$118 Million Successfully Raised by Run:ai to Create Simplistic AI Infrastructure
In recent news, Run:ai, a company based in the State of Israel, successfully managed to raise a total of $75 million in a funding round of series C. The company, which focuses on simplifying the artificial intelligence (AI) infrastructure management and orchestration received investments from various existing investors. Insight Partners and Tiger Global Management were two of the most active participants in this round, as well as the series B round. The round brought in participation from other existing investors too, such as SCapital VC and TLV Partners. This allowed Run:ai to raise no less than $118 million.
In the previous year alone, the AI Infrastructure management and orchestration company has witnessed a nine-fold upward trend in its annual recurring revenue. In addition, the staff of the company has also tripled in numbers. As of now, the platform is hoping to develop plans that allow it to use the total investment raised to further boost its teams across the globe. This will allow Run:ai to consider various strategic acquisitions, while it enhances and develops the Atlas software platform of the company.
The co-founder and CEO of Run:ai, Omri Geller, talked about how AI is the next step towards the development of humanity. He went on to recall that when the company was founded, the primary vision of the owners was to create a de-factor foundational layer, which would help the company run all kinds of AI workload. He went on to commend the efforts of the company, which allowed it to experience phenomenal growth. In his words, this growth represents a vote of confidence in the path that Run:ai has been taking. Currently, the company is enabling carious organizations to orchestrate the many stages of their work in AI at scale.
This ensures that they are able to start off with their AI journey at a faster pace and innovate accordingly. As per research conducted by the popular firm IDC, the AI spending in the year 2022 on a global level could easily reach a figure of $433 billion. This will feature an increase of almost 20% in the numbers. Moreover, the forecasted expansion is likely to permit Run:ai to provide a simplified and easy solution to AI infrastructure. The Atlas platform of the company is said to provide a sort of foundation for all AI Clouds, which permits organizations to keep their AI-related resources on a unified and single platform.
The platform further supports AI no matter which stage of development it is at, from training to building models, to those running inference in the production process. Ronen Dar, the co-founder and CTO of Run:ai, also lauded the efforts of the firm on raising the funding. He added that the company is as instrumental for AI hardware as virtualization and WMware are for traditional computing. In his words, Run:ai not only provides greater efficiency but enables greater use of productivity and simpler management.
Talking about AI, he added that it runs on hardware dedicated for the purpose of acceleration, like GPUs. Though these have a few tools for assistance, they are highly helpful when it comes to scaling and implementation.