Funding round
Together AI Seed
Together AI, which works in AI cloud infrastructure services in San Francisco, raised $20M in a Seed round announced on 15 May 2023, led by Lux Capital. 20 firms took part. It is Together AI's first venture round on record.
$20M
Amount raised
Not disclosed
Post-money valuation
20
Investors
1 lead
Valuation
What this round says about the price
Together AI did not disclose a valuation in this round. It is Together AI's first venture round on record, 1 year after it was founded in 2022. It is 1.5% of the $1.33B Together AI has raised in the venture rounds on record. Together AI raised again 6 months later: a Series A round of $102M in Nov 2023. Its next priced round, a Growth in Mar 2024, valued it at $1.25B.
Together AI's funding rounds
Together AI has 5 venture rounds on record. This one is highlighted.
- Seed this round 15 May 2023, led by Lux Capital $20M
- Series A 29 Nov 2023, led by Kleiner Perkins $102M
- Growth 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
Lux Capital led the round with 19 other firms.
Lead investor
- Lux Capital backs 194 venture-backed companies new investor
Also in the round
- Factory new investor
- SV Angel backs 293 venture-backed companies new investor
- backs 212 venture-backed companies new investor
- backs 70 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- Robot Ventures new investor
- Common Metal new investor
- Definition Capital new investor
- backs 108 venture-backed companies new investor
- backs 26 venture-backed companies new investor
- SCB 10x new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- backs 96 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- NVIDIA new investor
- New Enterprise Associates backs 286 venture-backed companies new investor
- Greycroft backs 236 venture-backed companies new investor
- 137 Ventures backs 25 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
2,409 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.5M, and this round was 5.7 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 16 May 2023 | $50M | not disclosed | General Catalyst and Andreessen Horowitz |
| Tech Companies | 30 May 2023 | $28M | not disclosed | Race Capital |
| Tech Companies | 16 May 2023 | $21M | not disclosed | Square Peg |
| Tech Companies | 9 May 2023 | $14M | not disclosed | not named |
| Tech Companies | 11 May 2023 | $13M | not disclosed | ABN AMRO Ventures and Motive Partners |
| Tech Companies | 22 May 2023 | $11M | not disclosed | Newark Venture Partners and Quiet Capital |
| Tech Companies | 23 May 2023 | $9.0M | not disclosed | Bluefish Ventures and Penny Jar Capital |
| Tech Companies | 1 May 2023 | $8.3M | not disclosed | Thrive Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Together AI raise in its Seed round?
Together AI raised $20M in its Seed round, announced in May 2023.
Who led Together AI's Seed round?
Lux Capital led it, with Factory, SV Angel, First Round, Long Journey Ventures and A.Capital and 14 more.
What was Together AI's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
2,409 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.5M, and this round was 5.7 times the median.
Did Together AI raise again after this round?
Yes: a Series A round in Nov 2023 of $102M.