Relevance AI, a Sidney, Australia-based startup that has introduced a vector platform to help developers do more with unstructured data and to aid data scientists rapidly experiment with vectors, raised $3m in funding.
The round was led by Insight Partners with participation from Galileo Ventures and Archangel Ventures.
The company plans to use the funding to expand its global customer base and double its headcount.
Founded in 2020 by Jacky Koh and Daniel Vassilev, Relevance AI is a machine learning company building a platform to help developers work and experiment with vectors. Vectors are a specialized data type that allows for a high dimensional numerical representation of unstructured data such as text, image or audio so that it can be analysed for semantic similarities by a computer. Using Relevance AI, a developer can better work with vectors to reveal the semantics and insight from the unstructured data with minimal labelling or training, making it easier and more affordable for businesses of any size. Relevance AI serves more than 100 million weekly requests.
Relevance AI’s products are already used by more than 3 million end users, with 100 million weekly requests across all sectors including SaaS, e-commerce, education and gaming.