Scale AI, a San Francisco, CA-based artificial intelligence startup, secured $1 billion in a Series F funding round, boosting its valuation to $13.8 billion.
With the latest funding round, Scale AI has raised a total of $1.6 billion.
Investors
The round was led by Accel, with participation from Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, and Meta, among others.
Existing investors such as Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Nvidia, Tiger Global Management, Greenoaks, and Wellington Management also participated in this funding round.
Accel is a venture capital firm that partners with exceptional teams from inception through all phases of private company growth. The firm invests in startups in seed, early, and growth-stage investments. It has offices in Palo Alto, California, and San Francisco, California, with additional operating funds in London, India, and China.
Scale AI Use of Funds
The company will use the funds to accelerate its mission to create a "data foundry for AI" and outlined plans to increase the availability of advanced data crucial for the development of Artificial General Intelligence (AGI).
About Scale AI
Scale AI is an AI company specializes in labeling diverse data types—text, images, video, and voice recordings. Initially focused on data labeling for autonomous driving models, Scale AI has broadened its scope to enhance and refine data for various organizations aiming to deploy AI, thereby supporting some of the most sophisticated AI models available. Scale AI is trusted by leading technology companies like Microsoft and Meta, enterprises like Fox and Accenture, generative AI companies like OpenAI and Cohere, U.S. government agencies like the U.S. Army and the U.S. Air Force, and startups like Brex and OpenSea.
Funding Details
Company: Scale AI, Inc.
Raised: $1.0B
Round: Series F
Funding Month: May 2024
Lead Investors: Accel
Additional Investors: Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, Meta, Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Nvidia, Tiger Global Management, Greenoaks, Wellington Management
Company Website: https://scale.com/
Software Category: Data Labelling
Source: https://www.cnbc.com/2024/05/21/amazon-meta-back-scale-ai-in-1-billion-funding-deal.html