Baseten Revenue, Valuation, Funding & Investors
Baseten is valued at $13B as of June 2026, a 21.7x multiple on its last reported $600M revenue.
Last Baseten valuation
$13B
Series F · Jun 2026
Last Baseten funding round
$1.5B
Series F · Jun 2026
Baseten revenue
$600M
Series F · Jun 2026
Key investors in Baseten
Greylock
IVP
Spark Capital
South Park Commons
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Lachy Groom01 Advisors
About Baseten
Baseten is a serverless infrastructure platform for deploying machine learning models with autoscaling GPUs, cron scheduling, and vector databases. San Francisco-headquartered and founded in 2021, it supports PyTorch and TensorFlow runtimes, powering real-time inference for 1,000+ ML teams at Fortune 500 firms. Integrations include Pinecone for RAG and LangChain for agentic workflows.
Founded
2019
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Revenue
$600M (Jun 2026)
Valuation
$13B (Jun 2026)
Baseten Valuation
Baseten is currently valued at $13B, based on its Series F in June 2026.
The $1.5B round was led by Altimeter Capital, Conviction, Sands Capital Ventures, Spark Capital and Wellington Management, with participation from IVP, Verified Capital, Blackbird Ventures, Battery Ventures, Durable Capital Partners and 3 other investors.
Baseten's valuation has grown 65x from $200M at its Series B in March 2024 to $13B in June 2026, across 5 priced rounds.
Baseten valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Series F | $13B | 21.7x |
| Jan 2026 | Undisclosed stage | $5B | - |
| Sep 2025 | Series D | $2.1B | 134.4x |
| Feb 2025 | Series C | $825M | 51.6x |
| Mar 2024 | Series B | $200M | 12.5x |
Baseten Revenue
Baseten's latest recorded revenue is $600M, as of its Series F in June 2026. At a $13B valuation, that implies a 21.7x revenue multiple.
Revenue grew from $16M in March 2024 to $600M in June 2026, while the revenue multiple moved from 12.5x to 21.7x.
Baseten revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2026 | $600M | $13B | 21.7x | Series F |
| Sep 2025 | $16M | $2.1B | 134.4x | Series D |
| Feb 2025 | $16M | $825M | 51.6x | Series C |
| Mar 2024 | $16M | $200M | 12.5x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Baseten Funding History
Baseten has raised a total of $2.1B across 7 funding rounds.
Baseten's first fundraising round was a $12M Series A in April 2022. The most recent completed round was a $1.5B Series F in June 2026.
Baseten funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series F | Altimeter Capital (lead); Conviction (lead); Sands Capital Ventures (lead); Spark Capital (lead); Wellington Management (lead); IVP; Verified Capital; Blackbird Ventures; Battery Ventures; Durable Capital Partners; D. E. Shaw & Co.; 01 Advisors; Greylock | $1.5B | $13B | Baseten announced a $1.5 billion Series F financing round in June 2026, led by Altimeter Capital, Conviction Partners, and Spark Capital, with co-leads Sands Capital and Wellington Management, achieving a reported $13 billion valuation. The round is dual-tiered, with some investors participating at an $11 billion valuation and others at $13 billion, reflecting a split-priced structure to balance headline valuation and investor returns. This marks Baseten's fourth fundraise in 18 months, following a $5 billion Series E in January 2026, a $2.15 billion Series D in September 2025, and a $825 million Series C in February 2025. The company reported 20x year-over-year revenue growth and 40x growth in inference volume, processing over 1 billion inference calls daily across 87 clusters and 18 clouds. The new capital will fund compute, software, and talent investments to support multi-model inference and post-training services, underscoring investor appetite for runtime and post-training infrastructure in the AI inference gold rush. |
| Jan 2026 | Undisclosed stage | CapitalG (lead); IVP (lead); NVIDIA (lead) | $300M | $5B | Baseten is an AI inference platform enabling category-defining AI applications to run multiple specialized models in production with high performance, reliability, and cost efficiency. Founded in 2019 and based in San Francisco, the company powers products from customers including Cursor, OpenEvidence, Abridge, Notion, and Clay, focusing on inference as the critical infrastructure layer for real-time AI reasoning and generation in workflows. On January 23, 2026, Baseten announced a $300 million Series E funding round at a $5 billion post-money valuation, anchored by IVP, CapitalG, and NVIDIA, with participation from Altimeter, Battery Ventures, BOND, BoxGroup, Blackbird Ventures, Conviction, Greylock, and 01A. This marks the company's third fundraise in the past year, bringing total funding to $585 million, following a Series D just three months prior. NVIDIA reportedly invested $150 million in the round. The funding comes amid explosive growth in AI inference demand, with Baseten's inference volume growing 100x in the prior year, driven by the shift from model training to production deployment where inference is projected to account for two-thirds of AI compute by end-2026, up from one-third in 2023. The capital will support team expansion, platform scaling for speed, uptime, and developer experience, and position Baseten as the foundational infrastructure for an expanding inference market fueled by reasoning models and enterprise adoption. Baseten plans to be acquisitive in the heating AI inference space to challenge competitors like Together AI, leveraging its partnerships with fast-growing AI companies and infrastructure optimized for multi-model production environments. The round reflects investor confidence in Baseten's role in the AI stack as inference becomes one of the largest markets ever created. |
| Sep 2025 | Series D | Bond (lead); Conviction; IVP; Spark Capital; BoxGroup; Premji Invest; Scribble Ventures; CapitalG; 01 Advisors; Greylock | $150M | $2.1B | Baseten is a San Francisco-based AI infrastructure company specializing in inference, the process of running trained AI models to generate predictions and decisions, powering the world's fastest-growing AI products and applications. Customers including Abridge, Captions, Clay, OpenEvidence, Patreon, and Writer rely on Baseten for scalable, reliable, and cost-efficient inference to support mission-critical workloads amid accelerating AI adoption across sectors like healthcare, finance, and sales. On September 5, 2025, Baseten announced a $150 million Series D funding round at a $2.15 billion post-money valuation, nearly tripling its prior valuation just six months after a $75 million Series C. The round was led by Bond (BOND), with Jay Simons joining the board, and included new investors CapitalG, Premji Invest, Scribble Ventures (Kevin and Elizabeth Weil), and BoxGroup, alongside existing backers Conviction, 01 Advisors (01A), IVP, Spark Capital, and Greylock. This brings Baseten's total funding raised to over $285 million. The funding comes as Baseten reports revenue growth of more than 10x over the past 12 months, positioning it at the center of the over $100 billion inference market. Its platform enables AI applications to scale rapidly to millions of users, with customers generating billions in revenue powered by Baseten. The company highlighted rapid AI application layer growth, describing it as dynamic with no sunk costs, and emphasized challenges in scaling infrastructure for high-performance, bullet-proof service. Proceeds from the Series D will scale Baseten's team, invest in model performance research, expand infrastructure for larger workloads, enhance developer tooling, and grow customer support teams to meet surging demand. Baseten aims to help the fastest-growing AI companies deliver reliable products at scale, solidifying its role in the AI app layer amid explosive industry growth. |
| Feb 2025 | Series C | IVP (lead); Spark Capital (lead); basecase capital; Conviction; Adam Bain; 01 Advisors; Greylock; Horizon; Dick Costolo; Lachy Groom; South Park Commons | $75M | $825M | Baseten is an AI inference platform providing tooling, orchestration, optimized runtimes, and APIs for deploying AI models with low latency and high availability across multi-cloud GPU environments. It supports open-source models, workflow management, observability, and automation, powering applications from companies like Cursor, OpenEvidence, Abridge, Notion, and Clay. Founded in 2019 in San Francisco, Baseten enables developers to run multiple specialized models at scale without custom infrastructure. On February 19, 2025, Baseten raised $75 million in a Series C funding round co-led by IVP and Spark Capital, valuing the company at $825 million post-money. Existing investors including Greylock, South Park Commons, Lachy Groom, and Basecase Capital participated, alongside new investors Adam Bain and Dick Costolo from 01 Advisors. This marked more than a 4x increase from the prior $200 million+ valuation in the $40 million Series B from March 2024, also led by IVP and Spark Capital. By February 2025, Baseten served over 100 large organizations and hundreds of smaller businesses, up from 20 large enterprises and tens of thousands of developers as of March 2024, showing rapid customer growth. Investors highlighted its traction in securing a disproportionate share of customers despite not being the cheapest option. The round supported expansion amid surging demand for production-grade AI inference infrastructure. Baseten continued fundraising aggressively, completing a $150 million Series D at $2.15 billion in September 2025 led by BOND, followed by a $300 million Series E at $5 billion in January 2026 co-led by IVP and CapitalG with Nvidia's $150 million investment, bringing total funding to $585 million. |
| Mar 2024 | Series B | IVP (lead); Spark Capital (lead); basecase capital; Charles Zedlewski; Greylock; Lachy Groom; South Park Commons | $40M | $200M | Baseten is an AI infrastructure company founded in 2019, specializing in inference platforms that enable developers and enterprises to deploy, manage, and scale machine learning models in production with low latency, high availability, and optimized performance across multi-cloud environments. The platform includes tooling, orchestration, runtime environments, workflow management, versioning, observability, and support for open-source models, serving customers like Abridge, Clay, Cursor, Notion, Descript, Gamma, and Writer. In March 2024, Baseten raised a $40 million Series B round led by IVP and Spark Capital, with participation from existing investors Greylock, South Park Commons, Lachy Groom, and Basecase Capital (listed as Base Case). This round valued the company at more than $200 million post-money. The funding came after a pivot to focus on inference in 2023, which transformed its trajectory from nearly zero revenue through 2022 to $2.7 million in 2023, followed by sixfold growth to approximately $16.2 million in fiscal year 2024, driven by generative AI adoption. As of March 2024, Baseten served about 20 large enterprises and tens of thousands of developers. The company continued rapid expansion, reaching over 100 large organizations by February 2025, with investors like Spark Capital noting its strong customer wins. Subsequent rounds included a $75 million Series C (date unspecified, co-led by IVP and Spark with additional investors), a $150 million Series D in September (reportedly at ~$2.2 billion valuation, with Premji Invest participation), and a $300 million Series E in January 2026 at $5 billion valuation, co-led by IVP and CapitalG with Nvidia and others, bringing total funding to $585 million. |
| Apr 2022 | Seed | Greylock (lead); South Park Commons (lead); Mustafa Suleyman; AI Fund; Greg Brockman; Dylan Field; DJ Patil; Lachy Groom; Caffeinated Capital | $8M | - | Baseten raised $20 million total in seed and Series A funding announced on April 26, 2022. The seed round was $8 million co-led by Greylock and South Park Commons, with participation from AI Fund, Caffeinated Capital, and angels including DJ Patil, Dylan Field, Greg Brockman, Lachy Groom, and Mustafa Suleyman. The $12 million Series A was led by Greylock, with South Park Commons and angels such as Lachy Groom, Cristina Cordova, Dev Ittycheria, Jay Simon, and Jean-Denis Greze. Baseten provides a platform enabling data science and machine learning teams to build and deploy production-grade ML-powered apps, reducing time, cost, and coordination needed for shipping ML applications. The funding supported expansion of engineering and go-to-market teams. Greylock's Sarah Guo joined the board. Later rounds included a Series B in March 2024 at over $200 million valuation, Series C in February 2025 at $825 million, Series D at $2.15 billion, and Series E in January 2026 at $5 billion. |
| Apr 2022 | Series A | Greylock (lead); K5 Global; Dev Ittycheria; Jean-Denis Greze; Jay Simons; Cristina Cordova; Lachy Groom; South Park Commons | $12M | - | Baseten provides AI infrastructure solutions. In April 2022, the company announced its Series A funding round led by Greylock's Sarah Guo, with the seed and Series A together totaling $20 million in funding. Investors in Baseten's funding history include Greylock, South Park Commons, and Lachy Groom. The company, founded in 2019, has since raised additional rounds, including a Series B in March 2024 at over $200 million valuation. |
Who has invested in Baseten?
37 investors have backed Baseten across its funding rounds, including Greylock, IVP, Spark Capital, South Park Commons, Lachy Groom and 01 Advisors.
Lead investors include Altimeter Capital, Conviction, Sands Capital Ventures, Spark Capital, Wellington Management and 6 other investors.
Baseten Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 6 | Lead | Apr 2022 | |
| San Francisco, CA | 5 | Lead | Mar 2024 | |
| San Francisco, CA | 4 | Lead | Mar 2024 | |
| Lachy Groom | San Francisco, CA | 4 | Participant | Apr 2022 |
| San Francisco, CA | 4 | Lead | Apr 2022 | |
| United States | 3 | Lead | Feb 2025 | |
| San Francisco, CA | 3 | Participant | Feb 2025 | |
| San Francisco, CA | 2 | Participant | Mar 2024 | |
| San Francisco, CA | 2 | Lead | Sep 2025 | |
| San Francisco, CA | 1 | Participant | Apr 2022 | |
| San Jose, CA | 1 | Lead | Jan 2026 | |
| Boston, MA | 1 | Lead | Jun 2026 | |
| San Francisco, CA | 1 | Participant | Jun 2026 | |
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Start Free TrialAcquisitions by Baseten
Baseten has acquired 2 companies to date.
Last acquisition by Baseten was on September 10th 2026. Baseten acquired Blaxel for undisclosed valuation.
Latest Acquisitions by Baseten
| Description | Blaxel is a cloud infrastructure platform for deploying and scaling AI agents in production environments. It provides managed services for agent orchestration, monitoring, and integration with LLMs and tools. The company enables developers to build autonomous systems for customer support, data analysis, and automation workflows through its API-first architecture. | Parsed is a San Francisco-based AI research lab developing custom frontier large language models. Its platform trains LLMs with continual learning and built-in interpretability for enterprise applications. Focused on sectors like finance and healthcare, Parsed delivers tailored models via API. Launched in 2023, the lab emphasizes transparent AI for production use. |
| HQ Country | | |
| HQ City | San Francisco, CA | San Francisco, CA |
| Deal Date | 10 Sep 2026 | 10 Dec 2025 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Baseten acquisitions and their M&A valuation multiples. Start Free Trial | ||
Baseten Competitors
Baseten competitors include listed companies like Nebius Group and DigitalOcean, and private ones like Lovable, Nscale, Databricks and OpenAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Stockholm | Private | $500M | - | $13B | 26.6x | |
 London | Private | $33M | - | $15B | 442.4x | |
 Netherlands | Publicly listed | $530M | $512M | $59B | 24.2x | |
| San Francisco, CA | Private | $7B | - | $190B | 27.1x | |
| San Francisco, CA | Private | $25B | - | $852B | 34.1x | |
| United States | Publicly listed | $901M | $343M | $16B | 14.9x |
Baseten Public Comps
Baseten is still privately-owned, but its public comps include GoDaddy, iFlytek, JFrog, Tempus AI, CGI, Range Intelligent, Akamai, DigitalOcean, GitLab and Oracle Corp Japan.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5B | $1.3B | 3.1x | 2.9x | 11.7x | 8.9x | |||
| $4B | $465M | 3.7x | 3.4x | 31.7x | 40.6x | |||
| $532M | ($67M) | 20.3x | 17.4x | (159.9x) | 88.4x | |||
| $1.3B | ($131M) | 12.0x | 10.1x | (116.0x) | 346.0x | |||
| $11B | $2B | 1.5x | 1.5x | 8.6x | 7.3x | |||
| $846M | $803M | 20.7x | 16.0x | 21.9x | 19.7x | |||
 Akamai | $4.2B | $1.3B | 5.1x | 4.8x | 16.8x | 12.1x | ||
| $901M | $343M | 18.2x | 14.9x | 47.9x | 37.7x | |||
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Common questions about Baseten
| When was Baseten founded? | Baseten was founded in 2019. |
| Where is Baseten headquartered? | Baseten is headquartered in San Francisco, CA, United States. |
| Is Baseten publicly listed? | No, Baseten is a private, VC-backed company. |
| What is Baseten's valuation? | Baseten was last valued at $13B in its Series F in June 2026. |
| How much funding has Baseten raised? | Baseten has raised $2.1B across 7 funding rounds. |
| What was Baseten's last funding round? | Baseten's last funding round was a $1.5B Series F in June 2026, led by Altimeter Capital, Conviction, Sands Capital Ventures, Spark Capital and 1 other investor. |
| Who are Baseten's investors? | Baseten's investors include Greylock, IVP, Spark Capital, Lachy Groom, South Park Commons, Conviction, 01 Advisors, basecase capital, CapitalG, K5 Global and 27 others. |
| What is Baseten's revenue? | Baseten's latest recorded revenue is $600M (June 2026). |
| What is Baseten's revenue multiple? | Baseten's latest valuation implies a 21.7x revenue multiple ($13B valuation on $600M of revenue). |
| Which companies are comparable to Baseten? | Companies comparable to Baseten include Lovable, Nscale, Nebius Group, Databricks, OpenAI and DigitalOcean. |
| How many companies has Baseten acquired? | Baseten has acquired 2 companies, including Blaxel and Parsed. |
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