Together Computer Inc. is expected to raise more than $100 million in funding with a round led by Salesforce Ventures, with participation from the hedge fund, Coatue Management, according to a report in The Information.
This latest funding round would give the two-year-old Menlo Park-based cloud company a valuation of $1 billion.
Together AI (DBA Together AI) was founded in June 2022 by CEO Vipul Ved Prakash, Ce Zhang, Percy Liang and Chris Re as an open-source cloud-based platform for developers looking to build open and customizable artificial intelligence (AI) large language models and products.
At the heart of its business model is reselling access to Nvidia GPUs and therefore providing a less expensive way for customers to have access to the computing power needed to create and work with AI models.
According to The Information, "Demand for GPUs helped Together grow its revenue quickly in recent months. The startup is generating more than $30 million in annualized revenue, according to the people with direct knowledge, up from around $20 million in annualized revenue as of October."
The investment comes just months after it received more than $102 million Series A investment from the Lagos, Nigeria-based Emergence Capital, as well as Nvidia Corp., and Kleiner Perkins.
"Open-source AI provides a strong foundation for these applications with increasingly powerful generative models being released almost weekly," Prakash said in a blog post at the time. "The Together AI platform allows developers to quickly and easily integrate leading open-source models or create their own models through pre-training or fine-tuning."
