Total amount raised
$53.5 Millions
Latest funding date
11/1/2024
Location
SuperAnnotate has successfully raised $36 million in its latest Series B funding round, attracting investment from Databricks Ventures and other notable backers. The platform is designed to centralize data operations for multimodal AI, offering a suite of tools to streamline workflows and manage teams effectively.
Keep reading to explore the intricacies of SuperAnnotate's fundraising journey and the investors backing this innovative platform.
What Is SuperAnnotate?
Founded in August 2018, SuperAnnotate is an AI data platform based in San Mateo, California. The company specializes in unifying AI pipeline processes and simplifying dataset creation, curation, and model evaluation.
SuperAnnotate was established by Davit Badalyan, Jason Liang, Tigran Petrosyan, and Vahan Petrosyan. The platform offers advanced tools for building high-quality training datasets for Generative AI, LLMs, Computer Vision, and NLP.
With a team of 101-250 employees, SuperAnnotate provides a comprehensive suite of features, including data annotation automation, dataset quality management, and an integrated workforce marketplace.
How Much Funding Has SuperAnnotate Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI data platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Seed Round
- Amount Raised: $3,000,000
- Date: June 2020
- Lead Investors: Point Nine
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and scale operations.
- Series A
- Amount Raised: $14,500,000
- Date: July 2021
- Lead Investors: Base10 Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series B
- Amount Raised: $36,000,000
- Date: November 2024
- Lead Investors: Socium Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify their position in the enterprise generative AI market.
Total Amount Raised: $53,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Socium Ventures
- Details: Socium Ventures is a venture capital firm that led the Series B funding round for SuperAnnotate. They focus on investing in high-growth technology companies.
- Investment Focus Areas: Technology, AI, SaaS.
- Notable Investments: Not publicly disclosed.
- Databricks Ventures
- Details: Databricks Ventures is the investment arm of Databricks, a company known for its unified data analytics platform. They participated in the Series B funding round for SuperAnnotate.
- Investment Focus Areas: Data, AI, Machine Learning.
- Notable Investments: Not publicly disclosed.
- NVIDIA
- Details: NVIDIA is a global leader in graphics processing technology and AI computing. They participated in the Series B funding round for SuperAnnotate.
- Investment Focus Areas: AI, Machine Learning, Data-centric technologies.
- Notable Investments: Not publicly disclosed.
- Point Nine
- Details: Point Nine is a Berlin-based venture capital firm that led the seed round for SuperAnnotate. They specialize in early-stage investments.
- Investment Focus Areas: SaaS, Marketplaces, Fintech.
- Notable Investments: Delivery Hero, Revolut, Zendesk.
- Base10 Partners
- Details: Base10 Partners is a venture capital firm that led the Series A funding round for SuperAnnotate. They focus on investing in automation and AI-driven companies.
- Investment Focus Areas: Automation, AI, Fintech.
- Notable Investments: Not publicly disclosed.
What's Next for SuperAnnotate?
SuperAnnotate stands at the cusp of significant growth, driven by the burgeoning demand for AI and machine learning solutions. With the recent $36 million Series B funding, the company is well-positioned to expand its footprint in the enterprise generative AI market. High-profile clients like Databricks, Canva, and Motorola Solutions underscore the platform's potential to become a leader in AI dataset management.
Future fundraising opportunities appear promising, with the potential for Series C and beyond, especially if SuperAnnotate continues to innovate and capture market share. However, the company must navigate challenges such as intense competition and the need for continuous technological advancements to maintain its edge.
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