Crusoe valuation, funding and investors

Crusoe works in AI cloud platform development, based in Denver, United States. Founded in 2018, it has about 1,720 employees.

Hosting & Cloud Infrastructure Providers Denver Series F

VALUATION · TODAY

$31.73B +27% after Series F

Range $26.86B – $46.21B · Grade A

TODAY

+12 MO

$20.00B

$40.00B

$60.00B

2019

2020

2021

2022

2023

2024

2025

2026

2027

Seed $4.50M

Growth $30.0M

Series B $128M

Series C $350M

Series D $600M

Series E $1.38B

Series F $3.90B

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY1,720 employees

+45%6m growth

+105%1y growth

+421%2y growth

1,000

2,000

Data from Jan 2021

TODAY

Predicted in 1 yr $40.17B +27% vs today

Predicted next raise $4.42B if a round comes

Winding-down probability 0%

Last round: Series F · $3.90B · Sep 2026
Valuation at last round: $30.90B
Headcount: 1,720 · growing
Grade: A
Founded: 2018

How VCMC values companies →

Crusoe valuation today

VCMC values Crusoe at $31.7B today, with a range of $26.9B to $46.2B and a grade of A. The valuation starts from its last funding round, a Series F round in Sep 2026.

Valuation by date (114 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Crusoe: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2018	$8.90M	$3.24M – $24.4M	$12.2M (+37%)	before first round	–	unknown	D	0%
1 Feb 2018	$9.14M	$3.33M – $25.1M	$12.5M (+37%)	before first round	–	unknown	D	0%
1 Mar 2018	$9.36M	$3.41M – $25.7M	$12.8M (+37%)	before first round	–	unknown	D	0%
1 Apr 2018	$9.62M	$3.50M – $26.4M	$13.2M (+37%)	before first round	–	unknown	D	0%
1 May 2018	$9.87M	$3.59M – $27.1M	$13.5M (+37%)	before first round	–	unknown	D	0%
1 Jun 2018	$10.1M	$3.69M – $27.8M	$13.9M (+37%)	before first round	–	unknown	D	0%
1 Jul 2018	$10.4M	$3.79M – $28.6M	$14.3M (+37%)	before first round	–	unknown	D	0%
1 Aug 2018	$10.7M	$3.89M – $29.4M	$14.4M (+35%)	before first round	–	unknown	D	0%
1 Sep 2018	$11.0M	$4.00M – $30.2M	$14.5M (+32%)	before first round	–	unknown	D	0%
1 Oct 2018	$11.3M	$4.10M – $30.9M	$14.7M (+30%)	before first round	–	unknown	D	0%
1 Nov 2018	$11.6M	$4.21M – $31.8M	$14.8M (+28%)	before first round	–	unknown	D	0%
1 Dec 2018	$11.9M	$4.32M – $32.6M	$14.9M (+26%)	before first round	–	unknown	D	0%
1 Jan 2019	$12.2M	$4.44M – $33.5M	$15.1M (+24%)	before first round	–	unknown	D	0%
1 Feb 2019	$12.5M	$4.56M – $34.4M	$15.2M (+21%)	before first round	–	unknown	D	0%
1 Mar 2019	$30.0M	$19.7M – $91.3M	$60.0M (+100%)	after a round	–	unknown	C	0%
2 Mar 2019	$30.1M	$19.7M – $91.3M	$60.0M (+100%)	after a round	–	unknown	C	0%
1 Apr 2019	$31.8M	$19.7M – $91.3M	$60.0M (+89%)	after a round	–	unknown	C	0%
1 May 2019	$33.7M	$19.7M – $91.3M	$60.0M (+78%)	after a round	–	unknown	C	0%
1 Jun 2019	$35.7M	$19.7M – $91.3M	$60.0M (+68%)	after a round	–	unknown	C	0%
1 Jul 2019	$37.8M	$19.7M – $91.3M	$60.0M (+59%)	after a round	–	unknown	C	0%
1 Aug 2019	$40.1M	$19.7M – $91.3M	$60.0M (+50%)	after a round	–	unknown	C	0%
1 Sep 2019	$42.5M	$19.7M – $91.3M	$60.0M (+41%)	after a round	–	unknown	C	0%
1 Oct 2019	$45.0M	$19.7M – $91.3M	$60.0M (+33%)	after a round	–	unknown	C	0%
1 Nov 2019	$47.8M	$19.7M – $91.3M	$60.0M (+26%)	after a round	–	unknown	C	0%
1 Dec 2019	$50.6M	$19.7M – $91.3M	$60.0M (+19%)	after a round	–	unknown	C	0%
7 Dec 2019	$154M	$109M – $241M	$170M (+10%)	after a round	–	unknown	B	0%
1 Jan 2020	$155M	$109M – $241M	$170M (+9%)	after a round	–	unknown	B	0%
1 Feb 2020	$156M	$109M – $241M	$170M (+8%)	after a round	–	unknown	B	0%
1 Mar 2020	$158M	$109M – $241M	$170M (+8%)	after a round	–	unknown	B	0%
1 Apr 2020	$159M	$109M – $241M	$170M (+7%)	after a round	–	unknown	B	0%
1 May 2020	$160M	$109M – $241M	$170M (+6%)	after a round	–	unknown	B	0%
1 Jun 2020	$162M	$109M – $241M	$170M (+5%)	after a round	–	unknown	B	0%
1 Jul 2020	$163M	$109M – $241M	$170M (+4%)	after a round	–	unknown	B	0%
1 Aug 2020	$164M	$109M – $241M	$170M (+3%)	after a round	–	unknown	B	0%
1 Sep 2020	$165M	$109M – $241M	$170M (+3%)	after a round	–	unknown	B	0%
1 Oct 2020	$167M	$109M – $241M	$170M (+2%)	after a round	–	unknown	B	0%
1 Nov 2020	$168M	$109M – $241M	$170M (+1%)	after a round	–	unknown	B	0%
1 Dec 2020	$169M	$109M – $241M	$170M (0%)	after a round	–	unknown	B	0%
1 Jan 2021	$575M	$405M – $1.2B	$863M (+50%)	after a round	22	unknown	B	0%
2 Jan 2021	$576M	$405M – $1.2B	$863M (+50%)	after a round	22	unknown	B	0%
1 Feb 2021	$595M	$405M – $1.2B	$863M (+45%)	after a round	22	unknown	B	0%
1 Mar 2021	$614M	$405M – $1.2B	$863M (+40%)	after a round	22	unknown	B	0%
1 Apr 2021	$636M	$405M – $1.2B	$863M (+36%)	after a round	22	flat	B	0%
1 May 2021	$657M	$405M – $1.2B	$863M (+31%)	after a round	22	flat	B	0%
1 Jun 2021	$680M	$405M – $1.2B	$863M (+27%)	after a round	22	flat	B	0%
1 Jul 2021	$703M	$405M – $1.2B	$863M (+23%)	after a round	22	flat	B	0%
1 Aug 2021	$728M	$405M – $1.2B	$863M (+19%)	after a round	22	flat	B	0%
1 Sep 2021	$753M	$405M – $1.2B	$863M (+15%)	after a round	22	flat	B	0%
1 Oct 2021	$779M	$405M – $1.2B	$863M (+11%)	after a round	22	flat	B	0%
1 Nov 2021	$806M	$405M – $1.2B	$863M (+7%)	after a round	22	flat	B	0%
1 Dec 2021	$833M	$405M – $1.2B	$863M (+4%)	after a round	22	flat	B	0%
1 Jan 2022	$862M	$405M – $1.2B	$863M (0%)	after a round	22	flat	B	0%
1 Feb 2022	$863M	$388M – $1.2B	$863M (0%)	after a round	22	flat	B	0%
1 Mar 2022	$863M	$373M – $1.2B	$863M (0%)	after a round	22	flat	B	0%
1 Apr 2022	$1.2B	$569M – $1.7B	$1.2B (0%)	after a round	88	growing	B	0%
22 Apr 2022	$1.8B	$1.5B – $2.6B	$2.3B (+30%)	after a round	88	growing	A	0%
1 May 2022	$1.8B	$1.5B – $2.6B	$2.3B (+29%)	after a round	88	growing	A	0%
1 Jun 2022	$1.8B	$1.5B – $2.6B	$2.3B (+26%)	after a round	88	growing	A	0%
1 Jul 2022	$1.8B	$1.5B – $2.6B	$2.3B (+24%)	after a round	88	growing	A	0%
1 Aug 2022	$1.9B	$1.5B – $2.6B	$2.3B (+21%)	after a round	88	growing	A	0%
1 Sep 2022	$1.9B	$1.5B – $2.6B	$2.3B (+18%)	after a round	88	growing	A	0%
1 Oct 2022	$2.0B	$1.5B – $2.6B	$2.3B (+16%)	after a round	88	growing	A	0%
1 Nov 2022	$2.0B	$1.5B – $2.6B	$2.3B (+13%)	after a round	88	unknown	A	0%
1 Dec 2022	$2.1B	$1.5B – $2.6B	$2.3B (+11%)	after a round	88	unknown	A	0%
1 Jan 2023	$2.3B	$1.5B – $3.0B	$2.6B (+13%)	after a round	170	growing	B	0%
1 Feb 2023	$2.4B	$1.5B – $3.0B	$2.6B (+9%)	after a round	170	growing	B	0%
1 Mar 2023	$2.5B	$1.5B – $3.0B	$2.6B (+6%)	after a round	170	growing	B	0%
1 Apr 2023	$2.6B	$1.5B – $3.0B	$2.6B (+2%)	after a round	170	growing	B	0%
1 May 2023	$2.6B	$1.5B – $3.0B	$2.6B (0%)	after a round	170	growing	B	0%
1 Jun 2023	$2.6B	$1.6B – $3.0B	$2.6B (0%)	after a round	170	growing	B	0%
1 Jul 2023	$2.6B	$1.6B – $3.0B	$2.6B (0%)	after a round	170	growing	B	0%
1 Aug 2023	$2.6B	$1.6B – $3.0B	$2.6B (0%)	after a round	170	growing	B	0%
1 Sep 2023	$2.6B	$1.6B – $3.0B	$2.6B (0%)	after a round	170	growing	B	0%
1 Oct 2023	$2.9B	$1.7B – $3.3B	$2.9B (0%)	after a round	250	growing	B	0%
1 Nov 2023	$2.9B	$1.8B – $3.3B	$2.9B (0%)	after a round	250	growing	B	0%
1 Dec 2023	$2.9B	$1.8B – $3.3B	$2.9B (0%)	after a round	250	growing	A	0%
1 Jan 2024	$2.9B	$1.9B – $3.3B	$2.9B (0%)	after a round	250	growing	A	0%
1 Feb 2024	$2.9B	$1.9B – $3.3B	$2.9B (0%)	after a round	270	growing	A	0%
1 Mar 2024	$2.9B	$2.0B – $3.3B	$2.9B (0%)	after a round	270	growing	A	0%
1 Apr 2024	$2.9B	$2.0B – $3.3B	$2.9B (0%)	after a round	270	growing	A	0%
1 May 2024	$2.9B	$2.0B – $3.3B	$2.9B (0%)	after a round	270	growing	A	0%
1 Jun 2024	$2.9B	$2.0B – $3.3B	$2.9B (0%)	after a round	270	growing	A	0%
1 Jul 2024	$2.9B	$2.0B – $3.3B	$2.9B (0%)	after a round	270	growing	A	0%
1 Aug 2024	$3.0B	$1.5B – $3.5B	$3.0B (0%)	after a round	330	up	B	0%
1 Sep 2024	$3.0B	$1.5B – $3.5B	$3.0B (0%)	after a round	330	up	B	0%
1 Oct 2024	$3.0B	$1.5B – $3.5B	$3.0B (0%)	after a round	330	up	B	0%
1 Nov 2024	$3.3B	$2.2B – $3.8B	$3.3B (0%)	after a round	460	growing	A	0%
1 Dec 2024	$3.3B	$2.2B – $3.8B	$3.3B (0%)	after a round	460	growing	A	0%
13 Dec 2024	$2.8B	$2.4B – $4.2B	$3.6B (+30%)	after a round	460	growing	A	0%
1 Jan 2025	$2.8B	$2.4B – $4.2B	$3.6B (+28%)	after a round	460	growing	A	0%
1 Feb 2025	$2.9B	$2.4B – $4.2B	$3.6B (+25%)	after a round	460	growing	A	0%
1 Mar 2025	$3.0B	$2.4B – $4.2B	$3.6B (+23%)	after a round	460	growing	A	0%
1 Apr 2025	$3.0B	$2.4B – $4.2B	$3.6B (+20%)	after a round	460	growing	A	0%
1 May 2025	$3.1B	$2.4B – $4.2B	$3.6B (+18%)	after a round	460	growing	A	0%
1 Jun 2025	$3.2B	$2.4B – $4.2B	$3.6B (+15%)	after a round	460	growing	A	0%
1 Jul 2025	$3.2B	$2.4B – $4.2B	$3.6B (+13%)	after a round	460	growing	A	0%
1 Aug 2025	$3.5B	$2.4B – $4.6B	$4.0B (+14%)	after a round	724	growing	B	0%
1 Sep 2025	$3.6B	$2.4B – $4.6B	$4.0B (+11%)	after a round	724	growing	B	0%
1 Oct 2025	$3.8B	$2.4B – $4.8B	$4.2B (+8%)	after a round	837	growing	B	0%
25 Oct 2025	$10.0B	$8.7B – $15.0B	$13.0B (+30%)	after a round	837	growing	A	0%
1 Nov 2025	$10.1B	$8.7B – $15.0B	$13.0B (+29%)	after a round	837	growing	A	0%
1 Dec 2025	$10.3B	$8.7B – $15.0B	$13.0B (+26%)	after a round	837	growing	A	0%
1 Jan 2026	$10.5B	$8.7B – $15.0B	$13.0B (+24%)	after a round	837	growing	A	0%
1 Feb 2026	$10.7B	$8.7B – $15.0B	$13.0B (+21%)	after a round	837	growing	A	0%
1 Mar 2026	$11.3B	$8.7B – $16.2B	$14.0B (+25%)	after a round	1,189	growing	B	0%
1 Apr 2026	$11.6B	$8.7B – $16.2B	$14.0B (+21%)	after a round	1,189	growing	B	0%
1 May 2026	$12.2B	$8.7B – $16.8B	$14.6B (+20%)	after a round	1,418	growing	B	0%
1 Jun 2026	$12.6B	$8.7B – $16.8B	$14.6B (+16%)	after a round	1,418	growing	B	0%
1 Jul 2026	$13.1B	$8.7B – $17.1B	$14.9B (+13%)	after a round	1,547	growing	B	0%
1 Aug 2026	$13.6B	$8.7B – $17.1B	$14.9B (+10%)	after a round	1,547	growing	B	0%
1 Sep 2026	$14.0B	$8.7B – $17.1B	$14.9B (+6%)	after a round	1,547	growing	B	0%
18 Sep 2026	$30.9B	$26.9B – $46.2B	$40.2B (+30%)	after a round	1,720	growing	A	0%
1 Oct 2026	$31.2B	$26.9B – $46.2B	$40.2B (+29%)	after a round	1,720	growing	A	0%
24 Oct 2026	$31.7B	$26.9B – $46.2B	$40.2B (+27%)	after a round	1,720	growing	A	0%

Key facts about Crusoe

Founded: 2018
Headquarters: Denver, United States
Employees: about 1,720 +106% in a year
Total raised: $7.69B
Funding rounds: 11
Last round: Series F Sep 2026

Crusoe was founded in 2018 by Chase Lochmiller and Cully Cavness.

Crusoe funding history

Crusoe has 11 funding rounds on record, from Mar 2019 to Sep 2026, $7.69B in total. The latest disclosed valuation is $30.90B post-money (Series F, Sep 2026).

Series F 17 Sep 2026
Led by Atreides Management, Mubadala Capital, Valor; with Founders Fund, GIC, NVIDIA, Qatar Investment Authority, Radical Ventures, TPG, 1789 Capital, Activate Capital, Altimeter, ARK Invest, Avenir, Baillie Gifford, BAM Elevate, BDT & MSD Partners, Clal Insurance and Finance, Darsana, DPR Construction, Era Funds, Fidelity Management & Research Company, Fundrise, Galvanize, M37, OIA, Polychain, Ribbit, Robinhood Ventures Fund I (RVI), SemiAnalysis Capital, Salesforce Ventures, Squarepoint Capital, StepStone Group, T. Rowe Price, Tiger Global, Upper90, VanEck, XN, Zigg Capital. Individuals: JB Straubel.
Sources: crusoe.ai, cooley.com, techcrunch.com and 4 more
$3.90B
$30.90B post-money
Series E 24 Oct 2025
Led by Valor, Mubadala Capital; with 137 Ventures, 1789 Capital, Activate Capital, Altimeter, Atreides Management, BAM Elevate, DPR Construction, Ora Global, Fidelity Management & Research Company, Founders Fund, Franklin Templeton, Galvanize, Long Journey Ventures, Lowercarbon Capital, M37 Management, MCJ Collective, NVIDIA, Radical Ventures, Ribbit, Salesforce Ventures, Saquon Barkley, Spark Capital, StepStone Group, Supermicro, T. Rowe Price, Tiger Global, Upper90, Winklevoss Capital, Zigg Capital, Blue Owl Capital.
Sources: crusoe.ai, finance.yahoo.com, environmentenergyleader.com and 5 more
$1.38B
$10.00B post-money
Debt 25 Aug 2025no round page
Led by Victory Park Capital.
Sources: finsmes.com, abladvisor.com, superbcrew.com
$175M
$2.80B post-money
Other 11 Jun 2025no round page
Led by Brookfield.
Sources: hudsonpoint.com, crusoe.ai, nortonrosefulbright.com and 1 more
$750M
Debt 27 Mar 2025no round page
Led by Upper90; with British Columbia Investment Management Corporation, FS Investors, King Street, Liberty Mutual Investments, ORIX USA.
Sources: datacenterdynamics.com, abfjournal.com
$225M
Series D 12 Dec 2024
Led by Founders Fund; with Fidelity, Long Journey Ventures, Mubadala, NVIDIA, Ribbit, Valor, Felicis.
Sources: finsmes.com, crusoe.ai, esgtoday.com and 9 more
$600M
$2.80B post-money
Series C 21 Apr 2022
Led by G2 Venture Partners; with Valor, Lowercarbon Capital, Polychain, Bain Capital Ventures, Founders Fund, MCJ Collective, Winklevoss Capital, FootPrint Coalition, Zigg Capital, DRW, Atreides Management, Exor Seeds, CMT Digital, Upper90, Inclusive Capital Partners, Engine No. 1, Tao Capital, Felicis, Castle Island Ventures, Mitsui Global Investment.
Sources: crusoe.ai, forklog.com, blog.amch.ltd and 8 more
$350M
$1.75B post-money
Debt 21 Apr 2022no round page
With SVB Capital, Sparkfund, Generate Capital.
Sources: crusoe.ai, finsmes.com
$155M
Series B 1 Jan 2021
Led by Valor.
Sources: tsginvest.com, crusoe.ai, datacenterdynamics.com and 2 more
$128M
Growth Equity 6 Dec 2019
Led by Bain Capital Ventures, KCK Financial Services; with Founders Fund, Winklevoss Capital, Polychain.
Sources: prnewswire.com, pulse2.com, globalfintechseries.com and 1 more
$30M
Seed 1 Mar 2019
Investors not disclosed.
Sources: tsginvest.com
$4.5M

Crusoe investors

76 investors have backed Crusoe; Founders Fund, Valor and Upper90 and 7 more led at least one round.

Founders Fund lead, 5 rounds
Valor lead, 5 rounds
Atreides Management lead, 3 rounds
Bain Capital Ventures lead, 2 rounds
Mubadala Capital lead, 2 rounds
Brookfield lead
NVIDIA 3 rounds
Ribbit 3 rounds
1789 Capital 2 rounds
Altimeter 2 rounds
BAM Elevate 2 rounds
DPR Construction 2 rounds
Felicis 2 rounds
Fidelity Management & Research Company 2 rounds
Lowercarbon Capital 2 rounds
Salesforce Ventures 2 rounds
StepStone Group 2 rounds
T. Rowe Price 2 rounds
Tiger Global 2 rounds
137 Ventures
ARK Invest
Baillie Gifford
BDT & MSD Partners
Blue Owl Capital
Clal Insurance and Finance
Darsana
Exor Seeds
Fidelity
Franklin Templeton
Fundrise
GIC
Inclusive Capital Partners
Liberty Mutual Investments
M37
M37 Management
Mubadala
OIA
Qatar Investment Authority
Robinhood Ventures Fund I (RVI)
Saquon Barkley
SemiAnalysis Capital
Spark Capital
Sparkfund
Squarepoint Capital
Supermicro
SVB Capital
TPG
XN

What Crusoe does

Crusoe works in hosting & cloud infrastructure providers, with 15 recorded offerings and customers in energy, manufacturing and data centers.

Crusoe, Inc is an American technology infrastructure company engaged in renewable-powered AI infrastructure. The company provides AI cloud platforms, data center infrastructure, and AI data center services, with a focus on supporting AI workloads and data center operations. Crusoe operates data centers in Iceland, Norway, and the Middle East, and utilizes proprietary technologies such as MemoryAlloy and the Crusoe Intelligence Foundry to enable ultra-low latency and scalable throughput for large-context AI workloads. The company serves a range of industries, including manufacturing, energy, and data centers, and is committed to sustainability by utilizing renewable energy sources and reducing greenhouse gas emissions.

Description from Veridion's company data.

Products and services

AI Cloud Platform Development
AI Workload Training and Deployment Services
Data Center Infrastructure Development
AI Data Center Services
Renewable Energy Integration Services
High-Performance Computing Hardware Deployment
AI Infrastructure Optimization Consulting
Fault-Tolerant Cluster Deployment
Managed Kubernetes Deployment Services
Accelerated Storage Integration Services
RDMA Networking Implementation
MemoryAlloy Technology Integration
Scalable AI Infrastructure Solutions
Industry-Specific AI Infrastructure Services
Sustainable Computing Solutions

Markets

Energy
Manufacturing
Data Centers

Technology

MemoryAlloy
Proprietary AI Infrastructure Technologies
Carbon Capture Technology
NVIDIA and AMD GPUs
Accelerated Storage
RDMA Networking
Fault-Tolerant AutoClusters
Managed Kubernetes
Slurm
Large-Context AI Workloads

Business model

Business-to-Business
Service Provider
Software-as-a-Service
Enterprise

Industry codes (NAICS)

518210 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services 70% match
541512 Computer Systems Design Services 30% match

Questions about Crusoe

What is Crusoe worth?

Valuation $31.7B (range $26.9B to $46.2B), as of 24 Oct 2026. The last disclosed valuation was $30.90B (Series F, Sep 2026).

Has Crusoe raised money?

Crusoe has 11 funding rounds on record, from Mar 2019 to Sep 2026, $7.69B in total. The latest disclosed valuation is $30.90B post-money (Series F, Sep 2026).

Who has invested in Crusoe?

Founders Fund, Valor, Upper90, Atreides Management, Bain Capital Ventures and Mubadala Capital, and 70 more. Lead investors include Founders Fund, Valor, Upper90 and Atreides Management.

How many people work at Crusoe?

About 1,720, up 106% over the last year. Headcount grew from 22 in Jan 2021 to 1,720 in Sep 2026.

What does Crusoe do?

Crusoe works in hosting & cloud infrastructure providers, with 15 recorded offerings and customers in energy, manufacturing and data centers. Its main offerings are AI cloud platform development, AI workload training and deployment services and data center infrastructure development.

When was Crusoe founded, and where is it based?

Crusoe was founded in 2018 and is based in Denver, United States. It has about 1,720 employees, up 106% over the last year.

How we value companies Report an issue

Crusoe valuation, funding and investors

Crusoe valuation today

Key facts about Crusoe

Crusoe funding history

Series F 17 Sep 2026

Series E 24 Oct 2025

Debt 25 Aug 2025no round page

Other 11 Jun 2025no round page

Debt 27 Mar 2025no round page

Series D 12 Dec 2024

Series C 21 Apr 2022

Debt 21 Apr 2022no round page

Series B 1 Jan 2021

Growth Equity 6 Dec 2019

Seed 1 Mar 2019