About Paperspace
Paperspace is a company based in Brooklyn (United States) founded in 2014 by Daniel Kobran and Dillon Erb was acquired by DigitalOcean in July 2023.. Paperspace has raised $28.88 million across 7 funding rounds from investors including DigitalOcean, Battery Ventures and SineWave Ventures. The company has 20 employees as of December 31, 2021. Paperspace offers products and services including Gradient and Core. Paperspace operates in a competitive market with competitors including Odoo, Kony, Veritone, OutSystems and Anyscale, among others.
- Headquarter Brooklyn, United States
- Employees 20 as on 31 Dec, 2021
- Founders Daniel Kobran, Dillon Erb
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Paperspace Co.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$28.88 M (USD)
in 7 rounds
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Latest Funding Round
$6.18 M (USD), Series A
May 24, 2021
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Investors
DigitalOcean
& 10 more
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Employee Count
20
as on Dec 31, 2021
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Acquired by
DigitalOcean
(Jul 06, 2023)
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Products & Services of Paperspace
Paperspace offers a comprehensive portfolio of products and services, including Gradient and Core. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Develops, trains, and deploys AI models on cloud GPUs.
Offers hosted desktops for individuals and organizations.
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Funding Insights of Paperspace
Paperspace has successfully raised a total of $28.88M across 7 strategic funding rounds. The most recent funding activity was a Series A round of $6.18 million completed in May 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series A — $6.2M
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First Round
First Round
(03 Mar 2015)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2021 | Amount | Series A - Paperspace | Valuation |
investors |
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| Oct, 2018 | Amount | Series A - Paperspace | Valuation | Battery Ventures , SineWave Ventures |
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| Oct, 2016 | Amount | Series A - Paperspace | Valuation | Ludlow Ventures , DCVC |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Paperspace
Paperspace has secured backing from 11 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include DigitalOcean, Battery Ventures and SineWave Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments in technology companies are conducted globally by Battery Ventures.
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Founded Year | Domain | Location | |
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US focused early stage VC firm
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Founded Year | Domain | Location | |
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Focus by Sorenson Capital is on software, healthcare, aerospace, energy.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Paperspace
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Paperspace
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paperspace Comparisons
Competitors of Paperspace
Paperspace operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Odoo, Kony, Veritone, OutSystems and Anyscale, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Open-source business management software is developed with integrated modules.
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| domain | founded_year | HQ Location |
Cloud-based platform for field operations and digital banking is provided.
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| domain | founded_year | HQ Location |
AI-driven analytics for audio and video content are provided.
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| domain | founded_year | HQ Location |
Low-code platform enables application development and deployment without coding.
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| domain | founded_year | HQ Location |
Provider of an AI-based open source framework for building distributed applications
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Cloud based integrated application development platform
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Paperspace
Frequently Asked Questions about Paperspace
When was Paperspace founded?
Paperspace was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is Paperspace located?
Paperspace is headquartered in Brooklyn, United States. It is registered at Brooklyn, New York, United States.
Who is the current CEO of Paperspace?
Dillon Erb is the current CEO of Paperspace. They have also founded this company.
Is Paperspace a funded company?
Paperspace is a funded company, having raised a total of $28.88M across 7 funding rounds to date. The company's 1st funding round was a Series A of $4M, raised on Mar 03, 2015.
How many employees does Paperspace have?
As of Dec 31, 2021, the latest employee count at Paperspace is 20.
What does Paperspace do?
Paperspace was founded in 2014 in Brooklyn, United States, and operates within the cloud computing sector focused on machine learning. Virtual desktops are provisioned within minutes and accessed through web browsers, enabling personal computers to utilize cloud resources similarly to Chromebook models. A dedicated device for internet-based connections to the platform is also available, supporting remote development workflows.
Who are the top competitors of Paperspace?
Paperspace's top competitors include DigitalOcean, Odoo and OutSystems.
What products or services does Paperspace offer?
Paperspace offers Gradient and Core.
Who are Paperspace's investors?
Paperspace has 11 investors. Key investors include DigitalOcean, Battery Ventures, SineWave Ventures, Sorenson Capital, and Initialized Capital.
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