Baseten
B2B usage-based cloud platform. Sells 'deployments' rather than pure tokens: dedicated per-minute autoscaling GPU deployments, plus token-priced Model APIs and training/embeddings. Revenue scales with customer inference volume; COGS is dominated by rented/committed GPU capacity.
Chronological priced rounds. Series C valuation (~$825M) is secondary-reported; the ~$5B Series E anchor is triangulated from the Series F re-rate language ($5B -> up to $13B in ~5 months). ~$2.085B raised across all rounds. Intermediate rounds may exist but are not separately price-confirmed here.
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range