Funding round
Together AI Growth
Reported as "Growth Equity"
Together AI, which works in AI cloud infrastructure services in San Francisco, raised $106M in a Growth round announced on 13 Mar 2024, led by Salesforce Ventures, at a $1.25B post-money valuation. 13 firms took part, 10 of them already investors. It is Together AI's third venture round on record; the one before was a Series A in Nov 2023.
$106M
Amount raised
$1.25B
Post-money valuation
$1.14B pre-money
13
Investors
1 lead
8.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Together AI at $1.25B after the new money. The $106M bought investors about 8.5% of the company. It came 4 months after Together AI's Series A. It is 8.0% of the $1.33B Together AI has raised in the venture rounds on record. Together AI raised again 11 months later: a Series B round of $305M in Feb 2025, at $3.30B post-money.
Together AI's funding rounds
Together AI has 5 venture rounds on record. This one is highlighted.
- Seed 15 May 2023, led by Lux Capital $20M
- Series A 29 Nov 2023, led by Kleiner Perkins $102M
- Growth this round 13 Mar 2024, led by Salesforce Ventures $106M$1.25B post-money
- Series B 20 Feb 2025, led by General Catalyst and Prosperity7 Ventures $305M$3.30B post-money
- Series C 1 Jul 2026, led by Aramco Ventures $800M$8.30B post-money
Investors
Who put money in
Salesforce Ventures led the round with 12 other firms. Lux Capital, Kleiner Perkins, Emergence Capital and Prosperity7 Ventures and 6 more had backed Together AI before.
Lead investor
- Salesforce Ventures backs 314 venture-backed companies new investor
Also in the round
- Coatue backs 229 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies existing investor
- Kleiner Perkins backs 285 venture-backed companies existing investor
- backs 96 venture-backed companies existing investor
- backs 48 venture-backed companies existing investor
- New Enterprise Associates backs 286 venture-backed companies existing investor
- Greycroft backs 236 venture-backed companies existing investor
- Definition Capital existing investor
- backs 70 venture-backed companies existing investor
- Factory existing investor
- SV Angel backs 293 venture-backed companies existing investor
- Hugging Face new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
370 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $48M, and this round was 2.2 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Anthropic Tech Companies | 27 Mar 2024 | $2.75B | not disclosed | not named |
| Tech Companies | 20 Mar 2024 | $326M | not disclosed | not named |
| RapidSOS Tech Companies | 5 Mar 2024 | $150M | not disclosed | BlackRock |
| Claroty Tech Companies | 6 Mar 2024 | $100M | $2.50B | Delta-v |
| Tech Companies | 19 Mar 2024 | $60M | $1.00B | Riverwood Capital |
| Tech Companies | 14 Mar 2024 | $34M | not disclosed | Blossom Capital |
| Tech Companies | 28 Mar 2024 | $30M | not disclosed | Sequoia Capital and Cyberstarts |
| Tech Companies | 6 Mar 2024 | $27M | not disclosed | Elev8 Venture Partners and KB Investment |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Together AI raise in its Growth round?
Together AI raised $106M in its Growth round, announced in Mar 2024.
Who led Together AI's Growth round?
Salesforce Ventures led it, with Coatue, Lux Capital, Kleiner Perkins, Emergence Capital and Prosperity7 Ventures and 7 more.
What was Together AI's valuation at the Growth round?
$1.25B post-money ($1.14B pre-money).
How does it compare with other Growth rounds in Tech Companies?
370 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $48M, and this round was 2.2 times the median.
Did Together AI raise again after this round?
Yes: a Series B round in Feb 2025 of $305M at $3.30B post-money.