The company's products, which include the open-source project FiftyOne and an enterprise version called FiftyOne Teams, are used by various enterprise organizations. The technology is said to have improved team productivity by up to 50% and model accuracy by up to 30%. The company has raised nearly $46 million in total funding to date.
Key takeaways:
- Voxel51 has raised $30 million in new funding to develop its visual AI platform, aimed at reducing the failure rate of AI projects by helping developers create more accurate and robust production-ready AI.
- The investment was led by Bessemer Venture Partners with participation from Tru Arrow Partners, Drive Capital, Top Harvest Capital, Shasta Ventures and ID Ventures.
- Voxel51 plans to use the funds to add support for new data modalities, support the next level of dataset scale, deepen its technology integrations, expand its teams, and invest more in its open-source contributions.
- The company's technology is used by various enterprise organizations and is claimed to have improved team productivity by up to 50 percent and model accuracy by up to 30 percent.