Paperspace

The company was part of the Y Combinator accelerator's 2015 batch and raised $35 million in total funding over several rounds from investors including Intel Capital, Battery Ventures, and Initialized Capital before its acquisition. In July 2023, DigitalOcean acquired Paperspace for $111 million in cash, aiming to integrate Paperspace's specialized GPU capabilities to enhance its own cloud offerings for startups and small- to medium-sized businesses (SMBs). Following the acquisition, Paperspace operates as a standalone business unit within DigitalOcean.

Paperspace's business model is centered on providing on-demand, cloud-based access to GPU and CPU resources, billed on a per-hour basis with monthly maximums for some services. It serves a wide range of clients, from individual developers and researchers to startups and large enterprises. The platform's core products include Gradient, an MLOps platform for the entire machine learning lifecycle, and Core, which provides fully managed cloud GPU servers, storage, and networking. Gradient offers tools like pre-configured Jupyter Notebooks, job scheduling, and team collaboration features to streamline the development, training, and deployment of ML models. Core provides virtual machines with various GPU options for high-performance computing tasks such as deep learning, 3D visualization, and complex simulations.