The company is expanding its product offerings to include multimodal embeddings and "any-to-any" search capabilities, with its model Marengo capable of searching across images, audio, and video. Twelve Labs recently secured $30 million in new investments, bringing its total funding to $107.1 million, and plans to use the funds for product development and hiring. Yoon Kim, former CTO of SK Telecom, has been appointed as president and chief strategy officer to drive the company's expansion into new verticals such as automotive and security. The involvement of In-Q-Tel suggests potential applications in national security, aligning with Twelve Labs' ethical guidelines.
Key takeaways:
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- Twelve Labs specializes in video-understanding AI models that allow users to search, summarize, and analyze video content, attracting major backers like Nvidia, Samsung, and Intel.
- The company differentiates itself by focusing exclusively on video and offering customizable models, unlike general-purpose multimodal models from companies like OpenAI and Google.
- Twelve Labs is expanding its product offerings to include multimodal embeddings and any-to-any search, securing partnerships with Databricks and Snowflake.
- The company recently raised $30 million in new investments and hired Yoon Kim as president to drive strategic growth and expansion into new verticals.