Fireworks AI Revenue, Valuation, Funding & Investors

Fireworks AI is valued at $18B as of July 2026, a 17.5x revenue multiple. Fireworks AI revenue was $1B, as disclosed with its latest round.

Last Fireworks AI valuation

$18B

Series D · Jul 2026

Last Fireworks AI funding round

$1.5B

Series D · Jul 2026

Fireworks AI revenue

$1B

Series D · Jul 2026

Key investors in Fireworks AI

  • Sequoia Capital
  • Lightspeed Venture Partners
  • Index Ventures
  • Benchmark
  • NVIDIA
  • Databricks Ventures

Fireworks AI Overview

About Fireworks AI

Fireworks AI is a San Francisco-headquartered cloud platform for deploying open-source AI models at scale. The service offers serverless inference for large language models like Llama 3 and vision transformers with sub-100ms latency via custom GPU clusters. Fireworks partners with Cerebras and Groq for hardware acceleration, serving enterprises in e-commerce and healthcare for fine-tuned deployments.


Founded

2022

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based, Subscription

Revenue

$1B (Jul 2026)

Valuation

$18B (Jul 2026)

Fireworks AI Valuation

Fireworks AI is currently valued at $18B, based on its Series D in July 2026. Read the announcement ↗

The $1.5B round was led by Atreides Management, Index Ventures and TCV, with participation from NVIDIA, Menlo Ventures, Lone Pine Capital, Ontario Teachers' Pension Plan, Evantic Capital and 4 other investors.

Fireworks AI's valuation has grown 34x from $522M at its Series B in July 2024 to $18B in July 2026, across 3 priced rounds.

Fireworks AI valuation by funding round

Revenue multiple
Fireworks AI valuation by funding round
DateStageValuationRevenue Multiple
Jul 2026Series D$18B17.5x
Oct 2025Secondary$4B14.3x
Jul 2024Series B$522M-

Fireworks AI Revenue

Fireworks AI's latest recorded revenue is $1B, as of its Series D in July 2026. At a $18B valuation, that implies a 17.5x revenue multiple.

Revenue grew from $280M in October 2025 to $1B in July 2026, while the revenue multiple moved from 14.3x to 17.5x.

Fireworks AI revenue by funding round

Fireworks AI revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jul 2026$1B$18B17.5xSeries D
Oct 2025$280M$4B14.3xSecondary

* 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.

Fireworks AI Funding History

Fireworks AI has raised a total of $1.6B across 3 funding rounds, plus 1 secondary share sale.

Fireworks AI's first fundraising round was a $25M Series A in March 2024. The most recent completed round was a $1.5B Series D in July 2026.

Fireworks AI funding rounds

Fireworks AI funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2026Series DAtreides Management (lead); Index Ventures (lead); TCV (lead); NVIDIA; Menlo Ventures; Lone Pine Capital; Ontario Teachers' Pension Plan; Evantic Capital; Bessemer Venture Partners; Lightspeed Venture Partners; Insight Partners; 20VC$1.5B$18BFireworks AI raised $1.505 billion in a Series D funding round in July 2026 at a $17.5 billion post-money valuation, with Atreides Management, Index Ventures, and TCV jointly leading the round. The investment supports Fireworks' strategic expansion of its AI inference cloud infrastructure and engineering capacity to meet growing demand for cost-effective, specialized intelligence models from enterprises like Uber, Shopify, and Genspark. Founded in 2022 by the team behind PyTorch, the San Mateo-based company provides cloud services for training and serving custom open-source AI models in text, image, and multimodal formats, backed by major investors including NVIDIA, AMD, Sequoia Capital, and Lightspeed Venture Partners.
Oct 2025SecondaryEvantic Capital (lead); Index Ventures (lead); Lightspeed Venture Partners (lead); Sequoia Capital$20M$4BFireworks AI is an enterprise-focused AI inference and model-deployment platform founded by the team behind PyTorch that enables developers and companies to run, fine-tune, and scale open-source large language models and multimodal models with high speed, low cost, and data sovereignty. The platform serves over 10,000 customers including Uber, Shopify, DoorDash, Notion, and Upwork, processing more than 10 trillion tokens per day. In October 2025, Fireworks AI announced a $250 million Series C funding round at a $4 billion valuation, co-led by Lightspeed Venture Partners, Index Ventures, and Evantic Capital with participation from existing investor Sequoia Capital. The round included both primary and secondary funding, bringing total company funding to $327–$331 million. Fireworks AI's annualized revenue surpassed $280 million as of October 2025, representing approximately 20× year-over-year growth from $6.5 million in May 2024 to $130 million in May 2025. The company's developer base nearly doubled from 12,000 in February 2024 to 23,000 by December 2024. Fireworks charges customers based on token processing volume rather than seat-based licensing, aligning pricing with customer usage and creating efficiency incentives across the platform.
Jul 2024Series BSequoia Capital (lead); NVIDIA; MongoDB; Frank Slootman; AMD; Sheryl Sandberg; Benchmark; Databricks Ventures; Howie Liu; Alexandr Wang$52M$522MFireworks AI is an AI startup providing developers with fast, cost-effective, and privacy-centric access to state-of-the-art generative AI models, including over 100 models for text, image, audio, embedding, and multimodal formats like Llama 3, Mixtral, and Stable Diffusion. The platform enables ultra-fast LoRA fine-tuning with minimal data, allowing quick customization and deployment of production-grade models privately and securely, focusing on compound AI systems that use multiple smaller models and tools instead of single mega models. In July 2024, Fireworks AI raised $52 million in a Series B funding round led by Sequoia Capital at a $522 million post-money valuation, bringing total funding to $77 million. Investors included NVIDIA, AMD, MongoDB, Benchmark, Databricks Ventures, and individuals such as Frank Slootman, Sheryl Sandberg, Howie Liu, and Alexandr Wang. One source lists the valuation as $552 million, but most report $522 million. The funding aims to advance compound AI systems, expand the team, and enhance the platform through collaborations with NVIDIA, AMD, AWS, Google Cloud, Oracle Cloud, MongoDB, Meta, Mistral, and Stability AI. At the time, the company processed over 140 billion tokens daily and supported industry-specific AI agents with performance boosts and cost reductions. Later developments include a May 2024 ARR estimate of $6.5 million (Sacra), a Series C in October 2025 raising $254 million at $4 billion valuation, and further growth to over $280 million annualized revenue by the Series C announcement.
Mar 2024Series ABenchmark (lead); Frank Slootman; Databricks Ventures; Sequoia Capital; Alexandr Wang$25M-Fireworks AI announced in March 2024 a US$25 million Series A round led by Benchmark, with participation from Sequoia Capital, Databricks Ventures, former Snowflake chief executive Frank Slootman, Scale AI chief executive Alexandr Wang, and executives from LinkedIn, Confluent, Meta and 1Password. Benchmark general partner Eric Vishria joined the board as part of the round. The company was founded in 2022 by Lin Qiao, Dmytro Dzhulgakov and Chenyu Zhao, members of the team that built and led Meta's PyTorch framework, and is based in Redwood City, California. Fireworks operates an inference platform that lets developers run, fine-tune and deploy open-source generative models such as Llama and Mixtral with low latency and lower cost than hyperscaler alternatives, positioning itself as a production-grade alternative to closed-model APIs. Proceeds were earmarked for expanding the engineering team, the model catalogue and enterprise go-to-market. The Series A was the company's first institutional round; four months later it raised a US$52 million Series B led by Sequoia at a US$522 million valuation, and by October 2025 it had reached a US$4 billion valuation with annualised revenue above US$280 million.

Who has invested in Fireworks AI?

21 investors have backed Fireworks AI across its funding rounds, including Sequoia Capital, Lightspeed Venture Partners, Index Ventures, Benchmark, NVIDIA and Databricks Ventures.

Lead investors include Atreides Management, Index Ventures, TCV, Evantic Capital, Lightspeed Venture Partners and 2 other investors.


Fireworks AI Investors

Investors in Fireworks AI by funding rounds participated
InvestorHQRoundsRoleFirst check
Sequoia CapitalUnited StatesSan Francisco, CA3LeadMar 2024
NVIDIAUnited StatesSanta Clara, CA2ParticipantJul 2024
Frank SlootmanUnited StatesSan Jose, CA2ParticipantMar 2024
Index VenturesUnited KingdomLondon2LeadOct 2025
Evantic CapitalUnited KingdomManchester2LeadOct 2025
BenchmarkUnited StatesSan Francisco, CA2LeadMar 2024
Databricks VenturesUnited StatesSan Francisco, CA2ParticipantMar 2024
Lightspeed Venture PartnersUnited StatesSan Francisco, CA2LeadOct 2025
Alexandr WangUnited StatesSan Francisco, CA2ParticipantMar 2024
MongoDBUnited StatesNew York City, NY1ParticipantJul 2024
Menlo VenturesUnited StatesMenlo Park, CA1ParticipantJul 2026
Lone Pine CapitalUnited StatesGreenwich, CT1ParticipantJul 2026
Atreides ManagementUnited StatesBoston, MA1LeadJul 2026

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Acquisitions by Fireworks AI

Fireworks AI has acquired 1 company to date.

Last acquisition by Fireworks AI was on March 3rd 2026. Fireworks AI acquired Hathora for undisclosed valuation.


Latest Acquisitions by Fireworks AI

Hathora
Description
Hathora is a San Francisco-based cloud platform for multiplayer game development that automates server deployment, matchmaking, and scaling across global data centers. Developers access SDKs for Unity and Unreal Engine to integrate real-time features like state synchronization and anti-cheat systems. Hathora supports titles in genres from battle royales to MMOs with low-latency worldwide distribution.
HQ CountryUnited States
HQ City
New York City, NY
Deal Date3 Mar 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Fireworks AI Competitors

Fireworks AI competitors include listed companies like C3.ai and Baidu, and private ones like Together AI, Fluidstack, Kling AI and Sierra.

Public and private companies comparable to Fireworks AI
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Together AIUnited StatesSan Francisco, CAPrivate$100M-$8.3B-
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.9B5.3x
FluidstackUnited KingdomLondonPrivate$180M-$18B-
Kling AIChinaBeijingPrivate$500M-$18B36.0x
SierraUnited StatesSan Francisco, CAPrivate$100M-$16B-
BaiduChinaChinaPublicly listed$19B$3.3B$26B1.1x

Fireworks AI Public Comps

Fireworks AI is still privately-owned, but its public comps include Nutanix, CGI, CDW, GoDaddy, Akamai, IonQ, DCI Indonesia, DigitalOcean, Baidu and Oracle Corp Japan.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Nutanix$2.9B$333M6.1x5.9x52.1x22.4x
CGI$11B$2B1.7x1.6x9.6x8.1x
CDW$22B$2B1.1x1.0x12.7x11.2x
GoDaddy$5B$1.3B3.4x3.3x13.2x9.8x
Akamai$4.2B$1.3B4.6x4.3x15.2x11.0x
IonQ$130M($531M)83.4x27.5x(20.4x)(26.4x)
DCI Indonesia$140M$85M165.7x-271.7x-
DigitalOcean$901M$343M12.5x10.0x33.0x25.4x

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Common questions about Fireworks AI

When was Fireworks AI founded?Fireworks AI was founded in 2022.
Where is Fireworks AI headquartered?Fireworks AI is headquartered in San Francisco, CA, United States.
Is Fireworks AI publicly listed?No, Fireworks AI is a private, VC-backed company.
What is Fireworks AI's valuation?Fireworks AI was last valued at $18B in its Series D in July 2026.
How much funding has Fireworks AI raised?Fireworks AI has raised $1.6B across 3 funding rounds.
What was Fireworks AI's last funding round?Fireworks AI's last funding round was a $1.5B Series D in July 2026, led by Atreides Management, Index Ventures and TCV.
Who are Fireworks AI's investors?Fireworks AI's investors include Sequoia Capital, NVIDIA, Frank Slootman, Index Ventures, Evantic Capital, Benchmark, Databricks Ventures, Lightspeed Venture Partners, Alexandr Wang, MongoDB and 11 others.
What is Fireworks AI's revenue?Fireworks AI's latest recorded revenue is $1B (July 2026).
What is Fireworks AI's revenue multiple?Fireworks AI's latest valuation implies a 17.5x revenue multiple ($18B valuation on $1B of revenue).
Which companies are comparable to Fireworks AI?Companies comparable to Fireworks AI include Together AI, C3.ai, Fluidstack, Kling AI, Sierra and Baidu.
How many companies has Fireworks AI acquired?Fireworks AI has acquired 1 company, including Hathora.

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