Amazon, Meta back Scale AI in $1 billion funding deal that values firm at $14 billion

04.07.2024

Artificial intelligence startup Scale AI announced on Tuesday that it raised $1 billion in a Series F funding round, valuing the enterprise tech company at $13.8 billion — nearly double its previous reported valuation. Based in San Francisco and ranked 12th on this year’s CNBC Disruptor 50 list, the company has now raised a total of $1.6 billion.

The latest funding round was led by Accel and includes investments from Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil (co-founder of Color Genomics and a prominent tech investor), and Meta, all of whom are new investors in the company.

Existing investors such as Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Nvidia, Tiger Global Management, Greenoaks, and Wellington Management also participated in this round.
Scale AI is playing a key role in the rise of generative artificial intelligence and large language models, with the data — whether it is text, images, video or voice recordings — needing to be labeled correctly before it can be digested and used effectively by AI technology. Scale AI has evolved from labeling data used to train models that powered autonomous driving to now helping to improve and fine-tune the underlying data for nearly any organization looking to implement AI, powering some of the most advanced models in use.