Addition Leads Series C Extension to Anyscale
Gunderson Dettmer represented New York-based client Addition as it co-led the Series C extension financing to Anyscale. The round included co-leader Intel Capital and participation from Foundation Capital. Anyscale is the developer of the open-source Python framework Ray, which is used to run distributed computing projects. Ray 2.0 notably gains the Ray AI Runtime, adding a unified runtime layer for machine learning applications and services.
In the announcement of the transaction, Anyscale Chief Executive Robert Nishihara said, “It’s the commercial offering that has caught the attention of investors. By giving the underlying framework away for free, the company believes it can entice enterprises to take a look and then pay to reap more benefits.”
The Gunderson Dettmer deal team was led by Greg Volkmar and included Fredrico Varni.