Turing, a key coding provider for OpenAI and other LLM producers, raises $111M at a $2.2B valuation

As AI companies race to improve the accuracy of Large Language Models and apps built on top of them, a startup that has emerged as a key partner in fulfilling that effort is announcing a significant round of funding to expand. Turing, which works with armies of engineers to contribute code to AI projects — those projects include assisting in the building of LLMs for OpenAI and others, as well as Generative AI apps for enterprises — has picked up a Series E of $111 million, doubling its valuation in the process to $2.2 billion. Turing makes around $167 million in ARR (annualized revenue run rate), and it has been profitable for around a year, CEO Jonathan Siddharth said in an interview with TechCrunch. So the plan will be to use the funding to double down on expanding its business to more customers and to more use cases. Turing today says that it works with some 4 million coders around the world. The actual number of Turing employees is much smaller: it’s a figure in the hundreds, one ... Read full article.