution for our employees.”
Founded in 2013, Weka has raised $375 million to date, according to Crunchbase.
Building AI Infrastructure
While many focus on new AI tools for tasks like email generation or voice mimicking, investors are interested in the underlying architecture enabling these technologies.
In February, Lambda achieved unicorn status with a $320 million Series C at a $1.5 billion valuation. The company provides cloud computing services and hardware for AI software training and is a key supplier of Nvidia’s latest GPUs, in high demand among AI developers.
Earlier this month, AI cloud infrastructure startup CoreWeave secured $1.1 billion in a round led by Coatue, valuing the company at $19 billion, according to The Wall Street Journal. This valuation is nearly three times its worth five months ago, following a secondary sale that valued it at $7 billion, and a significant jump from its $2 billion valuation in a Series B extension last May.
This new valuation more than doubles the company's worth from its $135 million Series D led by Generation Investment Management in late 2022, when it was valued at $750 million. The latest round was led by Valor Equity Partners.
Weka enhances data transfer efficiency across various sources, essential for AI project development, and can handle a wide range of data types and sizes.
“The surge in generative AI and enterprise cloud adoption has significantly increased customer demand, leading to a remarkable number of eight-figure ARR deals, an impressive achievement given Weka's software-based model,” said Weka CFO Intekhab Nazeer. “This was an ideal time to bolster our cash reserves, allowing investors to expand their stake while minimizing share dilution for our employees.”
Founded in 2013, Weka has raised $375 million to date, according to Crunchbase.
Building AI Infrastructure
While many focus on new AI tools for tasks like email generation or voice mimicking, investors are interested in the underlying architecture enabling these technologies.
In February, Lambda achieved unicorn status with a $320 million Series C at a $1.5 billion valuation. The company provides cloud computing services and hardware for AI software training and is a key supplier of Nvidia’s latest GPUs, in high demand among AI developers.
Earlier this month, AI cloud infrastructure startup CoreWeave secured $1.1 billion in a round led by Coatue, valuing the company at $19 billion, according to The Wall Street Journal. This valuation is nearly three times its worth five months ago, following a secondary sale that valued it at $7 billion, and a significant jump from its $2 billion valuation in a Series B extension last May.