Clarifai Raised $60M in Series C Round led by New Enterprise Associates

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Clarifai, the noted AI-based platform, dealing in the unstructured video, image, audio and text-based data, has confirmed its latest $60 million Series C round. This was spearheaded by NEA (New Enterprise Associates) and other participants included existing investors such as Lux Capital, Menlo Ventures, LDV Capital, Union Square Ventures, NYU Innovation Venture Fund, Corazon Capital, and others. New investors like NextEquity Partners, CPP Investments, Trousdale Capital, SineWave Ventures also took part. Andrew Schoen, the Partner at NEA, will be a member of the board at Clarifai. The amount takes the cumulative funding amount of the company to $100 million and will be deployed for scaling up marketing, sales, and engineering divisions at the company as per 100mhalltechcrunch.

The deep-learning artificial intelligence (AI)-based Clarifai platform scales up the development of developer, data scientist and business operator models at the biggest companies in the world, by enabling automation of each AI-lifecycle stage. Clarifai has achieved considerable expansion, foraying well beyond computer vision while launching new abilities for audio recognition, NLP (natural language processing) and also products like Scribe Automated Data Labeling, Spacetime Search, and Flare Edge AI. This has been a consistent development since the company raised its Series B funds in the year 2016.

Scribe was launched sometime earlier and now helps all developers to tap into AI for automatic data labeling and this may be trained with a single click, leveraging the company’s cutting-edge architectures for models. The company is also collaborating with its customers for the deployment of its Edge AI abilities. This has a layering AI over data streams with new local hardware types including drones, camera-based sensors, and even server frameworks that are high-powered systems.

Clarifai also helps developers with the management of AI-based resources. The AI Lake helps all customers with easy management of their data. The AI Lake helps in the control of concepts, inputs, workflows, models, applications and a lot more in a single platform. This scales up overall innovation and improves governance through easier access to AI tools and their management.

According to the Founder and CEO at Clarifai, Dr. Matthew Zeiler, AI is already generating sizable value throughout several sectors while it will be ensuring several use cases afresh for many years in the future. Yet, he opined that it will be unable to achieve its entire potential until all developers can readily integrate AI into applications. Clarifai has also been developing its deep-learning platform him, which already helps more than 130,000 users worldwide. The company has been engaged in developing the same for almost ten years as per Zeiler. He also stated that a new horizon is foreseen, i.e. Software 2.0, which will have AI steadily working as a replacement and even augmentation for software solutions. The new funding round will help the company keep generating momentum through more recruitment and the expansion of its AI-based abilities while remaining the preferred Software 2.0 platform.

The Series C funding round will enable Clarifai to drive expansion globally through the hiring of team members in larger numbers throughout its marketing, sales, and engineering divisions worldwide, backing up its dedication towards ushering AI into the mainstream palate of global developers as well. This funding comes after a spectacular year for the company. It had already doubled revenues in 2020 itself. Partner at NEA, Andrew Schoen, stated that the AI-based tech stack at Clarifai is already the standout platform worldwide for developers. He also added that the platform makes it possible for almost any individual to leverage unstructured data and its immense value along with tapping into machine learning as well. He also stated that the futuristic vision of Clarifai to ensure AI-based access to 50 million developers worldwide is inspiring. He also stated that it is a delight to be partnering the company and its skilled team for accelerating machine learning and its mainstream adoption globally.

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