US-based cloud computing software developer Rescale closed a $50m series C round on Tuesday featuring electronics manufacturers Samsung and Hitachi, software provider Microsoft and graphics processing unit producer Nvidia.
The round also included Nautilus Venture Partners and Republic Labs, while Hitachi, Microsoft and Samsung invested through corporate venture capital (CVC) units Hitachi Ventures, M12 and Samsung Catalyst Fund respectively.
Founded in 2011, Rescale provides cloud-based software for high-performance computing that is used by scientists and engineers to run simulations and artificial intelligence-based activities on the cloud for research and development purposes. It has now raised over $100m of funding to date.
The company secured $6.4m of seed funding from Data Collective, Sam Altman, Jeff Bezos, Richard Branson and Peter Thiel in 2015. TransLink Capital led its $14m series A round in 2016, with backing from Itochu Technology Ventures, the CVC arm of trading group Itochu, as well as M12, Jump Capital, Two Roads Group and Data Collective.
M12 and Itochu Technology Ventures rerurned for the company’s $32m series B round in 2018, a round co-led by Initialized Capital, Keen Venture Partners and SineWave Ventures.
The 2018 round included Mitsubishi UFJ Capital, Data Collective, Jump Capital, Quiet Capital, Streamlined Ventures, Translink Capital, Two Roads Group and Y Combinator as well as private investors Altman, Bezos, Branson, Thiel, Chris Dixon, Paul Graham, Ken Hao, Adam Smith and Steve Westly.