Total amount raised
$270.2 Million
Latest funding date
3/1/2025
Location
Turing has successfully raised funding over 12 rounds, with the latest being a Series E round involving multiple investors. The company is backed by a total of 99 investors, including prominent names like Gaingels, Sozo Ventures, and Khazanah Nasional.
Keep reading to explore the intricacies of Turing's fundraising journey and the investors backing this innovative platform.
What Is Turing?
Turing, based in Palo Alto, California, is a company that advances frontier AI and builds real-world systems for Fortune 500 companies, governments, and leading AI labs. The company operates in various sectors, including Artificial Intelligence, Generative AI, Information Technology, Machine Learning, and Software Engineering.
Founded with a mission to develop large-scale reinforcement learning environments and data generation systems, Turing collaborates with frontier labs and enterprises to bridge the gap between model training and real-world deployment. The company has a substantial employee base ranging from 1001 to 5000 employees.
How Much Funding Has Turing Raised?
- Series E
- Amount Raised: USD 111,000,000
- Date: March 2025
- Lead Investors: Khazanah Nasional
- Valuation at Round: USD 2.2 billion
- Motivation Behind the Round: To support R&D, sales, and marketing efforts for Turing's main business lines.
- Convertible Note
- Amount Raised: USD 6,850,000
- Date: December 2021
- Lead Investors: AltaIR Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for operational expansion and technological advancements.
- Series D
- Amount Raised: USD 87,000,000
- Date: October 2021
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up operations and enhance AI capabilities.
- Convertible Note
- Amount Raised: USD 135,000
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To cover short-term operational costs.
- Convertible Note
- Amount Raised: USD 5,000,000
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing projects and initiatives.
- Convertible Note
- Amount Raised: USD 6,200,000
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development.
- Series B
- Amount Raised: USD 32,000,000
- Date: September 2020
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and product offerings.
- Seed
- Amount Raised: USD 14,000,000
- Date: August 2020
- Lead Investors: Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and market entry.
- Convertible Note
- Amount Raised: USD 5,000,000
- Date: March 2020
- Lead Investors: Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure early-stage funding for product development.
- Angel
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
Total Amount Raised: USD 270,185,000. Current Valuation: USD 2.2 billion.
Key Investors
- Khazanah Nasional
- Details: Khazanah Nasional is Malaysia’s sovereign wealth fund, managing the commercial assets of the Malaysian government. It is a key player in the global investment landscape, focusing on long-term value creation.
- Investment Focus Areas: Technology, innovation, infrastructure.
- Notable Investments: Turing, Alibaba, Tencent.
- WestBridge Capital
- Details: WestBridge Capital is a venture capital firm that invests in technology and innovation-driven companies. It has a strong presence in both the U.S. and Indian markets.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Turing, Byju's, OYO Rooms.
- Sozo Ventures
- Details: Sozo Ventures is a venture capital firm that invests in technology companies with a focus on helping them expand into global markets. The firm is known for its strategic partnerships and deep industry connections.
- Investment Focus Areas: Technology, AI, enterprise software.
- Notable Investments: Turing, Square, Palantir.
- AltaIR Capital
- Details: AltaIR Capital is a venture capital firm that invests in early-stage technology startups. The firm has a diverse portfolio and a strong focus on innovation.
- Investment Focus Areas: Technology, fintech, AI.
- Notable Investments: Turing, Miro, Lemonade.
- Foundation Capital
- Details: Foundation Capital is a venture capital firm that supports early-stage startups. The firm has a history of backing companies that go on to become industry leaders.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Turing, Netflix, Uber.
What's Next for Turing?
Turing's future looks promising as it continues to advance its AI capabilities and expand its customer base. With a recent $111 million Series E funding round, the company is well-positioned to enhance its AGI advancements and build real-world AI systems for Fortune 500 companies. The opportunities are vast, with Turing working with 4 million coders globally and generating around $300 million in annualized revenue run rate.
Future fundraising opportunities seem likely given the company's rapid growth and high valuation. Turing's focus on expanding its use cases and customer base, along with its profitable status, makes it an attractive candidate for additional investment. However, the company may face challenges such as maintaining profitability while scaling and staying competitive in a rapidly evolving AI landscape.
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