Funding round
Fireworks AI Series B
Fireworks AI, which works in generative AI model development in San Mateo, raised $52M in a Series B round announced on 11 Jul 2024, led by Sequoia Capital, at a $552M post-money valuation. 6 firms took part. It is Fireworks AI's second venture round on record; the one before was a Series A in Mar 2024.
$52M
Amount raised
$552M
Post-money valuation
$500M pre-money
6
Investors
1 lead
9.4%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Fireworks AI at $552M after the new money. The $52M bought investors about 9.4% of the company. It came 4 months after Fireworks AI's Series A. It is 2.8% of the $1.83B Fireworks AI has raised in the venture rounds on record. Fireworks AI raised again 15 months later: a Series C round of $250M in Oct 2025, at $4.00B post-money.
Fireworks AI's funding rounds
Fireworks AI has 4 venture rounds on record. This one is highlighted.
- Series A 27 Mar 2024, led by Benchmark $25M
- Series B this round 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
Sequoia Capital led the round with 5 other firms.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- NVIDIA new investor
- AMD new investor
- MongoDB Ventures new investor
- Benchmark new investor
- Databricks Ventures new investor
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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
600 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.7 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 8 Jul 2024 | $130M | $700M | Andreessen Horowitz |
| Tech Companies | 24 Jul 2024 | $58M | not disclosed | Left Lane Capital |
| Tech Companies | 8 Jul 2024 | $50M | not disclosed | CRV |
| Tech Companies | 12 Jul 2024 | $44M | not disclosed | Eight Roads |
| Tech Companies | 23 Jul 2024 | $36M | not disclosed | Scale Venture Partners |
| Tech Companies | 1 Jul 2024 | $34M | not disclosed | Concord Health Partners |
| Tech Companies | 17 Jul 2024 | $30M | not disclosed | Threshold |
| Tech Companies | 18 Jul 2024 | $26M | not disclosed | Drive Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Fireworks AI raise in its Series B round?
Fireworks AI raised $52M in its Series B round, announced in Jul 2024.
Who led Fireworks AI's Series B round?
Sequoia Capital led it, with NVIDIA, AMD, MongoDB Ventures, Benchmark and Databricks Ventures.
What was Fireworks AI's valuation at the Series B round?
$552M post-money ($500M pre-money).
How does it compare with other Series B rounds in Tech Companies?
600 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.7 times the median.
Did Fireworks AI raise again after this round?
Yes: a Series C round in Oct 2025 of $250M at $4.00B post-money.