Funding round
Fireworks AI Series A
Fireworks AI, which works in generative AI model development in San Mateo, raised $25M in a Series A round announced on 27 Mar 2024, led by Benchmark. 6 firms took part. It is Fireworks AI's first venture round on record.
$25M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Fireworks AI did not disclose a valuation in this round. It is Fireworks AI's first venture round on record, 2 years after it was founded in 2022. It is 1.4% of the $1.83B Fireworks AI has raised in the venture rounds on record. Fireworks AI raised again 4 months later: a Series B round of $52M in Jul 2024, at $552M post-money.
Fireworks AI's funding rounds
Fireworks AI has 4 venture rounds on record. This one is highlighted.
- Series A this round 27 Mar 2024, led by Benchmark $25M
- Series B 11 Jul 2024, led by Sequoia Capital $52M$552M post-money
- Series C 28 Oct 2025, led by Lightspeed Venture Partners, Index Ventures and Evantic $250M$4.00B post-money
- Series D 15 Jul 2026, led by Atreides Management, Index Ventures and Technology Crossover Ventures $1.50B$17.50B post-money
Investors
Who put money in
Benchmark led the round with 5 other firms.
Lead investor
- Benchmark new investor
Also in the round
- Sequoia Capital backs 589 venture-backed companies new investor
- Databricks Ventures new investor
- NVIDIA new investor
- AMD new investor
- MongoDB Ventures new investor
Joined the board: Eric Vishria (Benchmark).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
1,425 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 2.3 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 13 Mar 2024 | $111M | not disclosed | not named |
| Tech Companies | 26 Mar 2024 | $100M | $1.00B | FinSight Ventures and Xanara Investment Management |
| Tech Companies | 25 Mar 2024 | $47M | not disclosed | not named |
| Tech Companies | 28 Mar 2024 | $42M | not disclosed | Target Global and Astanor |
| Tech Companies | 7 Mar 2024 | $35M | not disclosed | Sapphire Ventures and Ansa |
| Tech Companies | 6 Mar 2024 | $33M | not disclosed | Evolution Equity Partners |
| Tech Companies | 4 Mar 2024 | $32M | not disclosed | Fin Capital and Glilot Capital |
| Tech Companies | 14 Mar 2024 | $30M | not disclosed | AlleyCorp and Obvious |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Fireworks AI raise in its Series A round?
Fireworks AI raised $25M in its Series A round, announced in Mar 2024.
Who led Fireworks AI's Series A round?
Benchmark led it, with Sequoia Capital, Databricks Ventures, NVIDIA, AMD and MongoDB Ventures.
What was Fireworks AI's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,425 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 2.3 times the median.
Did Fireworks AI raise again after this round?
Yes: a Series B round in Jul 2024 of $52M at $552M post-money.