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April 19, 2021

Scale AI Gets A $325M Series E Funding Infusion to Grow Its Data Annotation Mission

Data annotation and labeling startup Scale AI is taking in another $325 million in new investment, this time through a Series E round.

The San Francisco-based company, which was founded in 2016, works to help enterprises annotate or label their stores of data so it can be used more effectively to drive business growth while using their data resources more effectively.

The latest Series E funding round was announced April 13 (Tuesday) in a blog post by Scale AI CEO Alexandr Wang. The new funding round was co-led by Dragoneer, Greenoaks Capital and Tiger Global, and included new investors Wellington Management and Durable Capital. Several previous investors, including Coatue, Index, Founders Fund and YC, were also involved, according to the company.

Scale AI’s work centers on providing a systematic, data-centric approach to help customers rapidly and efficiently deploy their most important models, wrote Wang.“The interest and opportunity for AI is only accelerating, and this new funding will help us continue to expand our team and products to meet this growing demand,” wrote Wang in his blog post.

“At Scale, we’re building the foundation to enable organizations to manage the entire AI lifecycle,” he wrote. “Whether they have an AI team in-house or need a fully managed models-as-a-service approach, we partner with our customers to build their strategy from the ground up and ensure they have the infrastructure in place to systematically deliver highly-performant models.”

You can read the rest of the story at EnterpriseAI by clicking here.