Baseten founded by Australians raises $1.5 billion valued $13 billion
Business
Baseten, an AI company started by Australians in California, just scored a massive $1.5 billion funding round, pushing its value up to $13 billion.
Sands Capital and Wellington Management led the investment, while Blackbird VC jumped in with its biggest bet so far.
Baseten revenue grew 20x from inference
Baseten helps companies customize AI models for less money than big names like OpenAI or Anthropic.
Thanks to huge demand for real-world AI outputs (called "inference"), their revenue shot up 20 times over the past year.
The new funds will boost their tech and team, and as Blackbird's Michael Tolo put it, it's a signal of conviction.