Today HPC cloud provider Rescale announced that the company has secured $14 million in Series A funding led by TransLink Capital with participation from Microsoft Ventures, Jump Capital, ITOCHU Technology Ventures, Two Roads Group, and Data Collective. Moving forward, TransLink Capital co-founder and Managing Director, Toshi Otani, will join the board of directors.
High performance computing is a $20 billion market dominated by legacy on-premise IT players with minimal cloud penetration today,” said Toshi Otani, Managing Director at TransLink capital. “Rescale’s platform solution addresses the key security and performance challenges that have historically held back enterprises from pushing their HPC data centers into the cloud. As the industry-leading platform solution for enterprise HPC, Rescale has demonstrated to be uniquely well positioned as HPC makes the inevitable transition to the cloud.”
Rescale’s expansion plans will help meet the escalating worldwide customer demand for enterprise-class HPC platforms to help large enterprises transition from expensive legacy on-premise systems to scalable, agile, and high performing cloud computing infrastructure.
“The unique underlying network of global HPC infrastructure has allowed Rescale to build a strong business several regions including North America, Europe, and Japan – providing low-latency access to local infrastructure and meeting regional security requirements, while providing access the best cost and performance of compute on a global scale. The turn-key software layer and platform SaaS features on top, has made the solution a must-have for leading enterprises in numerous verticals.”
The Series A funding adds to existing seed investments from Sam Altman, Jeff Bezos, Richard Branson, Data Collective, Paul Graham, and Peter Thiel among others – with a total of over $20 million raised to date.
We are very excited to add these new strategic investors to our team. Toshi is a welcome addition to our board as he brings years of experience with enterprise cloud solutions and expertise in global market expansion” said Joris Poort, CEO of Rescale. “We are excited to be investing further in our geographic expansion to help serve the global demand for our platform and continuing to make our customers successful. Our customers run simulations which continue to break technology barriers and are setting record product development timelines in their respective industries. From automotive design to drug discovery and even actual rocket science – we are very excited to continue to help the leading and most innovative enterprises empower their teams to accomplish more innovation faster.”
In this video from the HPC User Forum in Tucson, Zach Smocha from Rescale presents: Performing Simulation based, real time decision making with Cloud HPC.