Verda has raised $189 million to expand an AI cloud that it operates from the physical data center through the software customers use. The Helsinki company sells on-demand computing and platform services to teams developing and running AI systems, including AI agents. The financing includes an oversubscribed Series B led by Emergence Capital and additional investment.
Running the whole stack means Verda manages data centers and hardware as well as its cloud platform and AI research. That gives customers one provider for the computing infrastructure and software services behind demanding AI workloads, rather than a platform separated from the machines supplying its capacity.
The new capital will fund product development across those layers, with particular attention to inference—the work of running trained models to produce answers or actions. Verda also plans to multiply its computing capacity over the next year and continue expanding in Europe, the United States and Asia.
This is a capital-intensive business, and the latest financing follows another large package only five months earlier. TNW reported that Lifeline Ventures led a $117 million combination of equity and Nordic lender debt, which Verda later said had grown to $155 million after the Nordic Investment Bank participated.
The company, previously called DataCrunch, says its annualized revenue run rate reached $165 million in July, up from more than $60 million reported around the April financing. A run rate extrapolates recent revenue rather than recording a full year of sales, but the change helps explain why Verda is raising again so quickly: adding AI customers requires more hardware capacity as well as software.
Verda says the new round values it above $1 billion and brings total funding to more than $450 million. Founded in Helsinki in 2020, it has also recently opened offices in London and San Francisco.