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