Bloomberg Reports Fal Raises $1.3 Billion at $16 Billion Valuation
Summary
Fal raises $1.3 billion led by Bessemer Venture Partners, doubling its valuation to $16 billion from $8 billion in April, Bloomberg reports. The San Francisco startup, which runs AI video, image, and audio models, says it surpassed $800 million in annualized revenue. The company raised $1.65 billion across Series E and Series F combined.
Key Points
- Nvidia, Sound Ventures and T. Rowe Price join Bessemer Venture Partners in the funding round.
- People familiar with the finances of inference rivals Baseten, Fireworks AI and Modal say thin gross margins persist on high compute costs.
- Burkay Gur, a former Coinbase machine learning leader, co-founds Fal in 2021 with ex-Amazon developer Gorkem Yurtseven.