Unstructured, a San Francisco, CA-based company that provides LLM data preprocessing solutions, has raised $40 million in Series B funding, bringing its total raised to $65 million.
SaaS Investors
The round was led by Menlo Ventures, with participation from Databricks Ventures, IBM Ventures, Sacramento Kings Chairman Vivek Ranadivé, Datastax CEO Chet Kapoor, Allison Pickens of the New Normal Fund, and NVentures, NVIDIA’s venture capital arm.
Existing investors Madrona, Bain Capital Ventures (BCV), and Mango Capital also participated in the round.
Founded in 1976, Menlo Ventures is a venture capital firm based in San Francisco, California. The firm seeks to invest in seed-stage, early-stage, later-stage, and growth-stage companies operating in the computer hardware, software, big data, fintech, and healthcare sectors.
Unstructured Use of Funds
The company plans to utilize this new injection of capital to expand its team and expedite the development of data preprocessing tooling for LLMs, further solidifying its position as a leader in the field.
About Unstructured
Unstructured is a provider of LLM data preprocessing solutions, empowering organizations to transform their internal unstructured data into formats compatible with large language models. By automating the transformation of complex natural language data found in formats like PDFs, PPTX, HTML files, and more, Unstructured enables enterprises to leverage the full power of their data for increased productivity and innovation. Unstructured’s open source library has been downloaded more than 6 million times, is used by more than 12,000 code bases, and more than 45,000 organizations, including more than one-third of the Fortune 500, are using Unstructured to preprocess their proprietary data.
Funding Details
Company: Unstructured Technologies Inc.
Raised: $40.0M
Round: Series B
Funding Month: March 2024
Lead Investors: Menlo Ventures
Additional Investors: Databricks Ventures, IBM Ventures, Vivek Ranadivé, Chet Kapoor, Allison Pickens, NVentures, Madrona, Bain Capital Ventures, Mango Capital
Company Website: https://unstructured.io/
Software Category: LLM Data Preprocessing Solutions
Source: https://www.businesswire.com/news/home/20240314620374/en/