Artificial intelligence company Baseten is close to closing a stunning $1.5 billion funding round at a $13 billion valuation. The Wall Street Journal reported on this. Just five months ago, the startup announced that a $300 million Series E It is worth 5 billion dollars. And that was just nine months after raising round a $150 million Series D.
If completed, this latest round will represent a 160% increase in valuation in less than half a year. However, the WSJ reports that it is a split valued rounda tactic that startups use to boost their headline valuations and make lead investors look good on paper. In this latest funding round, some investors are coming in at $13 billion, while others are coming in at $11 billion, sources told the Journal. The deal was reportedly co-led by Spark Capital, Sands Capital, Altimeter Capital and Wellington Management.
Launched in 2019, Baseten is a startup benefiting from The Next Wave’s acclaim.extract gold rush,” where VCs pour large sums of money into companies building the results layer. The result is what the model does after the user submits a request. Baseten promises to manage the result quickly while controlling costs by redirecting requests to the best model for the task, particularly competent, less expensive open source alternatives.
