iMerit, a Los Gatos, CA-based data annotation and enrichment company, raised $20m in Series B funding.
The round was led by led by CDC Group, with participation from existing investors.
The company intends to use the funds to continue innovation for its proprietary AI platform and expand its advanced workforce from 3,000 employees across the US, India and Bhutan to 10,000 global employees by 2023.
Led by Ceo and founder Radha R. Basu, and DD Ganguly, President of iMerit USA, iMerit provides an Artificial Intelligence and Machine Learning platform that powers advanced algorithms in Machine Learning, Computer Vision, Natural Language Understanding, e-Commerce, Augmented Reality and Data Analytics. It works on data for transformative technologies such as advancing cancer cell research, optimizing crop yields and training driverless cars to understand their environment.
The company provides solutions across multiple markets including automotive, healthcare, e-commerce, finance, media and entertainment, and government.
Initial investors are Omidyar Network, Michael and Susan Dell Foundation, and Khosla Impact.