Defined.ai Secures US$50.5M in Series B Funding

26 May 2020

5 min read

Our plans to accelerate product development and global growth are in full swing

I am excited to announce that DefinedCrowd has raised an additional US$50.5M in a Series B funding round. It’s the largest ever Series B funding to be raised by a female-founded AI company in the US, and it is testament to the exceptional work this company has been doing since day one.

Thank you to our existing investors Evolution Equity Partners, Kibo Ventures, Portugal Ventures, Bynd Venture Capital, EDP Ventures and IronFire Ventures; your support is an incredible validation of what we have achieved in not only the last year, but also the last four-and-a-half years of operation.

Thank you also to our new investors Semapa Next and Hermes GPE. Welcome to the DefinedCrowd family. They join a prestigious group of long-term investors including Amazon Alexa Fund, Sony Innovation Fund and Mastercard in supporting DefinedCrowd’s goal of becoming the world’s number one data provider.

This capital injection will enable us to rapidly enhance our existing products, and develop and launch new, innovative offerings that will further accelerate the AI programs of our clients. We will also be expanding the scope and scale of our sales and support globally to provide an overarching experience for our clients. It is an exciting time!

We’ve achieved so much in such a short time…

It’s been an incredible 15 months for us at DefinedCrowd. In the last year, we’ve grown our revenue by a staggering 656% and our workforce by 176% YoY. We also received our ISO 27001 certification, launched our Neevo app and won a host of accolades. These include ranking on Forbes’s list of America’s most promising AI companies, and featuring in the top 50 of Forbes’s 500 Best Startup Employers in America.

It’s amazing to think of how far we have come in such a short time. A few years ago, I saw the gap between the AI models data scientists wanted to develop and the training data available to build them. Over a lunch and PowerPoint presentation, I managed to secure a US$200,000 investment to start the company and the rest, as they say, is history. Fast forward four-and-a-half-years and we are now raising US$50.5M in third-round funding.

It’s clear that our  innovative SaaS platform, industry-leading quality and fast-delivery guarantees have cemented our global reputation as the trusted source for AI data.

Our future is looking bright. The demand for AI-enabled products is increasing exponentially across almost every industry  and geography.  With our  talent,  resources,  and valued investors  we are  well on our way to achieving our goal of becoming the world’s best data company for artificial intelligence.