What is Paperspace?
Founded in 2014, Paperspace operates as a sophisticated cloud GPU platform designed to streamline the lifecycle of artificial intelligence and machine learning models. The company provides a robust suite of tools, including virtual desktops and GPU infrastructure, which cater to the complex requirements of data scientists and software engineers. By abstracting the complexities of hardware management, Paperspace enables organizations to focus on model training and deployment, effectively reducing the barrier to entry for high-compute applications. Its recent integration with DigitalOcean represents a strategic evolution, enhancing its service delivery capabilities and expanding its footprint within the competitive cloud infrastructure market.
How much funding has Paperspace raised?
Paperspace has raised a total of $20.1M across 4 funding rounds:
Unspecified
$2.8M
Angel/Seed
$4M
Series A
$13M
Debt
$350K
Unspecified (2016): $2.8M, investors not publicly disclosed
Angel/Seed (2016): $4M led by Initialized Capital, Ludlow Ventures, and Data Collective
Series A (2018): $13M supported by Initialized Capital, Sorenson Ventures, SineWave Ventures, Intel Capital, and Battery Ventures
Debt (2020): $350K featuring PPP
Key Investors in Paperspace
Initialized Capital
A venture capital firm dedicated to supporting seed stage founders across various sectors including enterprise SaaS, artificial intelligence, and infrastructure.
Battery Ventures
A global investment firm that partners with exceptional founders developing category-defining businesses in software, services, and enterprise infrastructure.
Intel Capital
The strategic investment division of Intel, focusing on innovative startups targeting artificial intelligence, cloud computing, and next-generation compute technologies.
What's next for Paperspace?
Looking ahead, Paperspace is poised to leverage its recent capital injection to further refine its cloud-native offerings and deepen its integration within the broader DigitalOcean ecosystem. As the demand for accessible, high-performance computing continues to surge, the company is well-positioned to capture additional market share by focusing on developer experience and operational efficiency. Future growth will likely center on scaling its GPU-as-a-service model to support increasingly complex generative AI workloads, ensuring that both individual developers and large-scale enterprises maintain a competitive edge in an AI-driven economy.
See full Paperspace company page
