California-based Baseten has raised $1.5bn in a Series F round to support its AI training and inference platform, which enables organisations to train, deploy, and serve AI models at scale with a focus on performance and cost efficiency.
The funding round included investments made across two tranches, at company valuations of $13bn and $11bn respectively.
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It was led by Altimeter Capital, Conviction, and Spark Capital, with Sands Capital and Wellington Management participating as co-leads.
Other investors involved include IVP, 01A, Greylock, Durable Capital Partners, Blackbird, Verified Capital, Battery Ventures, and D. E. Shaw Ventures, alongside existing shareholders.
Prior to this, in January 2026, Baseten secured $300m in a Series E round led by anchor investors IVP, CapitalG, and Nvidia, valuing the company at $5bn.
Baseten stated that the fresh capital from Series F reflects ongoing demand for inference capabilities at the application layer, as closed source and open source models increasingly converge in terms of performance, cost, and customisation.
As AI-related economics evolve, Baseten reported that post-trained open source models are providing high-level performance at lower costs.
According to the company, leading application-layer firms now dedicate 30% to 50% of model expenditure to customised and post-trained models.
Baseten’s platform supports organisations pursuing a multi-model approach, including the use of both frontier and tailored post-trained models for various workflows and use cases.
The company noted significant expansion in its business metrics, indicating that its revenue has increased by approximately 20 times year-over-year.
Its platform is now processing over one billion inference calls every day, operating across 87 clusters worldwide and spanning 18 cloud providers. Baseten described its multi-cloud infrastructure as a key element of its offering.
Baseten CEO and co-founder Tuhin Srivastava said: “The future of AI will be built on millions of specialised models, and the companies building the best ones know that post-training has become existential. It’s how they build intelligence they own, on data that’s theirs, optimised for the customers they serve.
“The companies closing this loop fastest are using Baseten to build a system that compounds in value over time. We’re grateful to our investors for their conviction that Baseten is where that future gets built, and to the team and customers who’ve made us worthy of it.”
The new funds are set to be used for recruitment, computing resources, and advancing the company’s enterprise strategies.
Baseten plans to increase its headcount threefold this year, with hiring focused on engineering, research, operations, and go-to-market teams.
Altimeter Capital partner Apoorv Agrawal said: “The inference market is compounding faster than almost anything we’ve seen, and some of the most sophisticated AI companies in the world are standardising on Baseten to power it.
“What we see in Baseten is rare: a company growing at this speed, with this level of customer trust, building infrastructure the entire ecosystem depends on. We are proud to deepen our partnership with this team.”
