Funding round
Baseten Series D
Baseten, which works in AI inference platform deployment in San Francisco, raised $150M in a Series D round announced on 5 Sep 2025, led by BOND, at a $2.15B post-money valuation. 10 firms took part. It is Baseten's third venture round on record; the one before was a Series B in Mar 2024.
$150M
Amount raised
$2.15B
Post-money valuation
$2.00B pre-money
10
Investors
1 lead
11x
Step-up from the Series B
$200M in Mar 2024
7.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Baseten at $2.15B after the new money, 10.8 times the $200M of its Series B (Mar 2024). The $150M bought investors about 7.0% of the company. It came 18 months after Baseten's Series B. It is 7.5% of the $2.00B Baseten has raised in the venture rounds on record. Baseten raised again 4 months later: a Series E round of $300M in Jan 2026, at $5.00B post-money.
Baseten's funding rounds
Baseten has 5 venture rounds on record. This one is highlighted.
- Seed 26 Apr 2022, led by Greylock Partners and South Park Commons $8.0M
- Series B 4 Mar 2024, led by Institutional Venture Partners and Spark Capital $40M$200M post-money
- Series D this round 5 Sep 2025, led by BOND $150M$2.15B post-money
- Series E 23 Jan 2026, led by Institutional Venture Partners and CapitalG $300M$5.00B post-money
- Series F 22 Jun 2026, led by Altimeter, Conviction and Spark Capital $1.50B$13.00B post-money
Investors
Who put money in
BOND led the round with 9 other firms.
Lead investor
- BOND backs 91 venture-backed companies new investor
Also in the round
- CapitalG backs 70 venture-backed companies new investor
- Premji Invest backs 50 venture-backed companies new investor
- backs 59 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- 01A backs 53 venture-backed companies new investor
- Institutional Venture Partners backs 109 venture-backed companies new investor
- Spark Capital backs 234 venture-backed companies new investor
- Greylock Partners backs 190 venture-backed companies new investor
- BoxGroup backs 175 venture-backed companies new investor
Joined the board: Jay Simons (Bond).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Series D rounds in Software Development Services within a year either side disclosed an amount; the median was $175M, and this round was 86% of the median. The closest in time, other companies' Series D rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 15 Dec 2025 | $86M | $750M | Georgian and Hedosophia |
| Software Development Services | 26 Jun 2025 | $60M | not disclosed | Align Private Capital |
| AI21 Software Development Services | 10 May 2025 | $300M | not disclosed | not named |
| Decagon Software Development Services | 27 Jan 2026 | $250M | $4.50B | Coatue and Index Ventures |
| Snorkel AI Software Development Services | 29 May 2025 | $100M | $1.30B | Addition |
| Peregrine Software Development Services | 22 Jun 2026 | $250M | $6.80B | Fifth Down Capital and Sequoia Capital |
| Mistral AI Software Development Services | 8 Sep 2026 | $3.50B | $24.40B | Samsung Venture Investment and Scaleup Europe Fund |
| Software Development Services | 17 Sep 2024 | $90M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Baseten raise in its Series D round?
Baseten raised $150M in its Series D round, announced in Sep 2025.
Who led Baseten's Series D round?
BOND led it, with CapitalG, Premji Invest, Scribble Ventures, Conviction and 01A and 4 more.
What was Baseten's valuation at the Series D round?
$2.15B post-money ($2.00B pre-money).
How does it compare with other Series D rounds in Software Development Services?
8 Series D rounds in Software Development Services within a year either side disclosed an amount; the median was $175M, and this round was 86% of the median.
Did Baseten raise again after this round?
Yes: a Series E round in Jan 2026 of $300M at $5.00B post-money.