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 delivering scalable and cost-effective cloud computing solutions, including virtual desktops and GPU infrastructure, catering to a diverse clientele ranging from individual developers to large organizations. Paperspace's integration with DigitalOcean aims to enhance its service offerings and broaden its market presence, solidifying its position as a key technology consulting service provider powering next-generation applications.
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 Data Collective, Initialized Capital, and Ludlow Ventures
Series A (2018): $13M supported by Sorenson Ventures, Initialized Capital, Battery Ventures, Intel Capital, and SineWave Ventures
Debt (2020): $350K featuring PPP
Key Investors in Paperspace
Sorenson Ventures
Sorenson Capital is a venture capital firm that collaborates with B2B product-first founders, focusing on areas like cybersecurity, AI, and computing infrastructure. They invest across various stages, offering technical expertise and strategic support to drive growth.
Initialized Capital
Initialized Capital is a venture capital firm that supports seed-stage founders across diverse sectors including enterprise SaaS, AI, and infrastructure, providing essential tools and guidance for long-term success.
Battery Ventures
Battery Ventures is a global investment firm that partners with founders of category-defining businesses in software, enterprise infrastructure, and healthcare IT, investing across all stages from seed to buyout.
What's next for Paperspace?
The recent major strategic investment signals a new phase of growth for Paperspace, likely enabling the company to enhance its platform capabilities, expand its infrastructure, and deepen its market penetration in the competitive AI and cloud computing sectors. This backing is expected to accelerate the development of advanced features for its GPU platform and virtual desktop solutions, further empowering users in AI research, data science, and graphics rendering. Paperspace's strategic alignment with DigitalOcean suggests a focus on synergistic growth and enhanced service delivery to a wider customer base.
See full Paperspace company page
