The artificial intelligence sector is flourishing on the West Coast as Bay Area innovators continue to pull in fresh capital to back their ideas. From developing conversational work assistants to automating software development, learn what these coal innovators are building with their new funding.
SF’s Largest Tech Funding Rounds, February 2024
- Figure
- Lambda
- Glean
- Magic
- Sierra
#5. $110 million, February 13
Founded by former Salesforce leader Bret Taylor and veteran Google executive Clay Bavor, Sierra is a conversational AI solution targeting business customers. The company received $110 million in funding from investors including Sequoia Capital and Benchmark. Its solution aims to converse with companies’ customers for support, account management and other issues.
#4. $117 million, February 19
Magic’s AI-powered solution works to automate software development. NFDG Ventures led the round of Series B funding that will help the company develop its product. To date, Magic has secured $145 million in venture funding and claims to have thousands of GPUs deployed for training its AI models.
#3. $200 million, February 27
Glean developed an AI-powered work assistant built to provide highly personalized answers based on a company’s unique knowledge graph. Valued at more than $2.2 billion, Glean has secured a round of Series D funding from lead investors Kleiner Perkins and Lightspeed Venture Partners. The capital will help Glean accelerate its momentum to meet customer demand.
#2. $320 million, February 15
Based in San Jose, GPU cloud company Lambda builds AI infrastructure at scale for businesses in sectors like manufacturing, healthcare, financial services and government. The company’s Series C funding round led by Thomas Tull’s U.S. Innovative Technology will go toward expanding its AI cloud business.
#1. $675 million, February 29
Investors including Microsoft, OpenAI Startup Fund, NVIDIA and Jeff Bezos have backed humanoid robotics company Figure in a huge Series B round. The raise values Figure at $2.6 billion and will help the company scale up AI training and robot manufacturing, expand its engineering team and expedite commercial deployment.
