Anyscale, the distributed computing company behind Ray, has raised $99 million in a new Series C round, adding to its previous $100 million fundraise in December 2021, the company announced. The latest round was co-led by existing investors Addition and Intel Capital with participation from Foundation Capital. Founded in 2019, Anyscale boasts a private market valuation of more than $1 billion after raising a total of at least $259 million in capital.
Launched by creators Robert Nishihara, Philipp Moritz, and Ion Stoica, along with University of California, Berkeley professor Michael I. Jordan, Anyscale supports Ray, its signature open-source distributed computing framework. Ray includes a universal serverless compute application programming interface and an expanded ecosystem of libraries, which enable developers to build scalable and adaptable applications. It also produces the Anyscale Compute Platform, which is a managed version of the Ray platform that makes it more accessible to enterprises that pay for access.
The commercial product, which eliminates issues with the underlying infrastructures of multicloud platforms, has attracted customers and investors alike. By enticing enterprises with the free, open-source underlying framework, Anyscale is betting that many will pay for added benefits. The company also announced the release of Ray 2.0, which adds Ray AI Runtime for machine learning applications and services.