2024

Mistral AI

Billion

Scale, a company that specializes in infrastructure services and data labeling driven by AI, has <a href="https://scale.com/blog/scale-ai-series-f" target="_blank" rel="noreferrer noopener">secured </a>a $1 billion Series F round at a valuation of an astounding $13.8 billion from numerous well-known corporate and institutional investors. 
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 Today, we’re announcing that Scale has closed a $1B financing transaction at a $13.8B valuation, led by <a href="https://twitter.com/Accel?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Accel</a>. Read the full announcement: <a href="https://t.co/2lpLTHxjBp" target="_blank">https://t.co/2lpLTHxjBp</a> <a href="https://t.co/zzGUusrUit" target="_blank">pic.twitter.com/zzGUusrUit</a>— Scale AI (@scale_AI) <a href="https://twitter.com/scale_AI/status/1792868884716159347?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 21, 2024</a>
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This round, consisting of both primary and secondary offerings, was led by Accel, with significant participation from existing investors such as Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, NVIDIA, Tiger Global Management, Greenoaks, and Wellington Management.&nbsp; 
Additionally, Scale welcomed several new investors, including&nbsp; Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, and Meta. This substantial funding is expected to fuel Scale’s continued growth and innovation in the AI and data infrastructure space. 
In its eight years, Scale AI had raised over $600 million before this round, including a $325 million Series E in 2021 that put the company’s worth at almost $7 billion, double that of its Series D in 2020. 
After three years, Scale AI is now valued at $13.8 billion, the current market conditions as investors compete to profit from the AI gold rush, despite challenges that forced it to lay off 20% of its workforce the previous year. 
Scale plans to build the data foundry for AI, and with the new funding it will move into the next phase of their journey accelerating the abundance of frontier data that will pave our road to AGI. 
Rival OpenAI company Anthropic just received a $4 billion investment from Amazon, while other companies like Perplexity and Mistral AI are still raising more billion-dollar rounds at excessive valuations. 
Established in 2016, Scale AI combines machine learning and oversight from a “human-in-the-loop” to handle and annotate vast amounts of data. This is essential for preparing AI systems for use in some industries, including driverless cars. 
Alexandr Wang, CEO and founder of Scale AI, said, “Data abundance is not the default; it’s a choice. It requires bringing together the best minds in engineering, operations, and AI.”&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/16/senators-recommends-32b-ai-funding-over-3-years/" target="_blank" rel="noreferrer noopener">Senators Recommends $32B AI Funding Over 3 Years</a> 
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Scale Secures $1 Billion in Series F Funding From Investors

The Crypto Times

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