Israeli AI startup Run:ai raises $75M in to accelerate AI adoption worldwide
“It may sound dramatic, but AI is really the next phase of humanity’s development,” said the company’s CEO
Run:ai, an Israeli company which aims to simplify AI infrastructure orchestration and management, announced that it has raised $75M in Series C round, bringing the total funding raised to date to $118M.
The company enjoyed a 9x increase in annual recurring revenue in the last year, while its staff more than tripled over the same period. The company plans to use the investment to further grow its global teams and will also be considering strategic acquisitions as it develops and enhances the company’s Atlas software platform.
“It may sound dramatic, but AI is really the next phase of humanity’s development,” said Omri Geller, Run:ai CEO and co-founder. “Run:ai is enabling organizations to orchestrate all stages of their AI work at scale, so companies can begin their AI journey and innovate faster.”
Research firm IDC predicts global AI spending in 2022 will reach $433bn, nearly a 20% annual increase. However, AI infrastructure is complex to manage and scale. Companies see low hardware utilization, scheduling clashes and a delayed pace of innovation — if they can build functioning AI infrastructure at all.
Run:ai’s Atlas platform provides a ‘Foundation for AI Clouds’, whether on premises, across public clouds, or at the edge, allowing organizations to have their AI resources on a single, unified platform that supports AI at all stages of development, from building and training models to running inference in production.
“Traditional CPU computing has a rich software stack with many development tools for running applications at scale. AI, however, runs on dedicated hardware accelerators such as GPUs which have few tools to help with their implementation and scaling,” said Ronen Dar, Run:ai CTO and co-founder.
“We’ve built a cloud-native software layer that abstracts AI hardware away from data scientists and ML engineers, letting Ops and IT simplify the delivery of compute resources for any AI workload and any AI project.” said Ronen Dar, Run:ai CTO and co-founder.