WekaIO, an AI data platform provider, has successfully raised $140 million in a recent funding round, pushing the company’s valuation to approximately $1.6 billion. This capital was secured exclusively from existing investors, providing WekaIO with the necessary resources to expand its operations.
“The rapid growth in generative AI and enterprise cloud adoption has led to a significant rise in customer demand, resulting in a notable number of eight-figure ARR deals, which is particularly remarkable for a software-based business,” said Intekhab Nazeer, WekaIO’s CFO. “This was an ideal moment to strengthen our financial reserves, enabling our investors to increase their stake in the company while minimizing share dilution for our employees.”
WekaIO’s leadership emphasizes that this successful funding round is designed to benefit its partners. “We are dedicated to building a leading enterprise data management company and providing exceptional value and innovation to address our customers’ most complex data challenges, both now and in the future,” stated Jonathan Martin, WekaIO’s president. “We are eager to collaborate with our partners to explore new opportunities for value creation and to co-develop innovative solutions that drive mutual growth and success in the rapidly expanding AI market and beyond.”
A little over a year ago, the company launched its global channel partner program, Weka X, to reassure clients of its channel-led, partner-first sales strategy.
