# Paperspace Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paperspace

- Industry: Software
- Headquarters: Brooklyn, US
- Website: www.paperspace.com
- Total disclosed funding: $23M
- Latest round: Series A (Aug 27, 2018)
- Investors on record: 13

## About

Based in the US, Paperspace Co. delivers advanced cloud solutions tailored for artificial intelligence (AI) and machine learning (ML) development, enabling users to efficiently train and deploy complex models across various industries.Founded in 2014 and headquartered in Brooklyn, US, Paperspace Co. specializes in cloud infrastructure for AI and ML applications. The company was established by Daniel Kobran and has engaged in a total of 8 funding deals. The latest funding round, an Add-on Trade Sale, took place on July 6, 2023, with DigitalOcean, LLC leading the investment. Paperspace has successfully raised a total of USD 6.18 mn, with the latest round amounting to USD 111.00 mn.Paperspace specializes in cloud-based infrastructure and services designed to facilitate the development, training, and deployment of artificial intelligence (AI) and machine learning (ML) models. Their core offerings include a fully-managed cloud GPU platform equipped with NVIDIA H100 GPUs, which enables users to handle AI workloads of varying sizes and complexities. The platform provides pre-configured templates for rapid model training and scaling, with features such as job scheduling, resource provisioning, and lifecycle management, thereby minimizing the need for direct server management. Targeted at individual developers, startups, and larger enterprises, Paperspace's services are utilized across various geographical markets, including North America, Europe, and Asia, addressing the growing demand for efficient and scalable AI solutions.Paperspace generates revenue primarily through a usage-based pricing model that allows clients to pay for only the compute resources they utilize, enabling flexibility in scaling operations. The company offers various subscription plans to access different tiers of GPU compute power and services, facilitating transactions that cater to both business-to-business (B2B) clients and direct-to-consumer users. For instance, clients engaging with Paperspace can select from a range of GPU instances based on their specific needs, allowing for efficient budget management while accessing high-performance resources. The firm emphasizes a transparent billing approach, empowering users to adjust their service levels as their project demands evolve.In July 2023, DigitalOcean, LLC acquired Preqin, Ltd. for USD 111 mn, which will enable the company to enhance product development capabilities. Paperspace is likely to leverage its recent funding to bolster its existing services and explore new product offerings aimed at expanding into additional markets, particularly in Europe and Asia by the end of 2024. The company plans to introduce innovative solutions that will cater to the evolving needs of its diverse clientele.

## Funding rounds

- Series A, Aug 27, 2018, $19M — Battery Ventures, Intel Capital, Sorenson Capital, Initialized Capital, SineWave Ventures
- Seed, Oct 4, 2016, $4M — Ludlow Ventures, Initialized Capital, DCVC
- Seed, Mar 1, 2015 — Transmedia Capital, Ludlow Ventures, Queensbridge Venture Partners, Zillionize Angel, Fusion Fund
- Seed, Jan 6, 2015, $0.1M — Y Combinator, Queensbridge Venture Partners, Center Electric Ventures

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Queensbridge Venture Partners (https://capitalatlas.ai/funds/queensbridge-venture-partners) — Seed
- Center Electric Ventures (https://capitalatlas.ai/funds/center-electric-ventures) — Seed
- Transmedia Capital (https://capitalatlas.ai/funds/transmedia-capital) — Seed
- Ludlow Ventures (https://capitalatlas.ai/funds/ludlow-ventures) — Seed
- Zillionize Angel (https://capitalatlas.ai/funds/zillionize-angel) — Seed
- Fusion Fund (https://capitalatlas.ai/funds/fusion-fund) — Seed
- Initialized Capital (https://capitalatlas.ai/funds/initialized-capital) — Seed, Series A
- DCVC (https://capitalatlas.ai/funds/dcvc) — Seed
- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Series A
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series A
- Sorenson Capital (https://capitalatlas.ai/funds/sorenson-capital) — Series A
- SineWave Ventures (https://capitalatlas.ai/funds/sinewave-ventures) — Series A