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- Fireworks AI
Fireworks AI Revenue, Valuation, Funding & Investors
Fireworks AI is valued at $18B as of July 2026, a 17.5x multiple on its last reported $1B revenue.
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
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
Website
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.
The $1.5B round was led by Atreides Management, Index Ventures and TCV, with participation from NVIDIA, Jasper Farms, Menlo Ventures, Lone Pine Capital, Bessemer Venture Partners 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 4 priced rounds.
Fireworks AI valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2026 | Series D | $18B | 17.5x |
| Oct 2025 | Secondary | $4B | 14.3x |
| Oct 2025 | Series C | $4B | 14.3x |
| Jul 2024 | Series B | $522M | 1.9x |
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 July 2024 to $1B in July 2026, while the revenue multiple moved from 1.9x to 17.5x.
Fireworks AI revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2026 | $1B | $18B | 17.5x | Series D |
| Oct 2025 | $280M | $4B | 14.3x | Secondary |
| Oct 2025 | $280M | $4B | 14.3x | Series C |
| Jul 2024 | $280M | $522M | 1.9x | 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.
Fireworks AI Funding History
Fireworks AI has raised a total of $1.6B across 4 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Series D | Atreides Management (lead); Index Ventures (lead); TCV (lead); NVIDIA; Jasper Farms; Menlo Ventures; Lone Pine Capital; Bessemer Venture Partners; Evantic Capital; Lightspeed Venture Partners; Insight Partners; 20VC | $1.5B | $18B | Fireworks 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 2025 | Secondary | Evantic Capital (lead); Index Ventures (lead); Lightspeed Venture Partners (lead); Sequoia Capital | $20M | $4B | Fireworks 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. |
| Oct 2025 | Series C | Evantic Capital (lead); Index Ventures (lead); Lightspeed Venture Partners (lead); Sequoia Capital | $20M | $4B | Fireworks AI is a high-performance AI inference cloud platform founded in 2022 by Lin Qiao and Dmytro Ivchenko, enabling developers to build, fine-tune, and deploy generative AI applications using open-source models with sub-second inference at scale. The platform powers production AI for enterprises like Uber, Shopify, GitLab, Samsung, DoorDash, Notion, and Upwork, processing over 10 trillion tokens daily for more than 10,000 customers. On October 28-30, 2025, Fireworks AI raised $250 million in a Series C round at a $4 billion post-money valuation, including primary and secondary funding ($230M primary, $20M secondary per WSJ). The round was co-led by Lightspeed Venture Partners, Index Ventures, and Evantic Capital, with participation from Sequoia Capital and prior investors like NVIDIA, AMD, MongoDB, and Databricks, bringing total funding to $327 million. The company reported annualized revenue surpassing $280 million, reflecting 10x customer growth since Series B and surging enterprise demand for customized AI infrastructure. Fireworks offers hundreds of open-source models across text, image, audio, and multimodal domains, with tools for fine-tuning, reinforcement learning, and model evaluation, delivering up to 40x faster performance and 8x cost reduction versus competitors. Founded by the PyTorch team, Fireworks positions itself as the leader in AI inference, emphasizing open-source accessibility over black-box APIs to help enterprises own their AI journey amid growing production-scale needs. |
| Jul 2024 | Series B | Sequoia Capital (lead); NVIDIA; MongoDB; Frank Slootman; AMD; Sheryl Sandberg; Benchmark; Databricks Ventures; Howie Liu; Alexandr Wang | $52M | $522M | Fireworks 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 2024 | Series A | Benchmark (lead); Frank Slootman; Databricks Ventures; Sequoia Capital; Alexandr Wang | $25M | - | - |
Who has invested in Fireworks AI?
22 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Mar 2024 | ||
| 3 | Lead | Oct 2025 | ||
| 3 | Lead | Oct 2025 | ||
| 2 | Participant | Jul 2024 | ||
| 2 | Participant | Mar 2024 | ||
| 2 | Lead | Oct 2025 | ||
| 2 | Lead | Mar 2024 | ||
| 2 | Participant | Mar 2024 | ||
| 2 | Participant | Mar 2024 | ||
| 1 | Participant | Jul 2024 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
This data is available for Pro users. Sign up to see all 22 Fireworks AI investors. Start Free Trial | ||||
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Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | New York City, NY |
| Deal Date | 3 Mar 2026 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Fireworks AI acquisitions and their M&A valuation multiples. Start Free Trial | |
Fireworks AI Competitors
Fireworks AI competitors include listed companies like C3.ai and Baidu, and private ones like Together AI, Fluidstack, Kling AI and Harvey.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $1.1B | - | $8.3B | 7.2x | ||
| Publicly listed | $250M | ($484M) | $1.7B | 4.5x | ||
| Private | $180M | - | $18B | - | ||
| Private | $500M | - | $18B | 36.0x | ||
| Private | $300M | - | $16B | 51.7x | ||
| Publicly listed | $19B | $3.3B | $30B | 1.4x |
Fireworks AI Public Comps
Fireworks AI is still privately-owned, but its public comps include CDW, IonQ, Nutanix, DigitalOcean, Akamai, CGI, GoDaddy, MiniMax Group, DCI Indonesia and VeriSign.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $22B | $2B | 1.1x | 1.0x | 12.4x | 11.0x | |||
| $130M | ($531M) | 109.9x | 40.3x | (26.9x) | (39.1x) | |||
| $2.5B | $230M | 7.1x | 6.2x | 78.4x | 23.8x | |||
| $901M | $343M | 18.2x | 14.9x | 47.9x | 37.7x | |||
| $4.2B | $1.3B | 5.1x | 4.8x | 16.8x | 12.1x | |||
| $11B | $2B | 1.5x | 1.5x | 8.6x | 7.3x | |||
| $5B | $1.3B | 3.1x | 2.9x | 11.7x | 8.9x | |||
| $79M | ($1.9B) | 131.8x | - | (5.5x) | - | |||
This data is available for Pro users. Sign up to see all Fireworks AI competitors and their valuation data. Start Free Trial | ||||||||
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 4 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, Index Ventures, Lightspeed Venture Partners, NVIDIA, Frank Slootman, Evantic Capital, Benchmark, Databricks Ventures, Alexandr Wang, MongoDB and 12 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, Harvey and Baidu. |
| How many companies has Fireworks AI acquired? | Fireworks AI has acquired 1 company, including Hathora. |
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