The company plans to use the new funds to expand its AI cloud business, including its on-demand and reserved cloud offerings. Founded in 2012, Lambda provides an AI compute platform that serves developers throughout the entire AI development lifecycle. The company's product portfolio ranges from on-prem GPU hardware to hosted GPUs in the cloud, and it currently serves over 5,000 customers across various sectors, including manufacturing, healthcare, pharmaceuticals, financial services, and the U.S. government.
Key takeaways:
- Lambda, a GPU cloud company, has raised $320M in a Series C funding round, reaching a valuation of over $1.5 Billion.
- The funding round was led by Thomas Tull’s US Innovative Technology and included new investors B Capital, SK Telecom, funds and accounts advised by T. Rowe Price Associates, Inc., and existing investors.
- The company plans to use the funds to expand its AI cloud business, including its on-demand and reserved cloud offerings.
- Lambda's AI Cloud has been adopted by companies and research institutions including Anyscale, Rakuten, The AI Institute, and multiple enterprises with over a trillion dollars of market capitalization.