Enterprise AI options startup Hive raises $85M on $2B valuation

Cloud-based enterprise synthetic intelligence options startup Hive has raised $85 million in new funding to speed up the expansion of the corporate’s portfolio of cloud-based deep studying fashions by way of continued investments in merchandise and elevated funding in gross sales and advertising and marketing.

The Collection D spherical was led by Glynn Capital and included Common Catalyst, Tomales Bay Capital, Jericho Capital and Bain & Firm. The funding valued the corporate at $2 billion.

Based in 2013, Hive gives cloud enterprise AI options designed for clever automation. Providing a portfolio of deep studying fashions constructed with consensus-validated coaching knowledge, the corporate’s AI automation could be utilized to content material moderation, sponsorship measurement, context promoting, retail execution, doc parsing and knowledge labeling.

Hive’s hosted machine studying fashions are supplied by software programming interfaces and are charged on a utilization foundation. Firms can combine with Hive’s pre-trained deep studying fashions to automate beforehand guide or nonscalable duties of deciphering photos, video, textual content and audio knowledge.

The corporate pitches its service as differentiated by unparalleled accuracy, attributed to its vertically built-in mannequin. Hive operates a distributed human workforce of greater than 2 million registered contributors globally who’re used to supply and annotate high-quality coaching knowledge. This coaching knowledge powers Hive’s fashions that are collectively educated on greater than 1 billion items of hand-labeled knowledge.

Hive has discovered a keen viewers having seen each its income and buyer numbers improve by greater than 300% within the final 12 months off undisclosed bases. Notable prospects embrace Bain & Co., NBCUniversal Media LLC, Interpublic Group of Firms Inc., Walmart Inc., Visa Inc., Anheuser-Busch InBev SA/NV and Reddit Inc.

“The complete potential of enterprise automation goes far past the again workplace,” Kevin Guo, Hive co-founder and chief government officer, mentioned in an announcement. “We’ve entered a brand new period the place deep studying fashions could make human-level intelligence scalable for an elevated variety of sensible and high-value automation use instances. We imagine best-in-class AI ought to be accessible to firms of any dimension with the simplicity of an API name.”

Together with the brand new funding, Hive has raised $121 million.

Picture: Hive

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