Encord Raises $30M in Series B Funding to Enhance AI Data Development Platform
Encord is setting new standards in the AI data development landscape, ensuring enterprises can fully leverage their data for optimal AI performance.
Company Name: Encord
Location: San Francisco, CA
Sector: Artificial Intelligence, Data Management
Funding Details: Raised $30 million in Series B funding led by Next47, with participation from Y Combinator, CRV, and Crane Venture Partners.
Purpose of Investment: To expand business reach and enhance development efforts, focusing on automating AI data curation and management.
Leadership: Led by President Ulrik Stig Hansen, Encord is revolutionizing AI development with a comprehensive data development platform.
Product and Innovation: Encord provides a seamless platform addressing data management, curation, annotation, and model evaluation. This integration simplifies the AI development process, allowing for efficient model training and enhancement. The platform supports various AI models, including those based on images, videos, and medical imagery.
Company Growth: Encord's solutions are adopted by over 120 leading AI teams worldwide, including notable organizations like Synthesia, Philips, and Northwell Health. The platform has facilitated the deployment of over 2,000 predictive and generative models.
New Developments: The launch of Encord Index, a comprehensive data management tool, aims to streamline the data curation process. It integrates with major cloud storage services to optimize data utility for AI training, ensuring the removal of non-informative or biased data.
About the Company: Founded by a team dedicated to making AI development practical and accessible, Encord is setting new standards in the AI data development landscape, ensuring enterprises can fully leverage their data for optimal AI performance.