The new funding values the company at $230 million and brings its total capital to $65 million. Among Unstructured's 1,000 paying customers are the U.S. military, which uses its tools to prepare classified data for training large language models, and Independent Health, a health insurance company that uses the tool to train its AI on insurance policies. Raymond, a former CIA officer, founded Unstructured in July 2022 after recognizing the need for a tool to clean up and prepare large amounts of enterprise data for AI training.
Key takeaways:
- Brian Raymond's startup, Unstructured, specializes in preparing "messy" human-generated data for AI model training, transforming over 30 different file formats into a machine-readable one.
- Unstructured has recently raised $40 million in a Series B round led by Menlo Ventures, bringing its total capital to $65 million and valuing the company at $230 million.
- The startup's tool is used by some 50,000 organizations, including the U.S. military and Independent Health, to prepare their data for AI training.
- Raymond, a former CIA officer, founded Unstructured in July 2022 after recognizing the need for a tool to clean and prepare enterprise data for large language model (LLM) training.