AI Data Platform Weka Gets $140 Million in Funding

The AI-native data platform received the cash infusion as part of a Series E funding round, bringing its total valuation to $1.6 billion.

Christopher Hutton, Technology Reporter

May 15, 2024

1 Min Read
AI data platform WekaIO gets funding

WekaIO, the AI data platform, just raised $140 million in a funding round, bringing the company's valuation to around $1.6 billion.

The funding, raised entirely with existing investors, should give the company the flexibility to scale its business.

WEKA's Nazeer Intekhab

“The recent acceleration of generative AI and enterprise cloud adoption has triggered a sharp increase in customer demand, driving an unprecedented number of eight-figure ARR deals — an impressive feat when you factor in that Weka is a software-based business,” said Intekhab Nazeer, chief financial officer at Weka. “It was an opportune time to fortify our cash reserves, allowing our investors to increase their position in the company while minimizing share dilution for our employees.”

WEKA's Jonathan Martin

WEKA's leadership is assuring partners that this successful funding round its AI data platform was for their benefit.

"We’re committed to building the next great enterprise data management company and delivering exceptional value and innovation to help solve our mutual customers’ most complex data challenges now and in the future," said Jonathan Martin, president of Weka. "We look forward to working with our partners to expand opportunities for new value creation and to co-create innovative solutions to drive mutual growth and success in the rapidly growing AI market and beyond."

The company launched its global channel partner program, Weka X, a little more than a year ago. The program was announced in order to assure clients of its channel-led, partner-first sales strategy.

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About the Author(s)

Christopher Hutton

Technology Reporter, Channel Futures

Christopher Hutton is a technology reporter at Channel Futures. He previously worked at the Washington Examiner, where he covered tech policy on the Hill. He currently covers MSPs and developing technologies. He has a Master's degree in sociology from Ball State University.

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