Data Platform DefinedCrowd Raises $50.5m

DefinedCrowd, which provides data to support the development of artificial intelligence (AI) products, has raised $50.5m in a Series B round of funding. As a result the firm aims to expand its existing solutions, launch new offerings, double its headcount, and open more R&D offices around the world.

Headquartered in Seattle, DefinedCrowd also has offices in Lisbon, Porto and Tokyo. The firm has developed a self-service SaaS platform combining machine learning and natural language technology with human intelligence to help companies manage their global data collection and enrichment efforts, including the training of AI models to interpret text, speech and images.

This latest funding round includes participation from new investors Semapa Next and Hermes GPE, and existing investors Evolution Equity Partners, Kibo Ventures, Portugal Ventures, Bynd Venture Capital, EDP Ventures and IronFire Ventures, bringing the total raised to date to $63.6m. They all join a group of long-term investors, including Amazon Alexa Fund, Sony Innovation Fund and Mastercard.

DefinedCrowd's founder and CEO Daniela Braga (pictured) comments: 'Closing this Series B funding round is an incredible validation of what we have achieved in just four-and-a-half years. Existing customers continue to demand more DefinedCrowd training data, while new clients are attracted by our growing reputation for high quality, fast delivery and data privacy. With this funding, we'll be able to continue with our plan for triple-digit expansion in 2020, allowing us to serve our clients even better'.

Web site: www.definedcrowd.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.