Weka closed a $140 million Series E – raised in each a primary and secondary deal – that values the data platform at $1.6 billion.
The valuation is greater than double what the company was last valued at following its $135 million Series D win Generation investment management at the end of 2022. Then it was like that reported after the raise, the valuation of the Campbell, California-based startup was $750 million.
He led the latest round Valor Equity Partners.
Weka helps firms move data between sources more quickly and efficiently – a must for firms building AI projects – and can manage a big selection of knowledge sources, types and sizes
“The recent acceleration in the adoption of generative AI and enterprise cloud has driven a surge in customer demand, leading to an unprecedented number of eight-figure ARR transactions – an impressive feat considering Weka is a software-based company,” said Weka CFO Intekhab Nazeer. “It was an opportune time to strengthen our cash reserves, enabling our investors to increase their position in the company while minimizing stock dilution for our employees.”
Founded in 2013, Weka has now raised $375 million, in line with Crunchbase.
Building AI infrastructure
While most individuals prefer to focus on the latest AI tool that helps generate emails or mimic their very own voice, investors are looking at much of the architecture underlying generative AI that makes it work.
In February, lambda achieved unicorn status after a $320 million Series C at a $1.5 billion valuation. The company offers cloud computing services and artificial intelligence software training equipment. The startup is a supplier Nvidiathe company’s latest graphics processors, which are highly sought after by artificial intelligence developers.
Just earlier this month, the AI cloud infrastructure went live CoreWeave closed a $1.1 billion round led by Coat values the company at $19 billion, in line with The Wall Street Journal. The valuation represents a nearly three-fold increase from the company’s valuation just five months ago, when it was valued at $7 billion after a secondary sale, and a huge jump from the company’s $2 billion valuation in its Series B extension last May.