Fireworks AI, a Redwood City-based genAI inference platform supplier, has raised $52 million in Series B funding, valued at $552 million.
The round, which raised a total of $77 million, was headed by Sequoia Capital and included NVIDIA, AMD, and MongoDB. Previous investors include Benchmark, Databricks Ventures, former Snowflake CEO Frank Slootman, former Meta COO Sheryl Sandberg, Airtable CEO Howie Liu, Scale AI CEO Alexandr Wang, and leaders from LinkedIn, Confluent, Meta, and OnePassword.
The cash will be used to grow the team and improve the platform, allowing developers to deploy AI applications from prototype to production more quickly.
Fireworks AI, led by CEO Lin Qiao, offers an inference engine for developing production-ready compound AI systems. Using minimum human-curated data, LoRA fine-tuning enables developers to swiftly tailor models to their individual needs, from dataset preparation to querying in minutes. These models are installed with the same performance and cost benefits as their base models.
Since its beginning, the company has provided developers with accurate inferences for popular models. Today, the company provides over 100 cutting-edge models in text, image, audio, embedding, and multimodal forms, all optimized for latency, throughput, and cost per token.
Fireworks AI is used by developers at AI startups such as Cresta, Cursor, and Liner, as well as digital-native heavyweights such as DoorDash, Quora, and Upwork to create specialized models.
The company provides the fastest and most efficient inference engine for developing production-ready compound AI systems. Fireworks.ai, founded in 2022, offers a cost-effective and configurable solution for generative artificial intelligence, enabling product creators to run, fine-tune, and share massive language models.
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