Paperspace wants to help developers build artificial intelligence and machine learning applications with a software/hardware development platform powered by GPus and other powerful chips. Today, the Winter 2015 Y Combinator grads announced a $13 million Series A.
Battery Ventures led the round with participation from SineWave Ventures, Intel Capital and Sorenson Ventures. Existing investor Initialized Capital also participated. Today’s investment brings the total amount to $19 million raised.
Dharmesh Thakker, a general partner with Battery Ventures sees Paperspace as being in the right place at the time. As AI and machine learning take off, developers need a set of tools and GPU-fueled hardware to process it all. “Major silicon, systems and Web-scale computing providers need a cloud-based solution and software ‘glue’ to make deep learning truly consumable by data-driven organizations, and Paperspace is helping to provide that,” Thakker said in a statement.
Paperspace provides its own GPU-powered servers to help in this regard, but co-founder and CEO Dillon Erb says they aren’t trying to compete with the big cloud vendors. They offer more than a hardware solution to customers. Last spring, the company released Gradient, a serverless tool to make it easier to deploy and manage AI and machine learning workloads.
By making Gradient a serverless management tool, customers don’t have to think about the underlying infrastructure. Instead, Paperspace handles all of that for them providing the resources as needed. “We do a lot of GPU compute, but the big focus right now and really where the investors are buying into with this fundraise, is the idea that we are in a really unique position to kind of build out a software layer and abstract a lot of that infrastructure away [for our customers],” Erb told TechCrunch.
He says that building some of the infrastructure was an important early step, but they aren’t trying to compete with the cloud vendors. They are trying to pro..