SambaNova heads to ‘unicorn’ status, raises $150 million
SambaNova Systems Inc. (Palo Alto, Calif.), a 2017 startup founded to commercialize the work on machine learning of Stanford University Professors Kunle Olukotun and Professor Chris Ré, has raised $150 million in a Series B round of funding.
The company, which is developing a platform to run artificial intelligence applications from the data center to the edge. The latest round brings the amount raised to more than $206 million.
The round was led by Intel Capital, with additional participation from existing investors GV (formerly Google Ventures), Walden International, Atlantic Bridge Ventures, and Redline Capital. SambaNova said the money would be used to extend SambaNova’s product roadmap, and to continue to expand the software capabilities of its products.
“With this round of funding and with our investors’ support, SambaNova is poised to accelerate the next generation of AI applications with a radically new systems architecture to empower forward-moving organizations to strategically deploy AI at scale,” said Rodrigo Liang, co-founder and CEO of SambaNova Systems, in a statement.
“SambaNova’s ‘software-defined hardware’ approach incorporates current thinking from respected AI hubs, that constantly-evolving software advances – like artificial intelligence, neural nets, and deep learning – can be leveraged in real time to further maximize hardware performance,” said Dave Munichiello, General Partner at GV, in the same statement.
“No other company could have assembled a more impressive group of industry luminaries to expand the community growth around their unique technology,” said Lip Bu Tan, chairman of Walden International and CEO of Cadence Design Systems Inc.