NEWS
Vercel ready to develop new AI product after $ 250 million funding round
Argentine software startup Vercel – a specialist in providing platforms for creating cloud-based web applications – is ready to develop a new AI product having raised $ 250 million in a Series E funding round .
This latest round brings Vercel ’ s valuation to $ 3.25 billion .
The round was led by Accel , with participation from existing investors CRV , GV , Notable Capital , Bedrock , Geodesic Capital , Tiger Global , 8VC and SV Angel .
Vercel recently reported surpassing $ 100 million in annual revenue with more than one million developers use its Next . js opensource framework technology monthly .
The $ 250 million will help Vercel develop a new product called v0 – leveraging generative AI to create user interfaces from text descriptions .
Additionally , Vercel plans to enhance its security products .
Vercel ’ s client roster ranges from major brands like Under Armour to startups such as Perplexity and OpenAI .
The company aims to continue expanding its influence in the web development sector , focusing on improving e-commerce sites and media platforms .
Vercel CEO Guillermo Rauch is recognized as one of the most influential figures in web development . He was an early investor in Auth0 , another Argentine unicorn , which was sold for $ 6.5 billion .
Rauch also invested in Coder House , a virtual course platform .
Stressing his belief in the innovative potential of Argentine talent , Rauch urged aspiring developers to seize the moment .
“ Argentines will continue to create innovative companies . Our talent is undeniable . Now is the time to program and design great things ,” he said .
Orchest Technologies provides 80 million more reasons to join Connectbase
Orchest Technologies will significantly enhance the LATAM expansion of The Connected World ecosystem by adding 80 million on-net buildings across 33 countries throughout Latin America and the Caribbean that can be quoted and ordered through Orchest .
This strategic partnership will enable Orchest Technologies to leverage Connectbase ’ s extensive network of Tier 1 global buyers , Managed Service Provider buyers and Trusted Brokers and Distributors of connectivity , while providing Connectbase ’ s customers with unique access to last-mile access in the LATAM and Caribbean markets .
Connectbase , the global ecosystem for buying and selling connectivity , has announced that Orchest Technologies , the recipient of the Best LATAM Operator of the Year award by both Capacity Media and Carrier Community in 2022 and 2023 , has joined The Connected World .
The partnership will provide automated reach to over 80 million locations across Latin America and the Caribbean for buyers and channel partners using the Connectbase platform .
“ We are thrilled to welcome Orchest Technologies to The Connected World ecosystem ,” said Ben Edmond , Founder and CEO , Connectbase . “ Their extensive network coverage in Latin America and the Caribbean will greatly benefit our global buyers and further strengthen our platform ’ s reach and capabilities .”
Jeremy Villalobos , CEO , Orchest Technologies , said : “ Joining forces with Connectbase is a significant milestone for Orchest Technologies . By leveraging their global platform and connecting with their impressive network of buyers and agents , we can expand our reach and provide even more value to our customers in the LATAM and Caribbean markets .” p
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