Baseten, a California-based AI startup said on June 23 that it raised US$1.5 billion in a funding round that valued the company at US$13 billion. Sands Capital and Wellington Management led the round.

Blackbird VC also invested and said it made its biggest-ever investment in a single company, without disclosing the amount.

Founded in 2019, Baseten said it will use the funds to expand computing capacity, software, and hiring.

The valuation compares with more than US$200 million in March 2024, about US$2.2 billion in its series D round, and US$5 billion in January 2026.

Baseten said its revenue grew 20x over the past year.

Baseten said customers including Notion, Cursor, HubSpot, and Decagon use its platform to serve models.

The company uses Nvidia graphics processing units (GPUs), including Amazon Web Services (AWS) and Google Cloud.

It competes with cloud AI services from Amazon, Google, and Microsoft.

🔗 Source: Reuters