Together AI Revenue, Valuation, Funding & Investors

Together AI is valued at $8.3B as of June 2026, a 7.2x multiple on its last reported $1.1B revenue.

Last Together AI valuation

$8.3B

Series C · Jun 2026

Last Together AI funding round

$800M

Series C · Jun 2026

Together AI revenue

$1.1B

Series C · Jun 2026

Key investors in Together AI

  • General Catalyst
  • Salesforce Ventures
  • Lux Capital
  • NVIDIA
  • Emergence Capital
  • Alumni Ventures

Together AI Overview

About Together AI

Together AI is a San Francisco-headquartered cloud platform for open-source AI model training and inference using GPU clusters with NVIDIA H100s. Founded in 2022, it hosts datasets like RedPajama and models such as Llama 2, serving developers at Meta and Stability AI with decentralized compute across 20 data centers worldwide.


Founded

2022

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based, Subscription

Revenue

$1.1B (Jun 2026)

Valuation

$8.3B (Jun 2026)

Together AI Valuation

Together AI is currently valued at $8.3B, based on its Series C in June 2026.

The $800M round was led by Aramco Ventures, with participation from NVIDIA, Salesforce Ventures, General Catalyst, Vista Equity Partners, March Capital and 7 other investors.

Together AI's valuation has grown 6.6x from $1.3B at its Series A in March 2024 to $8.3B in June 2026, across 3 priced rounds.

Together AI valuation by funding round

Revenue multiple
Together AI valuation by funding round
DateStageValuationRevenue Multiple
Jun 2026Series C$8.3B7.2x
Feb 2025Series B$3.3B33.0x
Mar 2024Series A$1.3B-

Together AI Revenue

Together AI's latest recorded revenue is $1.1B, as of its Series C in June 2026. At a $8.3B valuation, that implies a 7.2x revenue multiple.

Revenue grew from $100M in February 2025 to $1.1B in June 2026, while the revenue multiple moved from 33.0x to 7.2x.

Together AI revenue by funding round

Together AI revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2026$1.1B$8.3B7.2xSeries C
Feb 2025$100M$3.3B33.0xSeries 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.

Together AI Funding History

Together AI has raised a total of $1.3B across 5 funding rounds.

Together AI's first fundraising round was a $20M seed round in May 2023. The most recent completed round was a $800M Series C in June 2026.

Together AI funding rounds

Together AI funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Series CAramco Ventures (lead); NVIDIA; Salesforce Ventures; General Catalyst; Vista Equity Partners; March Capital; Lux Capital; S Ventures; PSP Capital Partners; Emergence Capital; Geodesic Capital; Schneider Electric; DTCP$800M$8.3BTogether AI closed an $800 million Series C round on July 1, 2026, at an $8.3 billion post-money valuation, led by Aramco Ventures (Prosperity7 Ventures) with participation from NVIDIA, Vista Equity Partners, General Catalyst, Emergence Capital, Salesforce Ventures, March Capital, Pegatron, and SentinelOne's S Ventures. This investment represents a 2.5x step-up from the company's $3.3 billion valuation set just 17 months earlier in its February 2025 Series B round, which was also led by General Catalyst. The company, founded in 2022 and headquartered in San Francisco, specializes in infrastructure for open-source AI models, renting out NVIDIA GPU clusters and AI-specific infrastructure to enterprises. Together AI plans to use the new capital to expand its AI inference platform and scale its infrastructure footprint approximately 50-fold over the next five years. As part of the Series C, the company secured commitments for more than 500 MW of additional compute capacity, financed separately by new investors. Total funding raised to date is approximately $1.33 billion.
Feb 2025Series BAlumni Ventures (lead); General Catalyst (lead); Prosperity7 Ventures (lead)$305M$3.3BTogether AI is a San Francisco-based AI cloud infrastructure provider that offers an end-to-end platform for developers and enterprises to train, fine-tune, and run inference on generative AI models, supporting over 200 open-source models across modalities like chat, image, audio, vision, code, and embeddings. Its AI Acceleration Cloud features proprietary Inference Engine and Training Stack technologies, including FlashAttention-3 for enhanced performance, delivering 2-3x faster inference than hyperscalers, and is equipped with Nvidia GPUs like Blackwell B200. The platform serves over 450,000 developers and major customers including Salesforce, Zoom, SK Telecom, The Washington Post, DuckDuckGo, and Mozilla. On February 20, 2025, Together AI raised $305 million in a Series B round co-led by General Catalyst and Prosperity7 Ventures, with participation from Alumni Ventures (implied in investor lists), Salesforce Ventures, Nvidia, Kleiner Perkins, Coatue, Lux Capital, and others including John Chambers. The round valued the company at $3.3 billion post-money, more than doubling from $1.25 billion in the prior March 2024 round, with proceeds funding expansion of its cloud platform and large-scale Nvidia Blackwell GPU deployments. At the time of the funding announcement, Together AI reported $100 million in annualized recurring revenue (ARR), up from $30 million the previous February. The company has demonstrated strong growth, reaching over 450,000 users in 2024, and continues to innovate with open-source datasets of 30 trillion tokens, enterprise-grade privacy controls, AWS Marketplace availability, and the acquisition of CodeSandbox for code interpretation capabilities. In the competitive AI cloud landscape, Together AI positions itself as a leader in open-source AI acceleration, emphasizing cost efficiency, scalability, and performance for production-scale applications amid the shift to an AI-first world.
Mar 2024Series ASalesforce Ventures (lead)$106M$1.3BTogether AI, a generative AI startup founded about two years prior, provides an open-source cloud platform enabling developers to build, fine-tune, and deploy customizable AI models using serverless APIs. The company operates data centers across the US and Europe, delivering over 20 exaflops of compute power through partnerships with providers like Crusoe Cloud, Applied Digital, Lambda Labs, Vultr, Oracle Cloud, and ClusterPower. It serves notable clients including Pika Labs, NexusFlow, Voyage AI, and Cartesia, and integrates with frameworks such as LangChain, Vercel, LlamaIndex, MongoDB, and EmbedChain. On March 13, 2024, Together AI raised $106 million in a funding round led by Salesforce Ventures, with participation from Coatue Management and existing investors like Lux Capital, Kleiner Perkins, Emergence Capital, Prosperity7 Ventures, NEA, Greycroft, Definition Capital, Long Journey Ventures, Scott Banister, and SV Angel. This round valued the company at a post-money valuation of $1.25 billion, doubling its valuation from the prior $102.5 million Series A led by Kleiner Perkins and Nvidia in November 2023. The funds are earmarked for expanding compute capacity internationally, enhancing enterprise features for secure generative AI deployment, hiring researchers, and leasing more computing power. At the time, Together AI reported over 45,000 registered developers with traffic tripling month-over-month, positioning it as a leading platform for open-source models. The company optimizes infrastructure for cost-efficient large language model training and inference, accumulating thousands of Nvidia GPUs and providing virtualization, scheduling, and model optimizations. This round reflects strong investor confidence in open-source AI amid surging demand for AI workloads, despite Nvidia GPU shortages. Subsequently, Together AI raised a $305 million Series B in 2025 led by General Catalyst and Prosperity7 Ventures at a $3.3 billion valuation, with participation from prior investors including Salesforce Ventures and Nvidia. It later reported surpassing $100 million in annualized revenue, up from $30 million the prior February, and grew to over 450,000 developers while launching enterprise tools and acquiring CodeSandbox.
Nov 2023Series AKleiner Perkins (lead); NVIDIA (lead); Emergence Capital$103M-Together AI is a startup providing a cloud platform for training, fine-tuning, and running open-source generative AI models, optimizing costs through custom infrastructure with thousands of GPUs across U.S. and EU datacenters, including partners like Crusoe Cloud and Vultr. It offers APIs for model serving, custom model development services, and supports clusters scaling up to 2,048 GPUs, delivering around 20 exaflops of compute. Customers include Nexusflow, Voyage AI, Cartesia, Pika Labs, and others leveraging its efficient inference and training capabilities. On November 29, 2023, Together AI announced a $102.5 million Series A funding round, led by Kleiner Perkins with participation from NVIDIA and Emergence Capital, marking over five times the size of its prior seed round. The funds are allocated to expand its AI cloud platform for developers building on open and custom models, enhancing virtualization, scheduling, and optimizations for lower operating costs. Kleiner Perkins partner Bucky Moore joined the board. The company demonstrated traction with industry-leading performance and reliability, enabling customers to own their AI investments. Subsequent rounds included a March 2024 Series A extension of $106M led by Salesforce Ventures raising valuation to $1.25B, and a February 2025 Series B of $305M led by General Catalyst and Prosperity7 Ventures at $3.3B valuation. Together AI positions itself in the open-source AI resistance against proprietary models from OpenAI and Anthropic, backed by AI researchers including co-founder and chief scientist Tri Dao, creator of FlashAttention. Its full-stack platform aids efficient use of NVIDIA H100 GPUs and similar hardware.
May 2023SeedLux Capital (lead)$20M-Together AI is a developer of an AI Acceleration Cloud platform that enables over 450,000 AI developers, AI-native companies, and enterprises like Salesforce, Zoom, SK Telecom, Hedra, Cognition, Zomato, Krea, Cartesia, and The Washington Post to build modern AI applications using open-source models across modalities such as chat, image, audio, vision, code, and embeddings. The platform features a proprietary Inference engine with innovations like FlashAttention-3 kernels and advanced quantization, delivering 2-3x faster inference than hyperscaler solutions, and supports serverless APIs for inference and fine-tuning with integrations into frameworks like LangChain, Vercel, LlamaIndex, MongoDB, and EmbedChain. In May 2023, Together AI raised a $20 million seed round led by Lux Capital, with participation from First Round Capital, SV Angel, and Long Journey Ventures. This was the company's initial funding round, followed by a $102.5 million Series A in November 2023 at a roughly $500 million valuation led by Kleiner Perkins with NVIDIA and others, then a $106 million Series A extension in March 2024 at $1.25 billion led by Salesforce Ventures with Coatue, Lux Capital, and others, and a $305 million Series B in February 2025 at $3.3 billion led by General Catalyst and Prosperity7 Ventures. Total funding raised across these rounds reached $533.5 million by early 2025. Later traction includes reaching a $10 million run rate in the first three months of business, over 10,000 API registrations by June 2023, surpassing $100 million ARR by September 2024 or earlier estimates, $30 million annualized revenue by February 2024, $50-130 million revenue in 2024, and projections up to $300 million annualized by September 2025. The company scaled to over 8,000 A100 and H100 GPUs by February 2024, delivering 20 exaflops of compute, with gross margins estimated at around 45% from token-based pricing on bundled GPU compute. Together AI differentiated by offering cheaper compute than hyperscalers by about 80%, focusing on optimization for training, fine-tuning, and serving generative AI models, and expanding with features like enterprise platforms, AWS Marketplace availability, DeepSeek model deployments, voice AI integrations, and the acquisition of CodeSandbox. A 9.6x revenue multiple was noted for the March 2024 round based on 2024 revenue of $130 million at $1.25 billion valuation.

Who has invested in Together AI?

16 investors have backed Together AI across its funding rounds, including General Catalyst, Salesforce Ventures, Lux Capital, NVIDIA, Emergence Capital and Alumni Ventures.

Lead investors include Aramco Ventures, Alumni Ventures, General Catalyst, Prosperity7 Ventures, Salesforce Ventures and 3 other investors.


Together AI Investors

Investors in Together AI by funding rounds participated
InvestorHQRoundsRoleFirst check
NVIDIAUnited StatesSan Jose, CA2LeadNov 2023
Salesforce VenturesUnited StatesSan Francisco, CA2LeadMar 2024
General CatalystUnited StatesSan Francisco, CA2LeadFeb 2025
Lux CapitalUnited StatesNew York City, NY2LeadMay 2023
Emergence CapitalUnited StatesSan Francisco, CA2ParticipantNov 2023
Vista Equity PartnersUnited StatesAustin, TX1ParticipantJun 2026
Kleiner PerkinsUnited StatesSan Francisco, CA1LeadNov 2023
March CapitalUnited StatesLos Angeles, CA1ParticipantJun 2026
Prosperity7 VenturesSaudi ArabiaDammam1LeadFeb 2025
S VenturesUnited StatesUnited States1ParticipantJun 2026
PSP Capital PartnersUnited StatesChicago, IL1ParticipantJun 2026
Geodesic CapitalUnited StatesSan Francisco, CA1ParticipantJun 2026
Schneider ElectricFranceParis1ParticipantJun 2026

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Acquisitions by Together AI

Together AI has acquired 2 companies to date.

Last acquisition by Together AI was on May 14th 2025. Together AI acquired Refuel.AI for undisclosed valuation.


Latest Acquisitions by Together AI

Refuel.AI
CodeSandbox
Description
Refuel.AI is a San Francisco-based platform for machine learning on unstructured data. It provides data labeling, weak supervision tools, and foundation models to accelerate development for enterprises in finance, healthcare, and e-commerce.
CodeSandbox is an online code editor and collaboration platform used by over 2 million developers monthly. Launched in 2017, it hosts more than 10 million apps, powering open-source projects like React, Vue, and Babel. Enterprise clients including Shopify, Atlassian, and Stripe utilize it for rapid prototyping, live previews, and team workspaces.
HQ CountryUnited StatesNetherlands
HQ City
San Francisco, CA
Amsterdam
Deal Date14 May 202512 Dec 2024
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Together AI Competitors

Together AI competitors include listed companies like C3.ai and Presight AI, and private ones like Fireworks AI, Reflection.Ai, Tanium and ElevenLabs.

Public and private companies comparable to Together AI
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Fireworks AIUnited StatesSan Francisco, CAPrivate$1B-$18B17.5x
C3.aiUnited StatesUnited StatesPublicly listed$250M($484M)$1.7B4.5x
Reflection.AiUnited StatesNew York City, NYPrivate--$8B-
TaniumUnited StatesSeattle, WAPrivate$600M-$9B15.0x
ElevenLabsPolandWarsawPrivate$500M-$11B22.0x
Presight AIUAEUAEPublicly listed$825M$214M$5.7B5.4x

Together AI Public Comps

Together AI is still privately-owned, but its public comps include Oracle Corp Japan, Applied Digital, Computacenter, GDS Holdings, Nextdc, Presight AI, Wangsu, United Internet, MiniMax Group and GoDaddy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Oracle Corp Japan$1.8B$589M3.9x3.9x12.1x12.2x
Applied Digital$611M($85M)21.3x20.1x(154.0x)78.1x
Computacenter$12B$440M0.6x0.4x16.5x12.0x
GDS Holdings$1.7B$882M6.8x6.3x13.1x13.6x
Nextdc$353M$138M21.9x19.2x56.0x38.3x
Presight AI$825M$214M6.3x5.4x24.4x20.8x
Wangsu$695M$138M6.4x6.0x32.6x30.5x
United Internet$7B$1.5B1.4x1.4x6.8x6.4x

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Common questions about Together AI

When was Together AI founded?Together AI was founded in 2022.
Where is Together AI headquartered?Together AI is headquartered in San Francisco, CA, United States.
Is Together AI publicly listed?No, Together AI is a private, VC-backed company.
What is Together AI's valuation?Together AI was last valued at $8.3B in its Series C in June 2026.
How much funding has Together AI raised?Together AI has raised $1.3B across 5 funding rounds.
What was Together AI's last funding round?Together AI's last funding round was a $800M Series C in June 2026, led by Aramco Ventures.
Who are Together AI's investors?Together AI's investors include NVIDIA, Salesforce Ventures, General Catalyst, Lux Capital, Emergence Capital, Vista Equity Partners, Kleiner Perkins, March Capital, Prosperity7 Ventures, S Ventures and 6 others.
What is Together AI's revenue?Together AI's latest recorded revenue is $1.1B (June 2026).
What is Together AI's revenue multiple?Together AI's latest valuation implies a 7.2x revenue multiple ($8.3B valuation on $1.1B of revenue).
Which companies are comparable to Together AI?Companies comparable to Together AI include Fireworks AI, C3.ai, Reflection.Ai, Tanium, ElevenLabs and Presight AI.
How many companies has Together AI acquired?Together AI has acquired 2 companies, including Refuel.AI and CodeSandbox.

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