Turing, an AI infrastructure startup that accelerates advancement and deployment of AI systems, has secured $111 million in Series E funding, raising its valuation to $2.2 billion.
The round was led by Malaysian sovereign wealth fund Kazanana Sional Bellhad and was supported by Westbridge Capital, Sozoventure, uphonest Capital, Altaia Capital, Amino Capital, Plug and Play, MVP Ventures, Fortius Ventures, Gehningel and Mastodon Capital Management. This latest round has pushed the company’s total funding to $225 million since it was founded seven years ago.
Turing has a strong growth trajectory, reaching $167 million in annual revenue driving fees (ARRs) at pricing. According to CEO Jonathan Siddharth, the company currently brings in an ARR of around $300 million, making profits for about a year. This funding will help the company expand its reach and services, thus helping it expand its R&D, sales and marketing.
From HR Tech to AI Partners
Founded in 2018, Turing started out as a human resources and technology company, creating a platform for hiring remote engineers with veterinarians. Services began during the pandemic as businesses scrambled better ways to manage remote teams. It didn’t take long for Turing to attract attention and attract both investors and corporate clients.
The transition to AI was not part of the original plan, but the unexpected meeting in 2022 changed that. Openai invited Siddharth to discuss the recruiting engineers, but instead they had a different proposition. Researchers discovered that code integrated into the training dataset would help improve inference in AI models, and hoped that Turing would help generate that data. That request sparked a new line of business, turning Turing into a key partner for companies collaborating on AI Labs and Large Language Models (LLMS).
Today, startups work with thousands of engineers to support AI development and build LLMs such as Openai, creating enterprise-grade AI applications.
Turing’s AI Business
Turing expands its focus into two key areas, each playing a clear role in shaping the future of AI.
The first Turing AGI advancements will work with major AI labs to push the boundaries of artificial intelligence. The company is working to improve the thinking, inference, code and the ability to adapt to complex tasks in AI models. Their efforts range from areas such as agent behavior, multimodal processing, STEM knowledge, and other advanced capabilities that define next-generation AI.
The second Turing Intelligence takes these advances and turns them into practical solutions for business. By leveraging the latest breakthroughs, Turing helps Fortune 500 companies integrate AI into their businesses, address real challenges, and develop applications that drive efficiency.
Together, these two departments will Turing at the forefront of both AI research and corporate recruitment, ensuring that technological advancements will lead to concrete impacts.
The company relies on Alan, a fine-tuning and reinforcement learning platform that helps optimize AI models evaluation, training and development. This approach allows Turing to benefit from the technology that helps it create while improving its AI systems.
Bets on the future of AI
As AI companies drive smarter and more capable models, the demand for high-quality training data is surged. At the same time, inference costs and improvements in AI accessibility make it easier for companies to hire. Turing is positioned at the intersection of these trends, moving AI models forward while transforming their research into practical tools.
“Our goal is to accelerate AGI advancement and create AI systems with real impact,” said Jonathan Siddharth. “We have built a set of products on the world’s largest talent cloud to improve our AI models and deploy applications at scale. This Series E-Round highlights our investors’ confidence in our role in shaping the future of AI.”
There has been no notice of an increase in Turing in the AI industry. The company is recognized by some of its most influential business and high-tech publications.
Forbes Turing one of America’s best startup employers. This information is included in the annual list of the most promising B2B companies. Fast Company also recognized Turing as one of the most innovative companies in the world. These industry acknowledgements show the company’s expansion presence in AI and enterprise technology.
The leadership team includes AI technists from Meta, Google, Microsoft, Apple, Amazon, Twitter, McKinsey, Bain, Stanford, Caltech and MIT.
With this latest funding, Turing has bolstered efforts across AI research and enterprise recruitment, ensuring its position as a key player in the AI industry.
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