Fireworks AI Raises $52M in Series B Funding to Expand GenAI Inference Platform

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Fireworks AI, a Redwood City-based provider of generative AI inference platforms, has raised $52 million in a Series B funding round, bringing its total valuation to $552 million. This latest funding round, led by Sequoia Capital, increases the company’s total capital raised to $77 million. Participants in the round include notable investors such as NVIDIA, AMD, and MongoDB, along with previous investors Benchmark, Databricks Ventures, and prominent industry figures like former Snowflake CEO Frank Slootman, former Meta COO Sheryl Sandberg, Airtable CEO Howie Liu, Scale AI CEO Alexandr Wang, and executives from LinkedIn, Confluent, Meta, and 1Password.

Strategic Use of Funds

The new capital will be used to expand Fireworks AI’s team and enhance its platform, which helps developers transition AI applications from prototype to production rapidly. The company’s advanced inference engine enables the building of production-ready, compound AI systems with minimal human-curated data.

Revolutionary AI Platform

Under the leadership of CEO Lin Qiao, Fireworks AI offers an ultra-fast LoRA fine-tuning system that allows developers to customize models quickly, moving from dataset preparation to querying a fine-tuned model within minutes. These models retain the performance and cost benefits of their base models, providing efficient and effective AI inference.

Since its inception, Fireworks AI has empowered developers with cutting-edge inference capabilities for popular models. Currently, the company supports over 100 state-of-the-art models in text, image, audio, embedding, and multimodal formats, optimized for latency, throughput, and cost per token.

Broad Industry Adoption

Fireworks AI’s platform is utilized by AI startups such as Cresta, Cursor, and Liner, as well as digital-native giants like DoorDash, Quora, and Upwork, for its specialized models and efficient AI solutions. The platform’s ability to provide reliable, high-performance AI inference makes it a valuable asset for companies seeking to integrate advanced AI capabilities into their operations.

This latest funding round underscores Fireworks AI’s potential to revolutionize the AI landscape, offering developers the tools they need to bring innovative AI applications to market quickly and efficiently.

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