One of the strongest signals yet for the increasingly central role that cloud HPC will play—indeed, is already playing—to expand the availability, affordability and value of CAE came in Rescale’s just-announced $14 million in Series A funding. The new round—led by TransLink Capital with participation from Microsoft Ventures, Jump Capital, ITOCHU Technology Ventures, Two Roads Group and Data Collective—brings total investment in Rescale to more than $20 million. Existing seed investments had come from Sam Altman, Jeff Bezos, Richard Branson, Data Collective, Paul Graham and Peter Thiel, among others.
As we noted in a recent overview of Rescale and other innovators driving this revolution (CAE-focused cloud HPC initiatives a boon to simulation users), engineers who rely on simulation and analysis tools have historically been frustrated by constrained availability of HPC (high-performance computing) resources to run their complex, computationally demanding applications. Expensive on-premise hardware was often hard to justify based on sporadic or infrequent usage that fluctuates with project workloads, while leasing time from supercomputing centers could likewise be an exorbitant proposition. But the explosive growth of commodity cloud computing in the past handful of years has completely rewritten this equation, making ultra-high-end computing power accessible and affordable for even the smallest engineering groups today.
Rescale says the new investment will support its expansion plans to “help meet the escalating worldwide customer demand for enterprise-class HPC platforms to help large enterprises transition from expensive legacy on-premise systems to scalable, agile and high-performing cloud computing infrastructure.”
TransLink Capital co-founder and Managing Director Toshi Otani will join the Rescale board of directors. “High-performance computing is a $20 billion market dominated by legacy on-premise IT players with minimal cloud penetration today,” he said. “Rescale’s platform solution addresses the key security and performance challenges that have historically held back enterprises from pushing their HPC data centers into the cloud. As the industry-leading platform solution for enterprise HPC, Rescale has demonstrated to be uniquely well positioned as HPC makes the inevitable transition to the cloud.”
Otani continued: “The unique underlying network of global HPC infrastructure has allowed Rescale to build a strong business in several regions including North America, Europe, and Japan—providing low-latency access to local infrastructure and meeting regional security requirements, while providing access to the best cost and performance of compute on a global scale. The turnkey software layer, and platform SaaS features on top, have made the solution a must-have for leading enterprises in numerous verticals.”
Rescale CEO Joris Poort commented, “We are very excited to add these new strategic investors to our team. Toshi is a welcome addition to our board as he brings years of experience with enterprise cloud solutions and expertise in global market expansion. We are excited to be investing further in our geographic expansion to help serve the global demand for our platform and continuing to make our customers successful. Our customers run simulations which continue to break technology barriers and are setting record product development timelines in their respective industries.”