Total amount raised
$1.3 Billion
Latest funding date
8/1/2023
Location
Weights & Biases has successfully raised significant funding over multiple rounds, culminating in a valuation of $1.7 billion at the time of its acquisition by CoreWeave. The platform offers a suite of tools designed to streamline machine learning workflows, making it a go-to resource for AI developers.
Keep reading to explore the intricacies of Weights & Biases' fundraising journey and the investors backing this innovative platform.
What Is Weights & Biases?
Founded in July 2017, Weights & Biases is based in San Francisco, California. The company was established by Chris Van Pelt, Lukas Biewald, and Shawn Lewis.
Weights & Biases offers a developer-first MLOps platform that builds machine learning performance visualization tools. It helps companies turn deep learning research projects into deployed software by tracking models, visualizing performance, and automating training.
With a team of 251-500 employees, Weights & Biases is trusted by leading AI teams worldwide to streamline their machine learning workflows.
How Much Funding Has Weights & Biases Raised?
- Series A
- Amount Raised: $5M
- Date: May 2018
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their MLOps platform and attract early adopters.
- Series B
- Amount Raised: $15M
- Date: May 2019
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the team to support growing user demand.
- Series B
- Amount Raised: $45M
- Date: February 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support the increasing complexity of machine learning projects.
- Series C
- Amount Raised: $135M
- Date: October 2021
- Lead Investors: Bond, Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: NVIDIA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and integrate with NVIDIA's ecosystem.
- Venture Round
- Amount Raised: $50M
- Date: August 2023
- Lead Investors: Daniel Gross, Nat Friedman
- Valuation at Round: $1.25 billion
- Motivation Behind the Round: To continue building out MLOps tools and support the growing adoption of large language models.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Total Amount Raised: $250M
Current Valuation: $1.25 billion
Key Investors
- Daniel Gross
- Details: Daniel Gross is a prominent investor and entrepreneur known for his work in AI and technology startups. He has been involved in various initiatives aimed at advancing machine learning and artificial intelligence.
- Investment Focus Areas: AI, technology startups, machine learning.
- Notable Investments: Various AI and tech startups.
- Nat Friedman
- Details: Nat Friedman is the former CEO of GitHub and a well-known figure in the tech industry. He has a strong background in open-source software and technology development.
- Investment Focus Areas: Open-source software, technology startups, AI.
- Notable Investments: GitHub, various open-source projects.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They focus on helping companies scale and achieve long-term success.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: Square, LinkedIn, Box.
- Coatue
- Details: Coatue is a global investment firm focused on public and private companies in the technology, media, and telecommunications sectors. They are known for their data-driven investment approach.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Snap, DoorDash, ByteDance.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology and software companies. They provide strategic guidance and operational support to their portfolio companies.
- Investment Focus Areas: Growth-stage technology, software companies.
- Notable Investments: Twitter, Shopify, DocuSign.
What's Next for Weights & Biases?
Weights & Biases stands at the cusp of significant growth, driven by the increasing adoption of large language models (LLMs) and the launch of new tools like W&B Prompts. With a user base of over 700,000 ML practitioners and partnerships with industry giants like NVIDIA and Microsoft, the platform is well-positioned to meet the evolving needs of machine learning research.
Future fundraising opportunities appear promising, given the recent $50 million round and the company's robust growth trajectory. However, challenges such as rapid technological advancements and maintaining strategic partnerships could pose hurdles. As the industry evolves, Weights & Biases must continuously innovate to stay ahead.
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