What is Paperspace?
Founded in 2014, Paperspace offers an accelerated cloud GPU platform designed to streamline the development, training, and deployment of complex AI and machine learning models. The company specializes in delivering simple, cost-effective cloud infrastructure that caters to both individual developers and large-scale organizations. Its product suite, which includes virtual desktops and specialized GPU resources, serves as a foundational layer for industries ranging from 3D graphics rendering to advanced data analytics. Following its acquisition by DigitalOcean, Paperspace has further solidified its market position, leveraging its technical expertise to enhance service offerings and expand its reach within the global cloud ecosystem.
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, Data Collective, and Ludlow Ventures
Series A (2018): $13M supported by Intel Capital, Initialized Capital, Battery Ventures, SineWave Ventures, and Sorenson Ventures
Debt (2020): $350K featuring PPP
Key Investors in Paperspace
Intel Capital
A division of Intel that invests in innovative startups targeting artificial intelligence, autonomous vehicles, and next-generation compute technologies.
Initialized Capital
A venture capital firm dedicated to supporting seed-stage founders across various sectors including enterprise SaaS, infrastructure, and artificial intelligence.
Battery Ventures
A global investment firm that partners with exceptional founders developing category-defining businesses in software, enterprise infrastructure, and industrial technology.
What's next for Paperspace?
With its integration into DigitalOcean, Paperspace is positioned to accelerate its growth by tapping into a broader customer base and leveraging enhanced operational resources. The strategic focus moving forward will likely center on deepening the integration of its GPU-accelerated services into the broader DigitalOcean cloud portfolio, thereby simplifying the deployment of AI-driven applications for a wider demographic of developers. As the demand for scalable, high-performance computing continues to surge, Paperspace remains at the forefront of providing the necessary infrastructure to power next-generation applications, ensuring that complex machine learning workflows remain accessible and efficient for enterprises worldwide.
See full Paperspace company page
