Venice AI hits $1B valuation with $65M Series A for private AI
What's the deal? Venice AI, a privacy-focused AI platform, has raised $65 million in a Series A round at a $1 billion valuation — its first external fundraise. The round was led by crypto-focused venture firm DragonflyDealroom has a profile for this one. Try Dealroom →, with participation from Coinbase Ventures and North Island VenturesDealroom has a profile for this one. Try Dealroom →.
Founded two years ago and led by CEO Erik VoorheesDealroom has a profile for this one. Try Dealroom →, Venice gives users access to more than 200 AI models while letting them retain their privacy: input is encrypted client-side and routed through an external proxy, with no data stored on Venice's own systems. It hosts open-source models on its own infrastructure and routes queries to closed-source models from the likes of OpenAIDealroom has a profile for this one. Try Dealroom → and AnthropicDealroom has a profile for this one. Try Dealroom →.
Why now? The platform is already profitable, with annualised run-rate revenue topping $70 million. It serves more than 3 million active users and averages 1.7 million API calls a day. Venice plans to use the fresh capital to buy GPUs and build its own data centres, cutting its reliance on leased hardware and lifting gross margins.
The signal: Privacy is emerging as a wedge in a market dominated by data-hungry giants — Venice is betting a growing share of users will pay to own their AI rather than rent it on someone else's terms.
Read more: TechCrunch
