Liqid Valuation, Funding & Investors
Liqid is valued at $275M as of September 2021.
Last Liqid valuation
$275M
Series C · Sep 2021
Last Liqid funding round
$8M
Undisclosed stage · May 2026
Cumulative funding Liqid raised
$220M
across 7 funding rounds
Key investors in Liqid
DH Capital
Iron Gate Capital
Panorama Point Partners
Kingston
Phison Electronics
Lightrock
About Liqid
Liqid is a Broomfield-headquartered provider of composable disaggregated infrastructure software. The Element platform pools CPUs, GPUs, FPGAs, NVMe storage, and NICs from data center servers into software-defined resource pools. Users compose bare-metal servers via the Command Center GUI, REST API, or CLI in under 60 seconds for AI training, HPC, and VDI workloads. Liqid integrates with NVIDIA GPUs and Intel Optane for hyperscale deployments.
Founded
2013
HQ
Denver, COWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$275M (Sep 2021)
Liqid Valuation
Liqid is currently valued at $275M, based on its Series C in September 2021.
The $40M round included Rose Park Advisors.
Liqid valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2021 | Series C | $275M |
Liqid Funding History
Liqid has raised a total of $220M across 7 funding rounds.
Liqid's first fundraising round was a $10M seed round in May 2015. The most recent completed round was a $8M undisclosed-stage round in May 2026.
Liqid funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Undisclosed stage | - | $8M | - | Liqid raised $100 million in a Series C funding round led by Lightrock and affiliates of DH Capital, with participation from existing backers Panorama Point Partners and Iron Gate Capital. The transaction was structured as primary equity financing to support the company’s growth and product expansion. The company previously raised a $28 million Series B round, bringing total capital raised at that point to about $50 million, and this latest round lifted total funding to around $160 million. The capital was raised to scale Liqid’s composable infrastructure software for data centers, including systems designed to bring cloud-like flexibility, speed, and efficiency to on-premises environments. The company is positioning its platform for demand tied to artificial intelligence, high-performance computing, and other data-centric applications. The financing also reflects continued investor support from prior shareholders and additional backing from new institutional investors. Liqid is a Broomfield, Colorado-based software company focused on composable infrastructure for servers, storage, and other data center resources. It provides software-defined tools that allow infrastructure to be dynamically configured on demand. Public disclosures describe it as one of the world’s largest providers of data center composability software and note that the company has used prior financing to expand personnel across operations, sales, marketing, engineering, and related functions. |
| Oct 2024 | Undisclosed stage | - | $22M | - | Liqid is a composable infrastructure startup that enables fluid pools of compute, networking, and storage resources, powering high-density GPU servers for efficient resource pooling and dynamic allocation. The company, founded about six years ago, began selling its platform in early 2018 and serves universities, medical facilities, large enterprises, financial institutions, public sector organizations, and service providers like Orange for cloud, edge computing, AI, and high-performance compute, with partnerships including Inspur and Dell Technologies. On October 25, 2024, Liqid closed a Series C - III funding round raising $22.26M led by Lightrock and undisclosed investors, following prior rounds including a $28M Series B (date unspecified) led by Panorama Point Partners with Iron Gate Capital and DH Capital affiliates, bringing total raised to around $196-199M across 13 rounds. Funds from Series B were allocated to hiring in operations, sales, marketing, engineering, and maintaining technology leadership. Customers deploy Liqid's switch and software in servers and storage, with excitement around telecom and 5G buildouts. A later $0.75M Series C - IV occurred on October 2, 2025. |
| Dec 2021 | Series C | DH Capital (lead); Lightrock (lead); Iron Gate Capital; Panorama Point Partners | $100M | - | Liqid is a Denver-based software company specializing in data center composability, offering the Liqid Matrix platform that enables agile, scalable, and sustainable software-defined infrastructure for AI, high-performance computing, and data-centric applications. The platform improves data utilization by two to three times compared to traditional data centers and significantly reduces energy consumption. In December 2021, Liqid announced a $100 million Series C funding round co-led by Lightrock and affiliates of DH Capital, with participation from existing investors Panorama Point Partners and Iron Gate Capital. This brought total funding to $160 million, following a $28 million Series B in 2019 and earlier rounds. The funding aims to drive expansion, meet global demand for composable infrastructure, and support hypergrowth amid rising adoption of software-defined solutions. By 2021, Liqid had more than doubled its workforce, surpassed 100 customers, and achieved 1034% revenue growth from 2017 to 2020. The company has been recognized as a Gartner Cool Vendor, Deloitte Fast 500 honoree, and received awards like Ernst & Young Entrepreneur of the Year for its founders. Later rounds include a Series C - II in 2022 and Series C - III in 2024 for $22.26 million from Lightrock. |
| Sep 2021 | Series C | Rose Park Advisors | $40M | $275M | - |
| Nov 2019 | Series B | Panorama Point Partners (lead); Iron Gate Capital; DH Capital | $28M | - | - |
| May 2017 | Series A | Marker Hill Capital (lead); Iron Gate Capital; DH Capital; Kingston; Phison Electronics; Section Partners | $12M | - | Liqid, provider of on-demand composable infrastructure technologies, secured $10 million in Series A funding in May 2017 led by Marker Hill Capital, with participation from Phison Electronics. This round brought total funding to $20 million including prior seed investment from Kingston Technology, Phison Electronics, ABR Capital Management, and DH Capital. The company planned to use proceeds to accelerate development of its composable infrastructure platform for 2017 availability, hire engineering talent, and expand sales and marketing. Liqid's platform enables pooling and deployment of compute, networking, storage, and graphics processing at the bare-metal server level to enhance data agility and infrastructure flexibility in datacenters. Existing OEM partnerships included Kingston Technology and Inspur Group. The funding supported refinement of this industry-leading offering to meet demand for resource agility. |
| May 2015 | Seed | DH Capital (lead); ABR Capital Management; Kingston; Phison Electronics | $10M | - | Liqid secured $10 million in a Series A round around May 2015, led by DH Capital with participation from ABR Capital Management, Kingston Technology, and Phison Electronics, bringing total funding to $20 million at that point. The company develops composable infrastructure technology for data centers, enabling dynamic allocation of compute, storage, and networking resources. |
Who has invested in Liqid?
10 investors have backed Liqid across its funding rounds, including DH Capital, Iron Gate Capital, Panorama Point Partners, Kingston, Phison Electronics and Lightrock.
Lead investors include DH Capital, Lightrock, Panorama Point Partners and Marker Hill Capital.
Liqid Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 4 | Lead | May 2015 | |
| Louisville, KY | 3 | Participant | May 2017 | |
| Los Angeles, CA | 2 | Participant | May 2015 | |
 Taiwan | 2 | Participant | May 2015 | |
| Omaha, NE | 2 | Lead | Nov 2019 | |
| Denver, CO | 1 | Lead | May 2017 | |
| Boston, MA | 1 | Participant | Sep 2021 | |
| San Francisco, CA | 1 | Participant | May 2015 | |
This data is available for Pro users. Sign up to see all 10 Liqid investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialLiqid Competitors
Liqid competitors include listed companies like Netcall and Inspur Digital Enterprise, and private ones like Opaque Systems, MotherDuck, CECloud and Hammerspace.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $300M | - | |
| United States | Private | - | - | $400M | - | |
 Beijing | Private | - | - | $442M | - | |
| San Francisco, CA | Private | - | - | $500M | - | |
 United Kingdom | Publicly listed | $64M | $11M | $281M | 3.3x | |
| China | Publicly listed | $1.1B | $47M | $282M | 0.2x |
Liqid Public Comps
Liqid is still privately-owned, but its public comps include Netcall, Inspur Digital Enterprise, Beijing Baolande Software, Ribbon Communications, FreeBit, QingCloud Technologies, Corvex, Beeks Group, QumulusAI and Proact IT Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $64M | $11M | 4.1x | 3.3x | 24.8x | 15.5x | |||
| $1.1B | $47M | 0.1x | 0.2x | 3.5x | 3.5x | |||
| $34M | ($9M) | 6.8x | - | (25.4x) | - | |||
| $845M | $60M | 0.8x | 0.8x | 10.9x | 7.3x | |||
| $354M | $38M | 0.7x | 0.7x | 6.8x | 5.9x | |||
| $34M | ($923K) | 9.8x | - | (361.8x) | - | |||
| $433K | ($15M) | 2054.0x | - | (57.9x) | - | |||
| $49M | $15M | 4.2x | 3.7x | 13.7x | 9.6x | |||
This data is available for Pro users. Sign up to see all Liqid competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Liqid
| When was Liqid founded? | Liqid was founded in 2013. |
| Where is Liqid headquartered? | Liqid is headquartered in Denver, CO, United States. |
| Is Liqid publicly listed? | No, Liqid is a private, VC-backed company. |
| What is Liqid's valuation? | Liqid was last valued at $275M in its Series C in September 2021. |
| How much funding has Liqid raised? | Liqid has raised $220M across 7 funding rounds. |
| What was Liqid's last funding round? | Liqid's last funding round was a $8M undisclosed-stage round in May 2026. |
| Who are Liqid's investors? | Liqid's investors include DH Capital, Iron Gate Capital, Kingston, Phison Electronics, Panorama Point Partners, Marker Hill Capital, Rose Park Advisors, ABR Capital Management, Lightrock and Section Partners. |
| Which companies are comparable to Liqid? | Companies comparable to Liqid include Opaque Systems, MotherDuck, CECloud, Hammerspace, Netcall and Inspur Digital Enterprise. |
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