2 minute read | December.19.2023
AI startup Replicate has raised $40 million in a Series B financing led by Andreessen Horowitz, with participation from Nvidia’s VC arm NVentures, Heavybit, Sequoia and Y Combinator.
Orrick represented Replicate.
Replicate, which has the goal of making machine learning accessible to every software developer, offers a platform that lets software developers use open-source AI models to help generate images, text, videos, music and speech, among other things.
In the last year and half, Replicate said, two million software developers have signed up to Replicate, and 30,000 are paying customers. “We’ve seen people build autonomous robots, real-time drawing apps and language model command-line interfaces,” Replicate said in a blog post.
The new funding will be used to attract more software developers to the platform and provide enterprise customers with additional services like security, compliance and monitoring how a model performs. Among its 30,000 paying customers are companies like Buzzfeed, Getty-owned Unsplash. Startups like Character AI and Labelbox use Replicate to run open source models.
The Orrick team advising Replicate included John Harrison, John Bautista, Kaitlin Bagby, Alexis Savini, Vinny Mei and Julia Orr, with contributions from Daniel Yost, Shaya Afshar, Shannon Yavorsky, Mike Yang, Katherine Hogan, Taylor Sullivan, Anna Humphrey, Natalie Brown, Dina Dalessandro, Harry Clark, Jeanine McGuinness, Milana Karayanidi, Vanessa Fuller and Maria Coladonato.