SambaNova Systems, a Palo Alto, Calif.-based startup developing next-generation computing platforms to power machine learning and data analytics applications, raised $56m in Series A funding.
The round was led by Walden International and GV (formerly Google Ventures), with participation from Redline Capital and Atlantic Bridge Ventures. Lip-Bu Tan, Chairman of Walden International and CEO of Cadence Design (NASDAQ: CDNS), will assume the role of Chairman of the Board for SambaNova and Dave Munichiello, General Partner at GV, will join the board of directors.
The company will use the funds to grow its team of machine learning software and hardware engineers, as well as accelerate the build-out of its computing platform.
Founded in 2017 based on technology from Stanford University Professors Kunle Olukotun and Chris Ré, and led by CEO Rodrigo Liang, former Senior Vice President of Processor Development at Oracle, SambaNova Systems has developed a computing platform to power machine learning and data analytics across an enterprise.