Fireworks AI Raised $250 Million to Help Enterprises Own Their AI

Fireworks AI, the platform to build your Generative AI capabilities, optimized and at scale, led by Lin Qiao, Benny Chen, Chenyu Zhao, Dmytro Dzhulgakov, Dmytro Ivchenko, James Reed, and Pawel Garbacki, has secured a $250 million Series C at a $4 billion valuation, co-led by Lightspeed Venture Partners, Index Ventures, and Evantic, with continued support from Sequoia Capital, bringing the total funding to $327 million.

Founded in 2022 by former PyTorch engineers, Fireworks began when enterprises were exploring large language models, often constrained by closed APIs and stalled pilots. Built on the belief that open-source models would rival proprietary ones, Fireworks offers an AI Cloud empowering enterprises with speed, efficiency, and full control to build production-grade AI.

Fireworks now drives AI for global leaders like Samsung, Uber, DoorDash, Notion, Shopify, and Upwork, powering millions of users with unmatched speed and efficiency. Used by over 10,000 companies and hundreds of thousands of developers, the platform processes 10 trillion tokens daily and exceeds $280 million in annualized revenue.

With access to hundreds of open-source models across text, image, audio, and multimodal formats, Fireworks enables fine-tuning, reinforcement learning, and evaluation on an ultra-fast inference engine, up to 40× faster and 8× more cost-efficient than others.

Fireworks’ growth is driven by a belief in one-size-fits-one AI, not one-size-fits-all. While generic models rely on public data, the true value lies in enterprise-specific information, user behavior, workflows, and proprietary knowledge. Fireworks enables developers to fine-tune models with this data, making AI faster, cheaper, and more accurate. Each interaction improves both the product and the model through continuous feedback and reinforcement learning.

This product-model co-design creates a self-improving system that optimizes cost, speed, and quality, forming the foundation of autonomous, enterprise-grade intelligence.

With the new funding, Fireworks is accelerating its vision to make enterprise AI faster, smarter, and fully owned. The focus spans three areas: advancing research in tuning and inference alignment for greater efficiency, expanding into a full AI creation toolchain for end-to-end model lifecycle management, and scaling global compute infrastructure to deliver higher performance at lower cost.

AI is the greatest business opportunity of this era, and enterprises deserve control over their own infrastructure. This investment fuels Fireworks’ global expansion, team growth, and ecosystem partnerships, building the foundation where AI runs faster, and enterprises stay in control.