Funding round
Lambda Series C
Lambda, which works in AI computing solutions development in San Jose, raised $320M in a Series C round announced on 15 Feb 2024, led by United States Innovative Technology, at a $1.50B post-money valuation. 9 firms took part, 6 of them already investors. It is Lambda's first venture round on record.
$320M
Amount raised
$1.50B
Post-money valuation
$1.18B pre-money
9
Investors
1 lead
21%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Lambda at $1.50B after the new money. The $320M bought investors about 21% of the company. It is Lambda's first venture round on record, 12 years after it was founded in 2012. It is 40% of the $800M Lambda has raised in the venture rounds on record. Lambda raised again 18 months later: a Series D round of $480M in Aug 2025, at $4.00B post-money.
Lambda's funding rounds
Lambda has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series C this round 15 Feb 2024, led by United States Innovative Technology $320M$1.50B post-money
- Debt not a venture round 4 Apr 2024, led by Macquarie $500M
- Series D 18 Aug 2025, led by Andra Capital and SGW $480M$4.00B post-money
Investors
Who put money in
United States Innovative Technology led the round with 8 other firms. T. Rowe Price Associates, Inc., Crescent Cove, Mercato and 1517 Fund and 2 more had backed Lambda before.
Lead investor
- backs 20 venture-backed companies new investor
Also in the round
- B Capital backs 156 venture-backed companies new investor
- SK Telecom new investor
- T. Rowe Price Associates, Inc. existing investor
- backs 9 venture-backed companies existing investor
- backs 27 venture-backed companies existing investor
- backs 22 venture-backed companies existing investor
- Bloomberg Beta existing investor
- backs 141 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series C rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hosting & Cloud Infrastructure Providers | 28 Jun 2023 | $70M | not disclosed | EQT Ventures |
| Hosting & Cloud Infrastructure Providers | 31 May 2023 | $10M | not disclosed | not named |
| Hosting & Cloud Infrastructure Providers | 21 Jan 2025 | $80M | not disclosed | Georgian |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Lambda raise in its Series C round?
Lambda raised $320M in its Series C round, announced in Feb 2024.
Who led Lambda's Series C round?
United States Innovative Technology led it, with B Capital, SK Telecom, T. Rowe Price Associates, Inc., Crescent Cove and Mercato and 3 more.
What was Lambda's valuation at the Series C round?
$1.50B post-money ($1.18B pre-money).
Did Lambda raise again after this round?
Yes: a Series D round in Aug 2025 of $480M at $4.00B post-money.