Total amount raised
$50 Millions
Latest funding date
08/01/2024
Location
Encord has developed a platform designed to manage, curate, and annotate multimodal data for AI applications. The platform supports various data types, including images, videos, audio, documents, text, and DICOM files.
Keep reading to explore the intricacies of Encord's fundraising journey and the investors backing this innovative platform.
What Is Encord?
Encord specializes in managing, curating, and annotating multimodal data for AI applications. The platform supports various data types, including images, videos, audio, documents, text, and DICOM files, aiming to transform unstructured data into high-quality datasets for AI model training.
Operating within the AI data management and annotation industry, Encord offers tools for data management, annotation, and model evaluation. The platform features advanced filtering, data cleansing, and integration with cloud storage services, emphasizing security and providing programmatic access through its API/SDK.
How Much Funding Has Encord Raised?
- Pre-Seed Round
- Amount Raised: $500K
- Date: February 2021
- Lead Investors: Y Combinator
- Seed Round
- Amount Raised: $4.5M
- Date: June 2021
- Lead Investors: CRV
- Series A
- Amount Raised: $15M
- Date: October 2021
- Lead Investors: CRV
- Series B
- Amount Raised: $30M
- Date: August 2024
- Lead Investors: Next47
Encord has raised a total of $50M across all funding rounds.
Key Investors
- Next47
- Details: Next47 is a global venture firm backed by Siemens, focusing on innovative startups. They provide not only capital but also strategic support and access to Siemens' extensive network.
- Investment Focus Areas: Industrial technology, cybersecurity, artificial intelligence, autonomous machines.
- Notable Investments: Verkada, Markforged, Ridecell.
- CRV
- Details: CRV, formerly known as Charles River Ventures, is one of the oldest and most successful venture capital firms in the United States. They have a strong track record of investing in early-stage technology companies.
- Investment Focus Areas: Software, consumer services, enterprise technology, healthcare.
- Notable Investments: Twitter, DoorDash, Zendesk.
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that has funded over 2,000 startups since its inception. They offer seed funding, mentorship, and resources to help startups grow.
- Investment Focus Areas: Software, consumer internet, healthcare, fintech.
- Notable Investments: Airbnb, Dropbox, Stripe.
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