Scale AI, a San Francisco, CA-based data foundry for AI, raised $1 Billion in Series F funding.
The mix of primary and secondary financing brought Scale’s valuation to $13.8 billion.
The round was led by existing investor Accel with participation from returning investors including Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, NVIDIA, Tiger Global Management, Greenoaks, and Wellington Management. New investors included Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, and Meta.
The company intends to use the funds to deepen its capabilities and offerings for both public and private evaluations.
Led by CEO and Founder Alexandr Wang, Scale leverages a proprietary data engine to power advanced models and provide the roadmap for any organization to apply AI. It is used by industry leaders, including Meta, Morgan Stanley, Microsoft, the U.S. Army, the DoD’s Defense Innovation Unit, OpenAI, General Motors, and Toyota Research Institute.
Commenting on the news, Alexandr Wang said: “Our vision is one of data abundance, where we have the means of production to continue scaling frontier LLMs many more orders of magnitude. We should not be data-constrained in getting to GPT-10.”
FinSMEs
21/05/2024