Run:ai raises 75 Million in the Series C round to accelerate AI Adoption Worldwide.
AI orchestration platform. AI orchestration platform increased the annual revenue of recurring operations by 9x from 2021 and staff by 3x.
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Run:Ai Raises $75M in Series C Round
Tel Aviv, March 15, 2022. Run:ai, a company that simplifies AI infrastructure management and orchestration, is today announcing that the company secured $75 million in a Series C round, led by Tiger Global Management and Insight Partners, which led in the Series B round previously. The round also includes the participation of other existing investors, TLV Partners, and S Capital VC, bringing the total amount to $118 million.
Run:ai’s growth has been rapid and has seen a 9x growth in Annual Recurring Revenue over the past year, and its staff has nearly tripled simultaneously. The company will use this investment to increase the size of its international teams. It will also consider strategic acquisitions as it develops and improves its Atlas Software Platform.
Omri Geller, the CEO of Run:ai and co-founder, commented, “It may sound dramatic; however, AI is the next stage of human growth. When we started Run:ai in 2011, our goal was to develop the most fundamental layer to run any AI work. Our growth has been tremendous, which is why this funding shows trust in our work. Run:ai helps organizations manage all phases of AI work in a scaled way and ensures that companies can begin their AI journey faster and develop more quickly.”
Research firm IDC forecasts that the world’s AI spending by 2022 will total $433 billion, which is 20 percent more than the average. But, AI infrastructure is complex to control and scale. Companies are seeing low hardware utilization, scheduling conflicts, and a slow speed of innovation if they can build a functioning AI infrastructure in the first place.
The Run:ai Atlas platform offers the “Foundation for AI Clouds’, whether on-premises, in public clouds, or on edge. It allows businesses to put their AI resources in one integrated platform that supports AI throughout the stages that it is in, from constructing and training models to running inference on production. Customers consist of Fortune 500 companies and the most cutting-edge AI startups from various verticals, including automotive, finance, healthcare, gaming, and top universities. AI researchers.
“We are doing for AI hardware the same thing that VMware and virtualization used to do for traditional computing -greater efficiency, easier management, and greater user productivity. Traditional CPU computing is an extensive software stack that includes various development tools that allow you to run applications on a massive scale. However, AI runs with dedicated hardware accelerators, like GPUs, with limited tools that can aid deployment and scaling. With Run: ai Atlas We’ve developed a cloud-native layer of software which abstracts AI hardware from data scientists and ML engineers and lets Ops and IT simplify the supply of compute resources to any AI task and for any AI project.” stated Ronen Dar, Run:ai CTO and co-founder of Run:ai.
“As companies across every industry transform themselves into learning systems powered through AI and human intelligence, There’s seen a massive increase in the need for AI hardware chipsets, such as GPUs,” said Lonne Jaffe, Managing Director at Insight Partners.
“As it was noted in the Forrester Wave AI Infrastructure report recently revealed, Run: AI creates amazing value by providing advanced orchestration and virtualization capabilities to AI chips, enabling the training as well as inference systems to run much faster and more efficiently. Due to the booming demand in the past few years, Run:ai has doubled its customers, and we’re thrilled to expand our relationship with Omri and the amazing Team at Run: AI as they tap on their momentum and scale up.”