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RunPod raised $20M in seed funding to accelerate its AI/ML workload platform

RunPod recently secured $20 million in a seed funding round co-led by Intel Capital and Dell Technologies Capital. RunPod's globally distributed GPU cloud computing enables easy AI model training, deployment, and scalability. The funding will support RunPod's growth and continued innovation.

Ellie Ramirez-Camara profile image
by Ellie Ramirez-Camara
RunPod raised $20M in seed funding to accelerate its AI/ML workload platform
Credit: RunPod

RunPod's seed funding round was co-led by Intel Capital and Dell Technologies Capital, and backed by Julien Chaummond, Nat Friedman, and Adam Lewis. As part of the negotiations, Mark Rostick, Vice President and Senior Managing Director at Intel Capital, will join the Board of Directors at RunPod. The funding will accelerate the growth of RunPod's globally distributed GPU cloud computing service to keep up with the growing demand for AI and ML solutions. The funding will also enable the company to continue attracting top talent to grow its team.

RunPod currently offers two solutions, GPU Cloud and Serverless, that enable developers to train, deploy, and scale AI models. Moreover, the company also offers over 50 templates providing preconfigured environments for instant deployments. In addition, developers can bring their custom containers, allowing for fine-grained control over the deployment environment configuration. RunPod's core services also let developers secure an on-demand GPU instance and create autoscaling API endpoints for scaling inference across production-stage AI models

The efficiency, quality, and unmatched flexibility of RunPod's offering have driven the company's 10x revenue growth year over year. Commenting on RunPod's success, Mark Rostick stated, “RunPod is rapidly growing both its customer base and revenue by offering a broad, fast, and easy-to-use platform that meets the needs of developers and their model-based applications." The fast customer base growth resulted in the need to grow RunPod's team almost tenfold to support RunPod's status as an industry leader. The company recently launched the ability to deploy CPU compute instances and continues to innovate and deliver "an ecosystem that stands the test of time," supported by the recently raised funds.

Ellie Ramirez-Camara profile image
by Ellie Ramirez-Camara

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