Wirestock, which originally helped photographers sell work through stock platforms, has raised $23 million in a Series A led by Nava Ventures, with participation from SBVP, Formula VC, and I2BF Ventures, after pivoting to become a multimodal AI training data supplier.
The company, led by co-founder and CEO Mikayel Khachatryan, now sources images, videos, design assets, and 3D content from a network of more than 700,000 artists and designers, supplying datasets to six of the world’s largest foundation model developers. Wirestock currently generates $40 million in annual run-rate revenue and has paid out $15 million to contributors since the pivot began in 2023.
The platform operates similarly to a freelance marketplace, with contributors completing data collection tasks and undergoing AI and human quality reviews before acceptance. Wirestock differentiates itself by focusing on creative and generative AI use cases — image, video, and potentially audio generation — rather than general-purpose datasets.
Freddie Martignetti of Nava Ventures said multimodal data is becoming critical not just for generating media but for enabling models to complete real-world tasks. Wirestock plans to use the funding to grow its research, engineering, and product teams and build enterprise collaboration software for AI labs.
Featured image: Credit: Wirestock
