Runpod (a startup in the field of cloud computing serving artificial intelligence) was formed at the end of 2021, when two software engineers, Zhen Lu and Pardeep Singh, working at Comcast (a major US telecommunications and communications corporation) decided to take advantage of inefficient cryptocurrency mining rigs to switch to building GPU servers for AI projects. In the process, they realized that software development on the GPU infrastructure was still limited, leading to the idea of building a new platform, focusing on improving the experience for programmers.
During the process of finding trial users, the two founders posted product introductions on Reddit forums about artificial intelligence, providing free access in exchange for feedback. This approach quickly attracted users and gradually transformed into paid customers. After only 9 months, Runpod reached a revenue of 1 million USD and the two founders quit their jobs to pursue the project full-time.
In the early stages, Runpod operated under a self-sufficient model, without mobilizing investment capital and without implementing a free usage package. As demand from businesses increased, the company was forced to expand infrastructure through cooperation with data centers.
By May 2024, Runpod successfully raised $20 million in the seed fundraising round, co-led by Dell Technologies Capital and Intel Capital. Currently, this platform serves about 500,000 developers worldwide, with infrastructure deployed in 31 regions, directly competing with major cloud service providers and specialized GPU platforms.
According to the sharing of the two founders with TechCrunch, Runpod has now achieved a periodic annual revenue of about 120 million USD, after 4 years of operation.
According to the founders, Runpod aims to become a platform for programmers, in the context of the role of software developers changing dramatically along with the rapid development of AI applications and agents.
