Total amount raised
$415.1 Million
Latest funding date
5/1/2024
Location
WEKA has successfully raised funding over six rounds, with the latest being a Series E round involving 11 investors, including Valor Equity Partners as one of the lead investors. The company is backed by a total of 25 investors, with recent contributions from Generation Investment Management and 10D.
Keep reading to explore the intricacies of WEKA's fundraising journey and the investors backing this innovative platform.
What Is WEKA?
WEKA is a global data platform company that delivers a cloud-native, software-based data platform for AI and next-generation workloads. The company operates in multiple industries, including AI Infrastructure, Artificial Intelligence, Cloud Storage, Data Center, Data Management, and Software.
Founded in Campbell, California, WEKA has between 251-500 employees. The company is known for its innovative solutions like the NeuralMesh ecosystem, which enhances GPU utilization and reduces latency, making it a key player in accelerating AI and machine learning workloads.
How Much Funding Has WEKA Raised?
- Series A
- Amount Raised: USD 10,300,000
- Date: January 2014
- Lead Investors: Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundational operations and initial product development.
- Series B
- Amount Raised: USD 25,000,000
- Date: February 2016
- Lead Investors: Walden Riverwood Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand market reach.
- Series C (2019)
- Amount Raised: USD 31,700,000
- Date: January 2019
- Lead Investors: Walden Riverwood Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support customer acquisition.
- Series C (2021)
- Amount Raised: USD 73,100,000
- Date: August 2021
- Lead Investors: Hitachi Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in AI and machine learning capabilities.
- Series D
- Amount Raised: USD 135,000,000
- Date: November 2022
- Lead Investors: Generation Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global operations and enhance data platform technology.
- Series E
- Amount Raised: USD 140,000,000
- Date: May 2024
- Lead Investors: Valor Equity Partners
- Valuation at Round: USD 1,600,000,000
- Motivation Behind the Round: To scale the business, expand investments in data platform software, and provide liquidity to employees.
Total Amount Raised: USD 415,100,000. Current Valuation: USD 1,600,000,000.
Key Investors
- Valor Equity Partners
- Details: Valor Equity Partners is a growth-focused private equity firm. Antonio Gracias, the founder, CEO, and Chief Investment Officer, will join WEKA's board.
- Investment Focus Areas: Technology-enabled companies, artificial intelligence, disruptive technologies.
- Notable Investments: Tesla, SpaceX, GoPuff.
- Generation Investment Management
- Details: Generation Investment Management is a sustainable investment firm co-founded by former U.S. Vice President Al Gore. The firm focuses on long-term investments that promote sustainability.
- Investment Focus Areas: Sustainable investments, technology, growth equity.
- Notable Investments: Asana, DocuSign, Toast.
- Hitachi Ventures
- Details: Hitachi Ventures is the corporate venture capital arm of Hitachi, Ltd. It invests in innovative technologies that align with Hitachi's business interests.
- Investment Focus Areas: Technology, innovation, industrial solutions.
- Notable Investments: Innoviz Technologies, Vayyar Imaging, Xage Security.
- Walden Riverwood Ventures
- Details: Walden Riverwood Ventures is a venture capital firm that focuses on technology and growth-stage companies. It has been a key investor in multiple funding rounds for WEKA.
- Investment Focus Areas: Technology, growth-stage companies, innovation.
- Notable Investments: GoPro, Roku.
- Norwest
- Details: Norwest is a global venture capital and growth equity investment firm. It invests in early to late-stage companies across a wide range of sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, Spotify, BlueJeans.
What's Next for WEKA?
WEKA stands at the cusp of significant opportunities, driven by the global demand for AI-native data infrastructure. With a recent $140 million investment, the company is poised to scale its business rapidly, expand its data platform software, and address the performance demands of advanced technologies like generative AI and high-performance GPUs. This growth is bolstered by the involvement of high-profile investors, indicating strong confidence in WEKA's future.
Future fundraising opportunities appear promising as WEKA continues to innovate and expand. The company's strategic growth plans and the backing of major investors suggest that additional funding rounds could be on the horizon. This financial support will be crucial in maintaining WEKA's competitive edge and driving further technological advancements.
However, WEKA faces challenges such as maintaining rapid growth while ensuring the quality and performance of its data platform. The competitive landscape in the AI and data infrastructure market is fierce, and the company must continuously innovate to stay ahead. Managing the complexities of global expansion and diverse customer needs will also be critical to WEKA's sustained success.
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