Mar 7, 05:00 PM

AI Coding Provider Turing Secures $111M in Series E, Valued at $2.2B

Turing, a Palo Alto-based AI coding provider, has raised $111 million in a Series E funding round, doubling its valuation to $2.2 billion. The round was led by Malaysia's sovereign wealth fund, Khazanah Nasional Berhad, with participation from other investors, including WestBridge Capital and Sozo Ventures. Turing works with over 4 million engineers globally to provide training data and code for AI projects, including those by OpenAI and other large language model producers. Its services include reinforcement learning, preference optimization, and tools for fine-tuning AI models, such as the ALAN platform and LLM Lab. The company, founded in 2018, started as a remote hiring platform before shifting focus in 2022 after collaborating with OpenAI to enhance AI model reasoning through code generation. Turing has achieved profitability and reports an annualized recurring revenue of $300 million, with a total of $225 million raised to date. The newly raised funds will be used to expand its customer base, develop new AI infrastructure, and increase its capabilities in AGI model development and enterprise applications. CEO Jonathan Siddharth describes Turing as 'an index bet on AGI.'

#Turing #Palo Alto #Malaysia #Khazanah Nasional Berhad #WestBridge Capital #Sozo Ventures #OpenAI #ALAN #LLM Lab #AGI #Jonathan Siddharth

Written with ChatGPT (GPT-4o).

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AI Coding Provider Turing Secures $111M in Series E, Valued at $2.2B

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