Palo Alto based AI coding provider Turing has raised $111 million in a Series E funding round, doubling its valuation to $2.2 billion, reported by TechCrunch first.
The company, which supplies code for OpenAI and other AI firms, has seen rapid growth amidst the rise of several AI coding tools.
“Excited to share that Turing has secured $111M in funding in a heavily oversubscribed round at a $2.2B valuation,” wrote Turing CEO Jonathan Siddharth on Linkedin. “We’re one of the fastest-growing AGI infrastructure companies in the world—and we’re profitable.”
The funding will support its work in AGI infrastructure, AI model development, and enterprise AI applications. Siddharth calls Turing ‘an index bet on AGI.’
The round was led by Malaysia’s sovereign wealth fund, Khazanah Nasional Berhad, with investors including WestBridge Capital, Sozo Ventures, and Plug and Play. Based in Palo Alto, Turing has now raised a total of $225 million.
“In 2018 Jonathan camped out in our Foundation Capital offices coding the early version of Turing – a solution to the engineering talent challenge he’d faced firsthand at his previous startup,” said Ashu Garg, general partner at Foundation Capital.
Turing’s technology includes an AI-driven talent platform for vetting, matching, and managing engineers, ALAN for model evaluation, reinforcement learning, and agent development, and compute and data to support and improve AGI models.
Originally launched as a remote hiring platform for engineers, Turing shifted focus in 2022 when OpenAI sought its help in generating code to improve AI model reasoning. Today, its focus includes reasoning, coding, multimodality, and industry-specific applications.
