This is because multimodal AI startup Fal.ai has raised series C funding of $750 million and achieved a post-money valuation of over $4 billion. This new round of investment comes less than three months after the company announced a $125 million Series C funding led by Meritech at a valuation of $1.5 billion. This latest funding round is a remarkable reflection of investor confidence in Fal.ai’s cutting edge infrastructure for multimodal AI applications.
Burkay Gur and Gorkem Yurtseven started Fal.ai in 2021. Since then, the company has quickly positioned itself as a leader in providing developers essential tools for building multimodal AI models. The firm has previously raised money at several times the current valuation with about $200 million before this round, PitchBook data shows. Major backers in this most recent round include notable VC firms Kleiner Perkins and Sequoia.
From its launch earlier this year, Fal.ai has grown rapidly. Only a year ago, the company was claiming $10 million ARR. At the time, there were about a half million developers regularly using its platform. Fast forward to today and Fal’s revenue has exploded to over $95M. Moreover, over two million developers have come to actively embrace its platform. This astounding growth, we believe, is a representation of just how quickly users are adopting applications that have been built on top of Fal’s infrastructure.
Fal.ai’s expertise is in developing an intelligent cloud fabric. It gets designed with thousands of Nvidia H100 and H200 GPUs, all optimized for super fast inference. The platform gives developers access to more than 600 images, video, audio, and 3D models. This allows them to design multiple applications with the new flexibility afforded to different media types.
The intense consumer demand for applications such as Sora shows that there is a considerable market opportunity for Fal.ai’s products. As more developers start using these tools, the company’s growth trajectory looks to be on an up and up path.
Co-founder Burkay Gur adds some valuable experience to the young startup. He was previously a director of machine learning at Coinbase and an engineer at Oracle. His partner Gorkem Yurtseven has a remarkable pedigree, including experience as a developer at Amazon. Their unified knowledge makes Fal.ai a true contender in the quickly changing AI field.
