AI
AI
AI
Enterprise AI solutions startup Hive raises $85M on $2B valuation
Cloud-based enterprise artificial intelligence solutions startup Hive has raised $85 million in new funding to accelerate the growth of the company’s portfolio of cloud-based deep learning models through continued investments in products and increased investment in sales and marketing.
The Series D round was led by Glynn Capital and included General Catalyst, Tomales Bay Capital, Jericho Capital and Bain & Company. The funding valued the company at $2 billion.
Founded in 2013, Hive provides cloud enterprise AI solutions designed for intelligent automation. Offering a portfolio of deep learning models built with consensus-validated training data, the company’s AI automation can be applied to content moderation, sponsorship measurement, context advertising, retail execution, document parsing and data labeling.
Hive’s hosted machine learning models are offered by application programming interfaces and are charged on a usage basis. Companies can integrate with Hive’s pre-trained deep learning models to automate previously manual or nonscalable tasks of interpreting images, video, text and audio data.
The company pitches its service as differentiated by unparalleled accuracy, attributed to its vertically integrated model. Hive operates a distributed human workforce of more than 2 million registered contributors globally who are used to source and annotate high-quality training data. This training data powers Hive’s models which are collectively trained on more than 1 billion pieces of hand-labeled data.
Hive has found a willing audience having seen both its revenue and customer numbers increase by more than 300% in the last year off undisclosed bases. Notable customers include Bain & Co., NBCUniversal Media LLC, Interpublic Group of Companies Inc., Walmart Inc., Visa Inc., Anheuser-Busch InBev SA/NV and Reddit Inc.
“The full potential of enterprise automation goes far beyond the back office,” Kevin Guo, Hive co-founder and chief executive officer, said in a statement. “We’ve entered a new era where deep learning models can make human-level intelligence scalable for an increased number of practical and high-value automation use cases. We believe best-in-class AI should be accessible to companies of any size with the simplicity of an API call.”
Including the new funding, Hive has raised $121 million.
Image: Hive
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
