DefinedCrowd secures US$50.5M in series B funding

Our plans to accelerate product development and global growth are in full swing  

I am excited to announce that DefinedCrowd has raised an additional US$50.5M in a Series B funding round. It’s the largest ever Series B funding to be raised by a female-founded AI company in the US, and it is testament to the exceptional work this company has been doing since day one.  

Thank you to our existing investors Evolution Equity PartnersKibo Ventures, Portugal VenturesBynd Venture Capital, EDP Ventures and IronFire Ventures; your support is an incredible validation of what we have achieved in not only the last year, but also the last four-and-a-half years of operation.  

Thank you also to our new investors Semapa Next and Hermes GPE. Welcome to the DefinedCrowd family. They join a prestigious group of long-term investors including Amazon Alexa FundSony Innovation Fund and Mastercard in supporting DefinedCrowd’s goal of becoming the world’s number one data provider. 

This capital injection will enable us to rapidly enhance our existing products, and develop and launch new, innovative offerings that will further accelerate the AI programs of our clients. We will also be expanding the scope and scale of our sales and support globally to provide an overarching experience for our clients. It is an exciting time!

We’ve achieved so much in such a short time… 

It’s been an incredible 15 months for us at DefinedCrowd. In the last year, we’ve grown our revenue by a staggering 656% and our workforce by 176% YoY. We also received our ISO 27001 certification, launched our Neevo app and won a host of accolades. These include ranking on Forbes’s list of America’s most promising AI companies, and featuring in the top 50 of Forbes’s 500 Best Startup Employers in America.  

It’s amazing to think of how far we have come in such a short time. A few years ago, I saw the gap between the AI models data scientists wanted to develop and the training data available to build them. Over a lunch and PowerPoint presentation, I managed to secure a US$200,000 investment to start the company and the rest, as they say, is history. Fast forward four-and-a-half-years and we are now raising US$50.5M in third-round funding.  

It’s clear that our  innovative SaaS platform, industry-leading quality and fast-delivery guarantees have cemented our global reputation as the trusted source for AI data.  

Our future is looking bright. The demand for AI-enabled products is increasing exponentially across almost every industry  and geography.  With our  talent,  resources,  and valued investors  we are  well on our way to achieving our goal of becoming the world’s best data company for artificial intelligence.

DefinedCrowd in numbers: what we have achieved 

2015

Raised US$200,000 startup capital


2016

Raised US$1.1M in a Seed round 


2018

Raised US$11.8M in a Series A funding round 


2020

Raised US$50.5M in a Series B funding round 


April 2020

Global workforce of over 250

Increased revenue by 656% YoY  

4 offices in Seattle, Lisbon, Porto and Tokyo



Awards


CB Insights: top 100 AI companies

Named one of  the 100 Hottest Startups by Wired

Ranked in Forbes AI 50 Most Promising Artificial Intelligence Companies

Featured in the top 50 of Forbes’s Best Startup Employers 


Keen to join us on this exciting journey? Visit our careers page, here

Want to get in touch to discuss how we can help you with your AI project? Write to us at [email protected]