fal announces its Series E and F rounds; reports put its valuation at $16 billion, double April's
fal, a San Francisco company that hosts and runs image, video and audio generation models for developers, said on its blog that it closed a Series E led by Sequoia Capital earlier this year and is now announcing it with a Series F led by Bessemer Venture Partners, with NVIDIA as a strategic investor. The blog gives no amounts. Bloomberg, as reported by TechCrunch, says the Series F raised $1.3 billion with Sound Ventures and T. Rowe Price also taking part, the two rounds total $1.65 billion, and fal is now valued at $16 billion, double its $8 billion valuation in April. Bloomberg also reported that fal passed $800 million in annualized revenue earlier this year. fal says the money will pay for more capacity to run models, a bigger team and new research.
Why it matters
More companies now call hosted open models instead of running their own, and inference platforms like fal are raising large rounds as that demand grows.
Sources2
Written by dalao.ai: the title, summary and why it matters are our own words. The original reports are the record; their publishers keep authorship.