StepFun
Model ProviderTier 1Pure AIChinese AI model maker founded by ex-Microsoft employees. Planning Hong Kong IPO.
CNShanghai, ChinaFounded 2023
Valuation
$5.0B
Total Raised
$900M
Revenue (ARR)
n/a
P/S Ratio
n/a
Employees
300
Key products
StepChatStepFun APIStep models
Models (2)
Step-2Step-1V
Latest funding round
Series B+2026-01-01
$717M
Lead: Shanghai SSCI, China Life Private Equity
Revenue notes
Revenue not publicly disclosed.
Key investors (4)
TencentQiming Venture Partners5Y CapitalShanghai state-owned capital
Data and sources
Latest figure as of Apr 12, 2026| Figure | Value | As of | Source |
|---|---|---|---|
| Total funding raised | $900M | Apr 12, 2026 | source pending |
| Valuation | $5.0B | Jan 1, 2026 | source pending |
| Employees | 300 | Dec 1, 2025 | source pending |