OctoML Raises $132M in Series C

OctoML has successfully raised $132M in a Series C at a $700M valuation led by Addition, Tiger Global, Madrona Venture Group, Amplify Partners, Venrock.

Company Overview

OctoML is a AI/ML company headquartered in 2100 Elliott Avenue, Seattle, WA 98121, founded in 2019 with 150+ employees.

ML acceleration platform

Fundraising Details

Amount Raised: $132M
Round Type: Series C
Valuation: $700M
Date: 2024-06-22
Investors: Addition, Tiger Global, Madrona Venture Group, Amplify Partners, Venrock

About OctoML

ML acceleration platform The company is positioned in the AI/ML sector, serving a growing market with innovative solutions.

Key Information

Headquarters: 2100 Elliott Avenue, Seattle, WA 98121
Founded: 2019
Team Size: 150+
Industry: AI/ML

What This Means

This funding round demonstrates strong investor confidence in OctoML's vision and execution. The capital will likely be used to:

Scale Operations: Expand the team and operational capacity
Product Development: Enhance existing products and develop new features
Market Expansion: Enter new markets and strengthen presence in existing ones
Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The AI/ML sector continues to attract significant investment as companies innovate to meet evolving market demands. OctoML's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $700M valuation marks an important milestone for OctoML, positioning the company among notable players in the AI/ML industry.

Looking Ahead

With this new capital, OctoML is well-positioned to execute on its growth strategy and continue building innovative solutions in the AI/ML space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-06-22. For more information about OctoML, visit their headquarters at 2100 Elliott Avenue, Seattle, WA 98121.