Hugging Face Raises $235M in Series D

Hugging Face has successfully raised $235M in a Series D at a $4.5B valuation led by Salesforce Ventures, Nvidia, Google, Amazon, AMD, Intel, IBM, Qualcomm, Sound Ventures, Lux Capital, Sequoia Capital, Coatue.

Company Overview

Hugging Face is a AI/ML company headquartered in 81 Prospect Street, Brooklyn, NY 11201, founded in 2016 with 200+ employees.

AI model repository and collaboration platform

Fundraising Details

• Amount Raised: $235M
• Round Type: Series D
• Valuation: $4.5B
• Date: 2024-08-15
• Investors: Salesforce Ventures, Nvidia, Google, Amazon, AMD, Intel, IBM, Qualcomm, Sound Ventures, Lux Capital, Sequoia Capital, Coatue

About Hugging Face

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

Key Information

• Headquarters: 81 Prospect Street, Brooklyn, NY 11201
• Founded: 2016
• Team Size: 200+
• Industry: AI/ML

What This Means

This funding round demonstrates strong investor confidence in Hugging Face'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. Hugging Face's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $4.5B valuation marks an important milestone for Hugging Face, positioning the company among notable players in the AI/ML industry.

Looking Ahead

With this new capital, Hugging Face 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 2024-08-15. For more information about Hugging Face, visit their headquarters at 81 Prospect Street, Brooklyn, NY 11201.