Arcee AI, which develops open-weight models in the US, raised a Series B at a $1B pre-money valuation; a source says Arcee raised at least $150M (Allie Garfinkle/Fortune)

Arcee AI, a US-based company specializing in open-weight models, recently secured a Series B funding round. The startup, founded in 2023 by Mark McQuade, achieved a pre-money valuation of $1 billion. According to a source, Arcee AI raised at least $150 million in this funding round, which will likely support its focus on post-training in the AI era.

This report is the first to disclose Arcee AI's Series B pre-money valuation at $1 billion, unlike other reports that only mention the funding amount.