Petuum Closes $93M in Series B Funding

Petuum, Inc., a Pittsburgh, PA-based machine learning (ML) infrastructure platform, closed $93m in Series B funding.

The round was led by a subsidiary of SoftBank Group Corp. with participation from previous investor Advantech Capital.

The company, which has raised a total of $108m, intends to use the funds to continue to expand its technical and business teams, and focus on deploying PetuumOS in specific industries that have high AI potential, but low adoption, such as manufacturing and healthcare.

Co-founded by CEO and CSO Dr. Eric Xing, Qirong Ho, Ph.D., and Ning Li, Ph.D., Petuum has created a flexible operating system and virtualization interface that enables a broad range of users to build any type of machine learning or deep learning application at scale, deploy many applications on a wide range of enterprise hardware – including datacenters and IoT – and manage applications and hardware from a single terminal.

The company has a team of over 50 researchers and developers.



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