San Francisco AI company Fal raises $1.3 billion, doubles valuation
Business
Fal, a San Francisco-based AI company, just doubled its valuation to $16 billion after raising $1.3 billion in Series F funding.
Big names like Bessemer Venture Partners, NVIDIA, and T. Rowe Price backed the round.
Fal's rapid growth is tied to its AI model hosting platform, especially among customers relying on open-source models.
Fal crosses $800 million annualized revenue
Founded in 2021 by Burkay Gur and Gorkem Yurtseven, Fal has now raised a total of $1.65 billion and recently crossed $800 million in annualized revenue.
Even with high computing costs squeezing profits, demand for easy-to-use AI tools keeps rising, and Fal is among rivals like Baseten and Fireworks AI as more people look for ways to run powerful models without the hassle.