Israeli AI raises 30 M in Series B round

Israeli AI orchestration and virtualization software company Run:AI announced on Wednesday that it has raised $30 million in funding for its Series B round.

The round was led by Insight Partners, with participation from existing investors TLV Partners and S-Capital.

This is brings the company’s total funding to $43 million.

Lonne Jaffe, managing director at Insight Partners, will join Run: AI’s board.

The company says it will use the investment to fund rapid expansion and recruitment. The company says in an announcement that it aims to triple the size of its team.

Run: AI was launched in 2019 as a company bridging the gap between data science and computing infrastructure by creating a high-performance compute virtualization layer for deep learning, speeding the training of neural network models, and enabling the development of large AI models.

“Tomorrow’s industry leaders will be those companies that master both hardware and software within the AI data centers of the future,” said Omri Geller, co-founder and CEO of Run:AI, “The more experiments a team runs, and the faster it runs them, the sooner a company can bring AI solutions to market. Every time GPU resources are sitting idle, that’s an experiment that another team member could have been running, or a prediction that could have be made, slowing down critical AI initiatives.”

“Every enterprise is either already rearchitecting themselves to be built around learning systems powered by AI, or they should be,” added Lonne Jaffe, Managing Director at Insight Partners, “Just as virtualization and then container technology transformed CPU-based workloads over the last decades, Run:AI is bringing orchestration and virtualization technology to AI chipsets such as GPUs, dramatically accelerating both AI training and inference. The system also future-proofs deep learning workloads, allowing them to inherit the power of the latest hardware with less rework. In Run:AI, we’ve found disruptive technology, an experienced team, and a SaaS-based market strategy that will help enterprises deploy the AI they’ll need to stay competitive.”

2021-01-28T05:29:48+00:00January 28th, 2021|Uncategorized|0 Comments