Appen Limited (ASX:APX), a Sydney, Australia-based global leader in the provision of high-quality, human-annotated datasets for machine learning and AI, is to acquire Figure Eight (previously known as CrowdFlower), a San Francisco, CA-based machine learning software platform which uses highly automated tools to transform unlabeled text, image, audio, and video data into high-quality AI training data.
Appen will pay USD $175M up-front and an additional payment of up to $125M in 2020 based on 2019 performance.
This acquisition combines Appen’s global crowd with Figure Eight’s innovative data annotation platform to create an end-to-end training data offering. Through the end of 2019, Figure Eight will operate largely independently as a division of Appen. Beyond 2019, the company’s team and technology will be integral to Appen’s future success.
Founded in in 2007 by Lukas Biewald, Figure Eight combines human and machine intelligence to provide high-quality annotated training data that powers innovative machine learning and business solutions. The company has released a variety of innovative capabilities to enhance its platform – including machine learning-assisted data labeling and video object tracking – that can create high-quality training datasets faster than human labeling alone.
Listed on the Australian Securities Exchange (ASX:APX) with offices worldwide and led by Mark Brayan, Chief Executive Officer, Appen is a global leader in the development of human-annotated datasets for machine learning and artificial intelligence. It brings over 20 years of experience capturing and enriching a wide variety of data types including speech, text, image and video, , working in over 180 languages and more than 130 countries.
The company partners with technology, automotive and eCommerce companies – as well as governments worldwide – to develop, enhance and use products that rely on natural languages and machine learning.