Artificial intelligence startup Scale AI announced on this week it has raised $1 billion in a Series F raise, valuing the company at $13.8 billion — the nearly double value of what it was worth in its last financing round. This financing brings the total amount of capital raised by Scale AI to $1.6 billion.
The funding was led by Accel and included new investors such as Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, and Meta. Existing investors like Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Nvidia, Tiger Global Management, Greenoaks, and Wellington Management also participated.
“Our calling is to build the data foundry for AI, and with today’s funding, we’re moving into the next phase of that journey — accelerating the abundance of frontier data that will pave our road to AGI,” founder and CEO Alexandr Wang said in a statement on the news.
Scale AI, ranked №12 on this year’s CNBC Disruptor 50 list, specializes in labeling data for AI applications, evolving from supporting autonomous driving models to enhancing data for various organizations. The company is increasingly involved with the public sector, securing a contract in August with the Department of Defense to advance AI capabilities across multiple military branches.
In May, Scale AI launched Donovan, an AI-powered decision-making platform, marking the first LLM deployed to a U.S. government classified network. As Wang stated at the AI Insight Forum in Washington D.C. AI is critical to national security because the way to adopt it will be decisive for how potential wars will be fought — and that is why the company is growing on a global scale. In so doing, he announced that a European HQ in London would be opened to work together with the U.K. government on AI initiatives.
Featured image: Credit: Forbes
