20 November 2019:
Samasource has raised $14.8 million in Series A round of funding. The funding round was led by Ridge Ventures. Social Impact Ventures, Bestseller Foundation, and Bluecrest Limited Capital also participated in the funding round.
The company will use the fresh capital to scale it’s engineering, sales and marketing efforts.
Ben Metcalfe, principal at Ridge Ventures, said, “One of the biggest drivers of AI model value is the quality of the labeling and tagging of the corpus of training data. While many in the industry use casual, untrained gig-economy labor with poor results, I was excited to see the quality, security and high throughput Samasource achieves for its clients.”
Ben Metcalfe, added, “It’s no surprise that so many leaders in the AI and Machine Learning space rely on the company for its best-in-class data labeling services to help build their world-changing models. As Samasource continues to combine software intelligence with their inspiring workforce, I’m honored to partner with them to bring forth the next AI-powered industrial revolution.”
Leila Janah, founder and CEO of Samasource, said, “To receive the funding support of Ridge Ventures has allowed us to accelerate growth beyond our expectations.”
Leila Janah, added, “AI is growing at breakneck speed, and we know the biggest bottleneck is secure, high-quality training data. Our emphasis on investments in technology and talent will deepen our level of service to AI teams at the world’s leading tech and automotive companies.”
With this investment, Samasource opened an AI Development Center in Montreal, Canada and a delivery center in Kampala, Uganda adding to its global presence in San Francisco, New York City, the Hague, Gulu, and Nairobi.
(Image – Samasource)