Encord, a San Francisco, CA-based AI data development platform for advanced vision and multimodal teams, has raised $30 million in Series B funding.
Investors
The round was led by global venture firm Next47, with participation from existing investors Y Combinator, CRV, and Crane Venture Partners.
Next47 is a global venture firm based in Silicon Valley with offices in the US, Europe, and Israel. The firm invests in early and expansion-stage companies, focusing on SaaS, AI/ML, Dev Tools, Enterprise IT, Cybersecurity, and Deep Tech. They are dedicated to empowering founders with domain expertise, specialized resources, and a robust network to turn their ideas into leading businesses.
Encord Use of Funds
The company will use the funding to accelerate its growth and enhance its platform capabilities.
About Encord
Encord provides a data development platform built to make AI development more practical. Its end-to-end solution is a unified platform that automates an AI team’s workflow—data management and curation, model evaluation, and annotation. Encord can manage data for AI models based on images, videos, medical imagery, visual language, voice, and more. With over 2,000 predictive and generative models in production, Encord is trusted by over 120 top AI teams from organizations such as Synthesia, Philips, Zoopla, Cedars-Sinai, and Northwell Health.
Funding Details
Company: Encord
Raised: $30.0M
Round: Series B
Funding Date: August 2024
Lead Investor: Next47
Additional Investors: Y Combinator, CRV, Crane Venture Partners
Company Website: https://encord.com/
Software Category: AI Data Development
Source: https://www.webwire.com/ViewPressRel.asp?aId=325541