San Francisco, February 02, 2021 — Rescale, the leading hybrid HPC cloud platform enabling intelligent computing for digital R&D, today announced it has closed $50 million in Series C funding from Hitachi Ventures, Microsoft’s M12, Nautilus Venture Partners, NVIDIA, Republic Labs and Samsung Catalyst Fund, bringing the company’s total funding to over $100 million.
Rescale is accelerating cloud adoption for the science and engineering community that is still largely on-premises in private datacenters. Massive markets and more than 80% of the verticals served by Fortune 500 are powered by HPC (total annual spend expected to reach $55 billion by 2024) and computer simulation (total spend estimated to reach $21 billion by 2025). Many workloads in the overall scientific research and development category, estimated at $185 billion in 2020, benefit from the advantages of hybrid public cloud and on-premises computing made possible by Rescale.
“Rescale is the first intelligent HPC cloud platform created specifically for digital R&D empowering the research scientists and engineers who are building the future,” said Joris Poort, CEO and co-founder at Rescale. “In the legacy on-prem HPC cluster world, engineers wait in queues for access to capacity so they can run their jobs, they wrestle with complex software and hardware configurations, and they are generally constrained by IT. Rescale gives engineers simple access to thousands of preconfigured software and hardware profiles, the on-demand capacity of the public cloud provider of their choice, and the ability to focus on R&D outcomes and speeding delivery of new innovation, instead of managing HPC infrastructure.”
Today, only 20 percent of HPC workloads run in the cloud. The industry dramatically lags Global 2000 enterprise cloud adoption for many reasons. Rescale was founded to bring HPC workloads to the cloud to lower costs, accelerate R&D innovation, power faster computer simulations, and allow the science and research community to take advantage of the latest specialized architectures for machine learning and artificial intelligence without massive capital investments in bespoke new data centers.
Rescale was born out of experiences at Boeing, where co-founders Joris Poort and Adam McKenzie (now CEO and CTO, respectively) were aerospace engineers leveraging machine learning techniques to optimize the 787 wing structure. Their experience building a high performance computing simulation environment led to an epiphany that engineers and scientists around the world had similar requirements and were needlessly constrained by computing capability. Why not find a way to run complex workloads in the cloud, and accelerate their performance with specialized architectures? They founded Rescale to give the R&D and IT community the first hybrid cloud infrastructure platform optimized for HPC.
