Bitfusion, a U.S. provider of artificial intelligence (AI) infrastructure management software, has secured US$5 million in a Series A financing. The round was led by Canadian venture capital firm Vanedge Capital. It was joined by new and existing investors, including Sierra Ventures, Data Collective, Resonant VC and Geekdom. Bitfusion, founded in 2015 and headquartered in Sunnyvale, California, also announced the beta availability of a new software product, Bitfusion Flex, which aims to make the delivery of AI applications faster and more cost effective. Earlier in 2017, Vanedge closed its second information technology fund, raising $161 million.
Bitfusion Announces Funding and New Software Platform to Accelerate AI Initiatives
Bitfusion Closes $5 Million Series A Funding and Introduces Bitfusion Flex, the Industry’s First Software for Managing Elastic AI Infrastructure
SUNNYVALE, CA – May 2, 2017 – Bitfusion today announced a $5M Series A funding round led by Vanedge Capital, with participation from new investor Sierra Ventures and existing investors Data Collective, Resonant VC, and Geekdom. The company also announced the beta availability of Bitfusion Flex, a software product that removes the complexity of clustering, sharing and scaling deep learning infrastructure, making the delivery of artificial intelligence (AI) applications faster and more economical.
Bitfusion Flex significantly reduces the time and expense associated with AI projects by accelerating development times and cutting infrastructure costs. The infrastructure management software allows AI developers to streamline the development and deployment of deep learning applications by dynamically scaling and sharing on-demand compute power.
Bitfusion Flex, powered by the company’s core virtualization engine, optimizes deep learning workflows throughout the AI application lifecycle including development, training, and inference. It can be deployed into any data center or cloud and dramatically enhances the use of GPUs, FPGAs and other AI compute resources across all major deep learning frameworks.
Bitfusion’s core virtualization technology provides a transparent software layer that combines multiple systems into a single elastic compute cluster that supports the sharing and scaling of compute resources. It works out of the box with pre-existing applications and is compatible with bare metal, containerized, and virtualized environments. Bitfusion Flex provides the end-to-end management framework for developers to easily leverage the core virtualization engine across AI applications and environments.
“The promise of AI and deep learning is immense, but in practice, leveraging GPUs, FPGAs and other compute architectures for performance presents huge challenges for AI developers,” said Subbu Rama, co-founder and CEO of Bitfusion. “By providing an end-to-end solution focused on the unique needs around AI development and deployment, we are enabling companies to leverage these efficient architectures with very little effort. This massively accelerates time to business value for AI initiatives.”
Bitfusion’s successful Series A financing demonstrates strong industry support and shows the importance of the growing market for AI infrastructure solutions.
“The data center is moving to a heterogeneous computing model where CPUs are augmented by specialized co-processors such as GPUs, FPGAs, and more,” said Moe Kermani, managing partner at Vanedge Capital. “Machine learning is the major driver of this shift and Bitfusion is well-positioned to simplify how applications take advantage of this heterogeneous environment.”
The Bitfusion Flex beta release is available starting today. To schedule a demo or to request access, visit www.bitfusion.io/products/flex
Bitfusion sees an opportunity to provide tools to manage the machine learning development process while squeezing higher utilization out of the many racks of GPUs needed to do the job,” said Karl Freund, senior analyst for machine learning at Moor Insights & Strategy. “And Bitfusion is the first, to my knowledge, to address this growing need.”
“The latest NVIDIA GPU technology delivered on the IBM Cloud is opening the door for clients of all sizes across all industries to accelerate their strategy around HPC, deep learning and AI,” said Jerry Gutierrez, global HPC solution leader at IBM Cloud. “Bitfusion Flex and IBM are helping clients leverage CPU and GPU technology to develop deep learning and AI solutions.”
Bitfusion Flex Webinar Alert
Sign up for a complimentary webinar hosted by Bitfusion on Thursday, May 18th at 9:00am PT. Join Director of Product and Marketing, Tim Gasper, for a deep dive into Bitfusion Flex and learn how to develop, train and deploy AI applications easier and more efficiently. To register, visit: https://attendee.gotowebinar.com/register/5183507213570784259
Bitfusion on Twitter
Bitfusion was founded by three Intel alumnae with a vision to make at-scale heterogeneous computing accessible to any organization and build the operating system for the next generation computing. The company’s products allow AI developers to cluster, share and scale compute resources to reduce the costs and complexity associated with the AI application lifecycle. Bitfusion has offices in Austin, Texas and Silicon Valley. For more information visit,www.bitfusion.io or follow the company on Twitter @bitfusionio.
Tanya Carlsson/Kulesa Faul for Bitfusion: firstname.lastname@example.org/707.529.6139
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