Tech Company Financing Transactions
Paperspace Funding Round
Paperspace secured a $111 million financing round on 7/6/2023. Investors included DigitalOcean.
Transaction Overview
Company Name
Announced On
7/6/2023
Transaction Type
Venture Equity
Amount
$111,000,000
Round
Undisclosed
Investors
DigitalOcean (Lead Investor)
Proceeds Purpose
Paperspace initially focused on low-cost virtual machines, providing high-performance workstations for design, visualization and gaming in the cloud. But as AI entered the mainstream, Paperspace leaned hard into its AI offerings, launching a suite of tools designed for developing, training, deploying and hosting AI models in the cloud.
Company Information
Company Status
Private & Independent
Industry
Internet & IoT
Mailing Address
78 South 4th St. 3
Brooklyn, NY 11249
USA
Brooklyn, NY 11249
USA
Phone
Undisclosed
Website
Email Address
Overview
Paperspace started with the idea that buying and managing computers is an unnecessarily painful and expensive process. By renting a powerful desktop in the cloud, it is finally possible to get rid of the distraction and focus on what you love to do instead.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Co-Founder
Dillon Erb
Co-Founder
Daniel Kobran
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We report on every notable VC transaction. All VC database entries reported here are derived from news reports and company announcements. The data is sourced from VentureDeal.com, an affiliated venture.
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