What is Paperspace?
Founded in 2014, Paperspace offers a robust accelerated cloud GPU platform designed for the efficient development, training, and deployment of AI and machine learning models. The company specializes in providing scalable and cost-effective cloud computing solutions, including virtual desktops, GPU infrastructure, and gaming solutions, catering to a diverse clientele from individual developers to large organizations. As a technology consulting service provider, Paperspace delivers cloud resources that power next-generation applications across various industries. Its recent integration with DigitalOcean is poised to further enhance its service portfolio and broaden its market presence, solidifying its position in the competitive cloud infrastructure landscape.
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, SineWave Ventures, Sorenson Ventures, Initialized Capital, and Battery Ventures
Debt (2020): $350K featuring PPP
Key Investors in Paperspace
Intel Capital
Intel Capital, a division of Intel, invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter, Cloud, 5G, and next-generation compute technologies, leveraging its extensive network for business development.
SineWave Ventures
SineWave Ventures is a premier early-stage venture capital firm focusing on technology investments, particularly enterprise technologies with applications for both commercial and public sectors, emphasizing data analytics, cybersecurity, and advanced computing.
Sorenson Ventures
Sorenson Capital collaborates with B2B product-first founders to revolutionize business operations, focusing on cybersecurity, applications, analytics, ML, AI, DevTools, and computing infrastructure, providing technical expertise and go-to-market support.
What's next for Paperspace?
The substantial enterprise-level funding and the recent strategic investment indicate that Paperspace is well-positioned for aggressive expansion and innovation. The company is likely to leverage this capital to enhance its platform's capabilities, particularly in areas such as AI model training and deployment, and to scale its infrastructure to meet growing market demand. Future developments may include deeper integration with complementary services, expansion into new geographic markets, and continued refinement of its cost-effective cloud solutions. The company's focus on providing accessible and powerful GPU resources suggests a strategic push to democratize advanced computing for a wider range of users and industries.
See full Paperspace company page
