Turing raises $111M in funding to accelerate AGI advancement, hits $2.2B valuation

Turing, an AI infrastructure startup accelerating the advancement and deployment of AI systems, has secured $111 million in Series E funding, bringing its valuation to $2.2 billion.

The round was led by Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, with backing from WestBridge Capital, Sozo Ventures, UpHonest Capital, AltaIR Capital, Amino Capital, Plug and Play, MVP Ventures, Fortius Ventures, Gaingels, and Mastodon Capital Management. This latest round pushes the company’s total funding to $225 million since it was founded seven years ago.

Turing has been on a strong growth trajectory, hitting $167 million in annualized revenue run rate (ARR) at the time of pricing. The company is now bringing in around $300 million in ARR and has been profitable for about a year, according to CEO Jonathan Siddharth. The funding will help scale R&D, sales, and marketing as the company looks to expand its reach and offerings.

From HR Tech to AI Partner

Founded in 2018, Turing started out as an HR tech company, building a platform to vet and hire remote engineers. The service took off during the pandemic when companies scrambled for better ways to manage remote teams. It didn’t take long for Turing to gain attention, attracting both investors and enterprise clients.

The shift into AI wasn’t part of the original plan, but an unexpected meeting in 2022 changed that. OpenAI invited Siddharth to discuss recruiting engineers, but instead, they had a different proposition. Researchers had discovered that code integrated into training datasets helped improve reasoning in AI models, and they wanted Turing to help generate that data. That request sparked a new business line, turning Turing into a key partner for AI labs and companies working with large language models (LLMs).

Today, the startup collaborates with thousands of engineers to support AI development, helping build LLMs for OpenAI and others while creating generative AI applications for enterprises.

Turing’s AI Business

Turing has expanded its focus into two key areas, each playing a distinct role in shaping the future of AI.

The first, Turing AGI Advancement, collaborates with leading AI labs to push the boundaries of artificial intelligence. The company works to refine AI models’ ability to think, reason, code, and adapt to complex tasks. Its efforts extend into areas like agentic behavior, multimodal processing, STEM knowledge, and other advanced capabilities that define next-generation AI.

The second, Turing Intelligence, takes these advancements and turns them into practical solutions for businesses. By leveraging the latest breakthroughs, Turing helps Fortune 500 companies integrate AI into their operations, developing applications that address real-world challenges and drive efficiency.

Together, these two divisions position Turing at the forefront of both AI research and enterprise adoption, ensuring that technological progress translates into tangible impact.

The company relies on ALAN, its fine-tuning and reinforcement learning platform, which helps optimize AI model evaluations, training, and development. This approach allows Turing to improve AI systems while benefiting from the technology it helps create.

Betting on AI’s Future

As AI companies push for smarter, more capable models, the demand for high-quality training data is surging. At the same time, lower inference costs and improvements in AI accessibility are making adoption easier for businesses. Turing is positioning itself at the intersection of these trends, working to advance AI models while turning that research into tools companies can actually use.

“Our goal is to accelerate AGI advancement and build AI systems with real-world impact,” said Jonathan Siddharth. “We’ve built a suite of products on top of the world’s largest talent cloud to improve AI models and deploy applications at scale. This Series E round underscores the confidence our investors have in our role in shaping the future of AI.”

Turing’s rise in the AI industry hasn’t gone unnoticed. The company has gained recognition from some of the most influential business and tech publications.

Forbes named Turing one of America’s Best Startup Employers. The Information included it in its annual list of Most Promising B2B Companies. Fast Company also recognized Turing as one of the World’s Most Innovative Companies. These industry acknowledgments mark the company’s expanding presence in AI and enterprise technology.

The leadership team includes AI technologists from Meta, Google, Microsoft, Apple, Amazon, Twitter, McKinsey, Bain, Stanford, Caltech, and MIT.

With this latest funding, Turing is ramping up efforts across AI research and enterprise adoption, securing its place as a key player in the AI industry.