Data-labeling startup Scale AI raises $1B as valuation doubles to $13.8B

Scale AI, a data-labeling service provider for companies training machine learning models, has raised $1 billion in a Series F funding round. The round included participation from Amazon, Meta, and other institutional and corporate investors. The company, which has raised about $600 million in its eight-year history, is now valued at $13.8 billion. The latest funding round was led by Accel, and saw participation from new investors including the venture arms of Cisco, Intel, AMD, and ServiceNow, as well as DFJ Growth, WCM, and investor Elad Gil.

Scale AI specializes in managing and annotating large volumes of data, which is crucial for training AI systems across various industries. The company's services are used by Microsoft, Toyota, GM, Meta, the U.S. Department of Defense, and OpenAI. The new funds will be used to accelerate the abundance of frontier data that will pave the way to artificial general intelligence, according to Scale AI's CEO and founder, Alexandr Wang.

Key takeaways

Scale AI, a company that provides data-labeling services for machine learning models, has raised a $1 billion Series F round from investors including Amazon and Meta, bringing its valuation to $13.8 billion.
The company has previously raised around $600 million, including a $325 million Series E in 2021 that valued it at around $7 billion.
Scale AI specializes in managing and annotating large volumes of data, which is crucial for training AI systems across various industries.
The company plans to use the new funding to accelerate the abundance of frontier data that will pave the road to artificial general intelligence, according to CEO and founder, Alexandr Wang.

Data-labeling startup Scale AI raises $1B as valuation doubles to $13.8B | TechCrunch

Key takeaways

Discussion (0)