DefinedCrowd, a data provider for artificial intelligence, raised an additional $50.5 million in a Series B funding round.
Investors include Semapa Next, Hermes GPE, Evolution Equity Partners, Kibo Ventures, Portugal Ventures, Bynd Venture Capital, EDP Ventures, IronFire Ventures, Amazon Alexa Fund, Sony Innovation Fund, and Mastercard.
DefinedCrowd plans to use the new funds to expand its existing solutions, launch new innovative subscription-based offerings and expand its global reach. The company also plans to double the number of its employees and open more research and development offices worldwide by the end of 2020.
DefinedCrowd offers a platform with multiple data delivery options that leverages machine learning technology and human intelligence to deliver quality-guaranteed training data for AI systems.
The platform offers self-service and fully customizable solutions that deliver high-quality project-specific training data, enabling AI products reach market quicker.
“DefinedCrowd’s innovative SaaS platform, industry-leading quality, and fast-delivery guarantees have cemented its global reputation as the trusted source for AI data. We are honored to be a part of this company’s exciting future,” said Dennis Smith, DefinedCrowd Board Member and Managing Partner, and Founder of Evolution Equity Partners.
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