Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Artificial Intelligence Startup Labelbox Closes $40 Million in Series C Funding

Labelbox continues its trajectory as the leading training data platform for labeling data, addressing the most critical step in building artificial intelligence systems

Labelbox, the leading training data platform for enterprise machine learning applications, announced the close of a $40 million Series C funding led by B Capital Group. Previous investors Andreessen Horowitz, First Round Capital, Gradient Ventures (Google’s AI venture fund) and Kleiner Perkins also participated in addition to Catherine Wood, CEO and founder of ARK Invest. To date, Labelbox has raised $79 million in venture funding.

“We give ML teams a complete workflow that organizes and manages data, people and processes to drive competitive business advantage for companies in every major enterprise vertical,” said Manu Sharma, Labelbox’s CEO and co-founder. “Our software platform creates the best collaboration possible between automation and human expertise. We understand that our customer’s success depends on speed. Faster iteration loops via automation is the engine powering improved performance in AI.”

Recommended AI News: TradeStation Supports Trading of Ether Futures from CME Group on Day One

Labelbox offers a software platform to manage, annotate and iterate training data, the most important intellectual property of the artificial intelligence age. Data labeling is a 4 billion dollar market that is expected to nearly quadruple in the next four years. With algorithms available for free and computing resources increasingly commoditized, high-quality labeled training data is the most valuable asset for enterprises adopting supervised learning solutions.

“Data has become the most valuable asset a company can possess, regardless of industry, and machine learning is emerging as the key enabler for digital transformation by leveraging data insights. However, most enterprises that adopt machine learning spend over 80% of their time in data labeling and data management,” said Rashmi Gopinath, General Partner at B Capital Group.

Related Posts
1 of 40,348

“Labelbox’s training data platform supports many of the Fortune 500 enterprises and federal agencies with an unparalleled set of tools to unlock the full potential of machine learning and deploy accurate models that are constantly improving to help drive better business outcomes,” Gopinath continued. “We’re excited to partner with Manu and Brian and the entire Labelbox team to build a category leader in machine learning data infrastructure and enable enterprises to realize meaningful ROI from their AI/ML investments.”

Recommended AI News: DVP Launches World’s First Decentralized Security Crowd-testing Platform to Solve Security Issues of DeFi Ecosystem

To build real-world applications, machine learning teams need robust infrastructure that is able to import raw data into labeling workflows, allowing enterprises to manage widely distributed annotation teams, monitor quality, adjust for bias, and export high-quality labeled training data to machine-learning models.

Labelbox functions like a command center for enterprise data. It automates the process with a pre-labeling web-based platform so that enterprises can connect and collaborate easily across databases, BPOs and labeling services regardless of time zone or geography. Labelbox customers report accelerating iteration cycles by up to 800 percent using the platform and cutting development time in half in pushing new models into production.

“Labelbox software provides the advanced annotation capabilities that our teams need for our diverse AI projects. The platform facilitates collaboration and management of multiple distributed labeling workforces, and the integration between our internal processes and the Labelbox platform is easy and works like a charm,” noted Andres Pretio-Moreno, Director, Corporate Technology Advanced Projects at FLIR. “We look forward to continuing to roll out the software across more enterprise initiatives.”

Recommended AI News: Seed Health Announces Acquisition of Digital Health Company Auggi

  1. metoprolol ohne Rezept in Genf says

    Your way of explaining all in this paragraph is in fact good, all
    can without difficulty be aware of it, Thanks
    a lot.

  2. Copper scrap grading says

    Copper scrap sorting technologies Copper scrap inspection Metal reclamation and repurposing
    Copper cable scrap sorting, Scrap metal export regulations, Copper recycling innovations

  3. Scrap iron transportation says

    Scrap metal recovery facility Ferrous Iron reclamation operations

    Ferrous metal sales, Iron and steel reclaiming and recycling, Metal reclaiming yard

  4. Iron and steel scrapping says

    Metal recovery plant Ferrous metal recycling innovations Iron disposal yard

    Ferrous material recycling revenue, Iron recyclables processing, Scrap metal legal compliance

Leave A Reply

Your email address will not be published.