Rescale Secures $32 Million in Series B Round
Enterprise big compute in the cloud provider Rescale completed its Series B round of $32 million in funding, raising total investment in the company to $52 million. Initialized Capital, Keen Venture Partners and SineWave Ventures led the round, joining 30 existing and new investors including Sam Altman, Jeff Bezos, Richard Branson, Chris Dixon, Paul Graham, Ken Hao, Adam Smith, Peter Thiel, Steve Westly, Data Collective, ITV Ventures, Jump Capital, M12 (formerly Microsoft Ventures), Mitsubishi UFJ Capital, Quiet Capital, Streamlined Ventures, Translink Capital, Two Roads Group, and Y Combinator.
The investment supports Rescale’s commitment to providing the largest and most powerful high performance computing infrastructure in the cloud, optimizing customers’ digital transformation strategy to drive accelerated innovation. According to the company, it grew 30% month over month in 2017.
Rescale plans to use the funds to invest in talent and develop the next generation of security and platform enhancements.