{"id":1972,"date":"2020-05-26T10:04:00","date_gmt":"2020-05-26T10:04:00","guid":{"rendered":"https:\/\/aijourn.com\/?p=1972"},"modified":"2024-04-02T13:59:35","modified_gmt":"2024-04-02T13:59:35","slug":"smart-data-platform-definedcrowd-raises-50-5m","status":"publish","type":"post","link":"https:\/\/aijourn.com\/smart-data-platform-definedcrowd-raises-50-5m\/","title":{"rendered":"Smart data platform DefinedCrowd raises $50.5m"},"content":{"rendered":"\n<p>Smart data platform DefinedCrowd <a href=\"https:\/\/www.definedcrowd.com\/definedcrowd-secures-us50-5m-in-series-b-funding\/\" target=\"_blank\" rel=\"noopener\">today announced<\/a> they have successfully raised $50.5m in a Series B funding round with new investors Hermes GPE and Semapa Next taking part alongside existing investors Bynd Venture Capital, EDP Ventures, Evolution Equity Partners, IronFire Ventures, Kibo Ventures, and Portugal Ventures. <\/p>\n\n\n\n<p>The additional capital will be used to enhance their suite of products, increase available resources for R&amp;D of new initiatives and services to add value to customers, and expand their international client list. <\/p>\n\n\n\n<p>This Series B funding round brings DefinedCrowd&#8217;s total raised capital to $63.4m over a five year period and is also the largest Series B funding round to be raised by a female-founded AI company in the US giving kudos to <a href=\"https:\/\/aijourn.com\/women-in-tech\/\">women in technology<\/a>. <\/p>\n\n\n\n<p>Daniela Braga, CEO and founder of DefinedCrowd said: &nbsp;&#8220;It\u2019s amazing to think of how far we have come in such a short time.&nbsp;A few years ago, I&nbsp;saw&nbsp;the&nbsp;gap between the&nbsp;AI&nbsp;models&nbsp;data scientists wanted to develop and the training data available to build&nbsp;them.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"DefinedCrowd US$50.5M Series B round\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/o2set3jj1u8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><figcaption>Credit: <a href=\"https:\/\/www.definedcrowd.com\/definedcrowd-secures-us50-5m-in-series-b-funding\/\" target=\"_blank\" rel=\"noopener\">DefinedCrowd<\/a><\/figcaption><\/figure>\n\n\n\n<p>DefinedCrowd uses its SaaS smart data platform to deploy &#8220;high-quality AI training data to fuel your AI and machine learning initiatives&#8221; through it&#8217;s three available product services: Enterprise Portal, API, and Neevo. <\/p>\n\n\n\n<p>The companies approach uses a community of over 290,000 contributors from 195 countries who can be paid to complete tasks such as labeling, typing, and identify spoken words and phrases to be used in their clients data sets. <\/p>\n\n\n\n<p>Currently the smart data platform supports over 50 languages and 79 dialects which is roughly 90% of the world&#8217;s spoken languages, all of which come at an accuracy rate of up to 98%. <\/p>\n\n\n\n<p>The smart data platform comes with a dashboard for real-time progress where developers can see the results of using multiple data sets to improve a data created algorithm specific for that client&#8217;s market or targeted outcome. <\/p>\n\n\n\n<p>Daniela explained the reason for people using their platform: &#8220;It\u2019s clear that our \u202finnovative SaaS platform, industry-leading quality and fast-delivery guarantees have cemented&nbsp;our&nbsp;global reputation as the trusted source for AI data.&#8221;<\/p>\n\n\n\n<p>The investment comes at a time where other data visualisation and enabler tools have had successful rounds including <a href=\"https:\/\/aijourn.com\/adverity\/\">Adverity raising $30m<\/a> for their marketing data reporting and <a href=\"https:\/\/aijourn.com\/dathena-raises-12-million-to-expand-ai-data-security\/\">Dathena raising $12m<\/a> for their AI data security platform. <\/p>\n\n\n\n<p>Seattle based DefinedCrowd started in 2015 with $200,000 raised in capital and has grown to having four offices across three continents with a working team of over 250 in mid 2020.<\/p>\n\n\n\n<p>Over the past year, DefinedCrowd has reported an increase in revenue by 656% and an increase in team members by 176% YoY. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"728\" height=\"767\" src=\"https:\/\/aijourn.com\/wp-content\/uploads\/2020\/05\/Screenshot-2020-05-27-at-13.11.41.png\" alt=\"smart data platform \" class=\"wp-image-1974\" srcset=\"https:\/\/aijourn.com\/wp-content\/uploads\/2020\/05\/Screenshot-2020-05-27-at-13.11.41.png 728w, https:\/\/aijourn.com\/wp-content\/uploads\/2020\/05\/Screenshot-2020-05-27-at-13.11.41-600x632.png 600w, https:\/\/aijourn.com\/wp-content\/uploads\/2020\/05\/Screenshot-2020-05-27-at-13.11.41-285x300.png 285w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/><figcaption>Credit: <a href=\"https:\/\/www.definedcrowd.com\/definedcrowd-secures-us50-5m-in-series-b-funding\/\" target=\"_blank\" rel=\"noopener\">DefinedCrowd<\/a><\/figcaption><\/figure>\n\n\n\n<p>Speaking on the recent growth and plans for the future with the secured funding, Daniela said: &#8220;Our future is looking bright.&nbsp;The demand for AI-enabled products is increasing exponentially across almost every industry \u202fand geography.\u202f With our \u202ftalent, \u202fresources, \u202fand valued investors \u202fwe are \u202fwell on our way to achieving our goal of&nbsp;becoming the world\u2019s best data company for artificial intelligence.&#8221; <\/p>\n\n\n\n<p>DefinedCrowd has a roster of global clients on its roster including Mastercard, BMW, Nuance, and randstad while being backed by long-term investors Amazon Alexa Fund, Sony Innovation Fund, and Mastercard. <\/p>\n\n\n\n<p>DefinedCrowd is not the only company offering a smart data platform in the $5bn data annotation tools market with Scale AI also competing who <a href=\"https:\/\/techcrunch.com\/2019\/08\/05\/scale-ai-and-its-22-year-old-ceo-lock-down-100-million-to-help-label-silicon-valleys-data\/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAF0-0avuzM5anNw802ggQ8z86RhE40zRySdbAYOGu93wSG_fas8Z-ByuOAsxPemPfoqwgReXpabDXgXU2POGVXe2vxK417yewKIycFsTbHuEogq1NiKtCpvO-7eSmBptzLJZdqxsRTU-c6s15jCN3fwG8eGcSqXCrWOt1qHYVYgS\" target=\"_blank\" rel=\"noopener\">raised $100m in August<\/a> last year and <a href=\"https:\/\/venturebeat.com\/2019\/11\/20\/cloudfactory-raises-65-million-to-prep-and-process-data-sets\/\" target=\"_blank\" rel=\"noopener\">CloudFactory who raised $65m<\/a> in November 2019. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Smart data platform DefinedCrowd today announced they have successfully raised $50.5m in a Series B funding round with new investors Hermes GPE and Semapa Next taking part alongside existing investors Bynd Venture Capital, EDP Ventures, Evolution Equity Partners, IronFire Ventures, Kibo Ventures, and Portugal Ventures. The additional capital will be used to enhance their suite &hellip;<\/p>\n","protected":false},"author":2,"featured_media":1975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"categories":[39,3],"tags":[],"ppma_author":[480],"class_list":["post-1972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data","category-finance","author-tomallen-1"],"authors":[{"term_id":480,"user_id":2,"is_guest":0,"slug":"tomallen-1","display_name":"Tom Allen","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/69092d556a6e884905319dacb2cff031?s=96&d=mm&r=g","last_name":"Allen","first_name":"Tom","job_title":"","user_url":"http:\/\/www.aijourn.com","description":"Founder of The AI Journal. I like to write about AI and emerging technologies to inform people how they are changing our world for the better."}],"_links":{"self":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts\/1972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/comments?post=1972"}],"version-history":[{"count":5,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts\/1972\/revisions"}],"predecessor-version":[{"id":1981,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/posts\/1972\/revisions\/1981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/media\/1975"}],"wp:attachment":[{"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/media?parent=1972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/categories?post=1972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/tags?post=1972"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/aijourn.com\/wp-json\/wp\/v2\/ppma_author?post=1972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}