Zilliz, an AI-powered unstructured data processing and analysis platform, closed its latest Series B funding round with a $43 million investment led by Hillhouse Capital.
Additional investors include TrustBridge Capital, Pavillion Capital, 5Y Capital (formerly Morningside Venture Capital), and Yunqi Partners.
Zilliz has raised over $53 million since its launch in 2017. The company will use the latest funds to drive international workforce expansion, advance enterprise-grade cloud services, and spur global adoption of its AI-powered technology for unstructured data processing and analysis.
“Unstructured data accounts for roughly 80% of all data, but only 1% gets analyzed due to processing complexities,” said Charles Xie, Founder and CEO of Zilliz.
“Structured data, such as numerical values and text, has been efficiently handled by computers for decades. Unstructured data, things like images, videos, user behavior, chemical structures, and gene sequences, is far more ubiquitous.”
“However, few tools are available to extract meaning from it. As digital transformation accelerates, unlocking the value of unstructured data will become progressively more essential. Our overarching goal at Zilliz is to utilize technology like heterogeneous computing and artificial intelligence to give people access to previously inaccessible insights.”
Image Credit: Zilliz