Unstructured, a San Francisco, CA-based provider of tools to ingest and preprocess large language models (LLMs), raised $40m in Series B funding.
The round was led by Menlo Ventures with participation from Databricks Ventures, IBM Ventures, Sacramento Kings Chairman Vivek Ranadivé, Datastax CEO Chet Kapoor, Allison Pickens of the New Normal Fund, and NVentures, NVIDIA’s venture capital arm, as well as existing investors Madrona, Bain Capital Ventures (BCV), and Mango Capital. Tim Tully of Menlo Ventures joined the board of directors as part of the investment, which brings the company’s total capital raised to $65m.
The company intends to use the funds to grow its team and accelerate its development of data preprocessing tooling for LLMs.
Led by Brian Raymond, CEO and Founder, Unstructured is a provider of LLM data preprocessing solutions, empowering organizations to transform their internal unstructured data into formats compatible with large language models. By automating the transformation of complex natural language data found in formats like PDFs, PPTX, HTML files, and more, the company enables enterprises to leverage the full power of their data for increased productivity and innovation.
Since its founding in 2022, Unstructured has been at the forefront of the productization of enterprise LLMs—empowering organizations to quickly automate the transformation of its messy, unstructured data into formats necessary for retrieval augmented generation (RAG) and LLM fine tuning. Its open source library has been downloaded more than 6 million times, is used by more than 12,000 code bases, and more than 45,000 organizations, including more than one third of the Fortune 500, are using Unstructured to preprocess their proprietary data.
FinSMEs
14/03/2024