DefinedCrowd, a data provider for artificial intelligence, is receiving $50.5 million in a Series B funding round, which will support DefinedCrowd’s vision to create seamless interaction between people and machines.“With a strong focus on supporting promising startups with innovative technologies, Semapa Next is proud to invest in this Series B round,” said Ricardo Pires, Semapa Next’s CEO. DefinedCrowd has quickly shown that they are able to solve AI’s most pressing problem—the need for continuous access to highly accurate data. This has positioned the company as industry leaders, and we are excited to be part of it.”
This round includes participation from new investors Semapa Next and Hermes GPE, and existing investors Evolution Equity Partners, Kibo Ventures, Portugal Ventures, Bynd Venture Capital, EDP Ventures and IronFire Ventures.
They all join a group of long-term investors, including Amazon Alexa Fund, Sony Innovation Fund, and Mastercard, in supporting DefinedCrowd’s goal of becoming the world’s number one data provider.
With this investment, DefinedCrowd plans to expand its existing solutions, launch new innovative subscription-based offerings, and expand their global reach.
DefinedCrowd also plans to double the number of its employees and open more research and development offices around the world by the end of 2020.
“Closing this Series B funding round is an incredible validation of what we have achieved in just four-and-a-half years,” said Daniela Braga, DefinedCrowd’s founder and CEO. “Besides significantly increasing our client base of Fortune 500 companies, we’ve also grown our revenue within existing accounts, which proves our value proposition. Existing customers continue to demand more DefinedCrowd training data, while new clients are attracted by our growing reputation for high-quality, fast delivery and data privacy. With this funding, we’ll be able to continue with our plan for triple-digit expansion in 2020, allowing us to serve our clients even better.”
For more information about this news, visit www.definedcrowd.com.