Fireworks Secures $1.5 Billion in Series D Round at $17 Billion Valuation

Fireworks, an AI infrastructure company that helps enterprises build and deploy custom AI models, has raised $1.5 billion in a Series D funding round at a valuation of $17 billion.

The investment was led by Atreides Management, Index Ventures, and TCV. Existing investors, including Evantic, Lightspeed Venture Partners, and NVIDIA, also participated in the round.

Capital to Expand Compute Capacity

The company plans to use the fresh capital to strengthen its engineering team and expand its global computing infrastructure. In addition, Fireworks aims to deepen its partnerships with cloud providers such as Microsoft and NVIDIA.

As enterprise adoption of artificial intelligence continues to grow, the company is investing in infrastructure to support increasing demand for AI model training and deployment.

Platform Supports Enterprise AI Workloads

Led by CEO Lin Qiao, Fireworks provides an AI platform that enables businesses to train, fine-tune, and deploy models tailored to their own data, workflows, and business requirements.

Its customer base includes companies such as Doximity, Geico, Revolut, and Shopify. Furthermore, the platform offers more than 200 AI models across text, image, and multimodal applications for enterprise use.

Revenue and Usage Continue to Grow

The funding follows a period of strong business growth for Fireworks. The company said it has surpassed a $1 billion annualized revenue run rate, representing a fivefold increase since its previous funding round.

Meanwhile, daily token processing on the platform has also increased significantly. Over the same period, the volume grew from 15 trillion tokens to more than 40 trillion, reflecting higher enterprise usage across its AI services.

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