Arcee AI raises $150 million in Series B round

Arcee AI, an enterprise AI startup, has raised $150 million in a Series B round at a $1 billion pre-money valuation. Investors include Vista Equity Partners, Cambium Capital, Emergence Capital, Microsoft's M12, AI10 Ventures, Hitachi, IAG, P7, and Wipro. The company, founded by former Hugging Face employee Mark McQuade, will use the funds to develop new open-weight models and expand partnerships with the U.S. Department of Energy and Vista portfolio companies.