Fal said on Tuesday, Nov. 3, that it has closed a Series F led by Bessemer Venture Partners with Nvidia as a strategic investor, according to a company blog post. Bloomberg reported, in a story by Natasha Mascarenhas, that the AI inference startup raised $1.3 billion led by Bessemer at a $16 billion valuation, up from $8 billion in April, according to Techmeme’s summary of the report. The Bloomberg story is paywalled and AI Tech Daily did not read it; the figures here are as summarized by Techmeme, PANews and AllMind. Fal’s post did not give the amount or the valuation.
Bloomberg also reported, citing a source, that fal reached about $800 million in annualized revenue this year, according to the same summary. Fal’s post did not give a revenue figure, and the figure comes only from Bloomberg’s source.
Fal said it closed a Series E led by Sequoia Capital earlier this year and is announcing it alongside the Series F. The company said the rounds fund work across its ecosystem in 2027 and give its team room to pursue new research and new forms of creation. Its post said entertainment studios, advertising agencies, e-commerce brands, game developers and marketing teams now run image, video and audio models, including fal’s own, inside the pipelines that deliver their final work. It said that supporting this takes inference capacity to run the models at scale and a team to build what comes next.
Fal’s post does not say how much the Series F raised. CryptoBriefing reported that some reports put the total at $1.65 billion across the Series E and Series F, and Securities.io, whose article is labeled AI-generated, reported the same combined figure and said neither fal’s announcement nor its post breaks out the size of either round. The sources reviewed do not establish whether Bloomberg’s $1.3 billion refers to the Series F alone.
Bessemer, which said it has backed fal in every round since the Series B two years ago, described fal as a platform where developers reach thousands of models through a single API and where labs use fal for distribution and serverless infrastructure. Bessemer said companies including Adobe, Canva, Shopify, World Labs and Amazon have moved production volume to fal. Those customer claims are Bessemer’s, and the sources reviewed did not include a statement from the companies named.
Bessemer also said fal Research released H3 Max in August, a post-trained version of MiniMax H3, and partnered last week with Black Forest Labs on Flux 3 Max.
PANews and AllMind, both summarizing Bloomberg, said Sound Ventures and T. Rowe Price also took part in the round. Neither fal’s post nor Bessemer’s named other investors, and none of the sources gave the size of Nvidia’s investment.
Other AI media startups have also drawn large valuations. ElevenLabs, which makes AI voices, ran a $300 million employee tender at a $22 billion valuation on Oct. 1, AI Tech Daily reported, citing TechCrunch and Reuters.
Sources
- fal: The work and the people behind the build (company blog post, November 2026; read in full)
- Bessemer Venture Partners: Investing in fal, the generative media company (November 3, 2026; read in full)
- Bloomberg: AI Inference Startup Fal Raises Capital at $16 Billion Valuation, by Natasha Mascarenhas (November 3, 2026; paywalled, not read)
- Techmeme: summary of Bloomberg’s report (November 3, 2026; headline summary only)
- PANews: AI Inference Startup Fal Closes New Funding Round, Valuation Rises to $16 Billion, citing Bloomberg (November 4, 2026 per the page; read in full)
- AllMind News: AI Inference Startup Fal Raises Capital at $16 Billion Valuation, source Bloomberg (November 3, 2026; read in full)
- CryptoBriefing: Fal raises $1.3B at $16B valuation as AI inference demand outruns supply (November 3, 2026; read in full)
- Securities.io: Fal Announces $1.65 Billion in Combined Series E and F Funding (November 3, 2026; read in full)
- AI Tech Daily: ElevenLabs opens $300M employee tender at $22B valuation (October 1, 2026)