Labelbox, a US-based developer artificial intelligence-data training software, secured $25m in series B funding yesterday from investors including Gradient Ventures, internet technology provider Google’s artificial intelligence fund.
Venture capital firm Andreessen Horowitz led the round, which was also backed by Kleiner Perkins and First Round Capital. Peter Levine, a general partner at Andreessen Horowitz, is joining Labelbox’s board of directors in conjunction with the round.
Founded in early 2018, Labelbox has created a data training platform for AI software development, helping an organisation’s employees to access unified training data when approaching the task of, for instance, creating a machine learning platform from the ground up.
The platform helps create interfaces for labelling visual and text data, and allows users to upload their data for more convenient labelling.
The series B proceeds will fund the doubling in size of Labelbox’s sales and engineering teams and establish best practices and standard metrics for the performance of AI models, chief operating officer Brian Rieger told VentureBeat.
Labelbox has now raised $38.9m altogether, including $3.9m in seed funding from Gradient Ventures, First Round and Kleiner Perkins predecessor Kleiner Perkins Caufield & Byers in mid-2018. The three joined Sumon Sadhu in a $10m series A round in April 2019.
