Clarifai, an AI platform for unstructured image, video, text, and audio data, has announced that it closed a $60 million Series C funding round. This funding round was led by New Enterprise Associates (NEA), with participation from existing investors Menlo Ventures, Union Square Ventures, Lux Capital, LDV Capital, Corazon Capital, NYU Innovation Venture Fund, and new investors CPP Investments, NextEquity Partners, SineWave Ventures, and Trousdale Capital. Andrew Schoen, Partner at NEA, will join the Board.
The amount raised brings the company’s total funding to $100 million and will be used to expand its sales, marketing, and engineering teams.
“AI is unleashing enormous value across all industries and will unleash new use cases for years to come, but it cannot realize its full potential until developers of all skill levels can infuse AI into their applications,” said Dr. Matthew Zeiler, founder and CEO of Clarifai. “At Clarifai, we have been building on our deep learning AI platform for nearly a decade now, which empowers over 130,000 global users. We are at the forefront of a new era, Software 2.0, where AI is augmenting and replacing software. With this new round of funding, I am thrilled to continue our strong momentum by growing our incredible team and expanding our AI capabilities to continue to be the Software 2.0 platform of choice.”
“Clarifai’s AI stack stands out as the platform of choice for the world’s most demanding and agile developers,” said Andrew Schoen, Partner at NEA. “Clarifai empowers anyone (not just data scientists) to utilize machine learning and to unlock the value of unstructured data. We were inspired by Clarifai’s vision to make AI available to the world’s 50 million developers and are thrilled to partner with the Clarifai team to catalyze the adoption of machine learning.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.