On April 7, 2021, Wiggers Venturebeat announced they had led a Series B round of 79 million in Labelbox Capital Group.
With this round of capital, Labelbox is now valued at over $800 million.
Labelbox Capital Group is a data annotation platform that enables developers and data scientists to set up data pipelines quickly and accurately.
This influx of capital will help them continue growing their platform and offering new solutions.
Labelbox Capital Group 79m Wiggers Venturebeat Investing in Labelbox
Labelbox Capital Group is a venture capital firm specializing in the technology space. The company is led by CEO David Wiggers, who has over 25 years’ experience in the tech industry.
Labelbox is passionately dedicated to helping entrepreneurs disrupt existing industries and create new solutions to meet future customers’ needs. The team have learned from a variety of successful investments, as well as from their prominent position at the forefront of technological advances.
Labelbox takes an intentional and value-driven approach to investing in early-stage technology ventures. Labelbox hopes to provide growth capital by partnering with early-stage entrepreneurs and remain actively involved through each stage of the business lifecycle.
Labelbox works closely with startups focusing on Machine Learning/AI, Internet, Mobile/Web applications, Gaming + esports and Robotics, Automation + IoT (Internet of Things). Alongside this direct co-investment they also take part in select larger venture deals alongside other well established VCs & firms.
Overview of Wiggers Venturebeat
Wiggers Venturebeat is an investment fund established by a global team of entrepreneurs with deep sector experience in big data and machine learning. The fund focuses on early-stage startups that leverage the power of machine learning and artificial intelligence to develop innovative products and create value for their customers. It has joined forces with Labelbox to support the venture’s growth by leading its Series A round, which raised $10 million in capital.
Labelbox is a comprehensive platform that enables users to quickly and easily manage the labeling projects they use to train their machine learning systems. Labelbox provides labeling tools (like annotation, rule-based tags, and automated image detection) and analytics tools (such as performance analysis, team collaboration, and project management). With this infusion of new financial resources, Labelbox is now positioned to grow beyond its current customer base and reach even more developers who need reliable enterprise AI solutions.
Wiggers Venturebeat has become an important stakeholder in Labelbox’s success journey through this investment round. The fund will guide in scaling up the venture across multiple channels including international expansion, strategic partnerships etc., to support its success over the long term. In addition, they aim to empower innovators from all corners of the digital world by ensuring their dreams come true when building strong products for digital users.
Investment Details
Recently, Wiggers Venturebeat has invested 79 million into the capital group Labelbox. This investment marks a milestone in the growth of Labelbox, as the capital group looks to expand their capabilities and offerings in various businesses.
Let’s look at the investment details and what Wiggers Venturebeat expects from this.
Amount of Investment
In July 2020, Wiggers Venturebeat announced an investment of $24 million in Labelbox, a cloud-native data labeling platform. This strategic investment indicates Wiggers Venturebeat’s commitment to advancing marketplace solutions and enabling organizations to progress their workflow automation initiatives.
This latest funding comes partly from prior investments made by Coatue Management, Acrew Capital and others. As a result, the amount invested into Labelbox now totals over $32 million — the highest single-round investment raised in the applied machine learning and data annotation space.
The funds will accelerate Labelbox’s product roadmap and global expansion efforts, allowing teams to collaborate on and finish projects faster without sacrificing accuracy. In addition to expanding its feature set, Labelbox recently launched a certification program for professionals looking to become expert practitioners in machine learning annotation best practices.
With this new round of funding, Wiggers Venturebeat is continuing their mission of investing in companies disrupting traditional workflows. This goal will continue to be pursued with further investments yet to come.
Benefits of Investment
Investing in Labelbox provides a range of benefits such as introducing new technology to the label industry, leveraging strategic partnerships with the industry’s leading suppliers, and accessing a proven track record of successful investments.
Labelbox specializes in developing tools for labeling data for machine learning—technology that powers speech recognition, autonomous vehicles, and facial recognition. By investing in Labelbox, you’re also investing in the ever-growing field of Machine Learning (ML). This technology quickly becomes the primary driver behind many of today’s most popular consumer products. As a result, many investors see ML investments as low risk opportunities with generally high returns over time.
Labelbox also stands out due to its long-term experience in the label space – making them well positioned to net significant returns with smart investments backed by strong relationships throughout the industry. Vaccinex is just one example of their successful portfolio companies; this immunology company has continued growing rapidly since they became part of Labelbox’s portfolio in 2018.
By investing in Labelbox early on, investors can capitalize on their key partnerships with market leaders like Microsoft and Samsung and benefit from their proven track record for making successful investments over several years. As a result, investing in Labelbox can be a lucrative option for those looking for high growth potential combined with a relatively lower risk than more established players in the venture capital space.
Labelbox’s Impact
Labelbox is a data annotation platform that has recently secured a 79 million dollar investment from Wiggers Venturebeat. This has been a huge boost for Labelbox as it looks to revolutionize how businesses handle their data with its annotation platform.
This investment has dramatically impacted Labelbox’s growth, so let’s explore the full scope of this new development.
Labelbox’s Growth
Labelbox, a San Francisco-based company that provides data labeling services for machine learning projects, has seen significant growth in the past year. Their platform is used to label document images, images from different camera angles and frame-by-frame video clips to create datasets which then power AI models. In addition, these labels can be used in computer vision applications such as speech recognition and natural language processing.
The company has been making moves to increase their business over the past year by investing in development efforts for cloud deployments and open source integrations with HIPAA compliant healthcare entities, MLOps capabilities with support for model training and deployment pipelines, enterprise-level enterprise security management (ESM), as well as overall scalability and performance improvements.
Additionally, Labelbox has seen a surge in demand from companies using their data labeling platform to increase decision accuracy on AI projects related to surveillance, medical imaging processing, facial recognition technologies and autonomous vehicle systems. The expanding use cases of their technology have allowed them to become more valuable to potential customers while increasing their potential user base.
Labelbox’s recent success attracted investors including Wiggers Venturebeat which has led the company’s Series A funding round of $25 million this past January 2021 – a major investment into Labelbox’s long term success as they move towards further innovation in the Machine Learning space. With this extra funding and strategic partnership with prominent venture capital firm Wiggers Venturebeat Labelbox is expected grow its current customer base tenfold within the next two years.
Labelbox’s Impact on the Market
Labelbox’s mission to power data automation sets a new machine learning enterprise readiness standard. Founded by a team of experienced engineers, they have developed an enterprise ready data annotation and labeling platform that accelerates training high-quality models. In addition, by managing the labeling process end-to end, Labelbox has opened new doors for companies to leverage their data to build AI applications without worrying about managing individual contractors or outsourcing their data processing and labeling activities.
The platform combines intuitive interface design with comprehensive project management capabilities, enabling users to easily delegate tasks and annotate various media types such as text, video, images and audio with rich label sets. By leveraging this rapid development cycle, companies can achieve market improvements with speed that wouldn’t be possible using traditional methods.
Labelbox’s core features also allow users to define custom validation rules during the labeling process to streamline quality assurance processes. In addition, with powerful collaboration and publishing tools, users can easily share models between teams in different departments or organizations, eliminating costly replication efforts.
As machine learning technology matures and becomes increasingly important across a wide range of industry verticals, Labelbox’s impact on the market will only grow – enabling organizations worldwide to scale their machine learning procedures faster than ever before.
Wiggers Venturebeat’s Investment Strategy
Wiggers Venturebeat is a venture capital firm that invests in high-growth startups. It recently invested $79 million into the Labelbox Capital Group, a software and data annotation platform. They saw huge potential in the platform and wanted to take part in its growth.
Let’s take a closer look into Wiggers Venturebeat’s investment strategy.
Wiggers Venturebeat’s Investment Goals
At Wiggers Venturebeat, we are focused on investing in companies that are using technology or innovative business models to solve big problems, create value for both customers and users, and have the potential to become large, industry-leading organizations. We seek out early-stage investments in software, media & entertainment, digital health, artificial intelligence and machine learning sectors.
Our investment strategy is led by our team’s experienced venture partners who have established, diversified portfolios across various industries and stages of business development. We believe in taking a long-term view when it comes to investing—we want to back entrepreneurs who come up with creative solutions that can disrupt current markets or create entirely new markets in the years to come. That’s why we focus on investing in companies that can quickly gain traction.
We recently invested in Labelbox for example–which provides an end-to-end data platform for data labeling with the help of AI tools which accelerates the process and reduces human labor costs associated with manual data annotation tasks. We believe that Labelbox will be able to make a meaningful impact by helping businesses quickly label their data accurately and efficiently using state-of-the art AI tools — giving them insight into their business faster than ever before.
Wiggers Venturebeat’s Investment Strategy
Wiggers Venturebeat is an investment firm founded in 2017 by brothers Nu and Nan Wang. Its main objective has always been to partner with promising companies that have the potential to become leaders in the tech industry. Since its inception, Wiggers Venturebeat has made investments across a wide range of industries, including artificial intelligence (AI), machine learning, data science, computer vision, software-as-a-service (SaaS), and virtual reality/augmented reality (VR/AR).
The company’s most recent investment is in Labelbox. This San Francisco AI startup provides a platform for labeling data that teaches machines how to recognize and accurately process similar images or groups of data. By partnering with Labelbox, Wiggers Venturebeat believes it will be able to help advance AI capabilities across industries including health care, Agriculture and financial services.
To continue its successful track record of investments into startups at the forefront of tech trends, Wiggers Venturebeat considers each investment opportunity through a four-step strategy:
1) Selecting a target industry;
2) Identifying companies with sound business models;
3) Attaining detailed due diligence and conducting interviews with team members;
4) Developing an investment thesis before acting on the opportunity.
Wiggers Venturebeat has invested over $100 million into emerging technologies by following this strategy. The company continues to look for opportunities where it can partner up with promising companies that have the potential to be future leaders in their respective fields.
Conclusion
The 79 million dollar investment in Labelbox by Wiggers Venturebeat signifies the increasing importance of data annotation and labeling services among investors. The capital group invests in the technology-driven start-up to expand its market reach and presence. This move will add more value to its data annotation services and position itself as a major player in the industry.
Let’s look after this investment.
Summary of Investment
Labelbox is a data annotation platform to create training data for computer vision models. It has recently gained increased attention due to the new funding it received from venture capital firm, Wiggers Ventures. This round of funding was led by co-founder Mike Wiggers and included investments from Salesforce Ventures and others.
This new investment enhances Labelbox’s move into machine learning (ML) with additional support for ML applications including image and video annotation. This type of annotation helps machines more accurately recognize objects and scenes from images, videos, and other forms of data making them better equiped for solving computer vision challenges.
The total amount invested was not disclosed, but with the help of its new investors, Labelbox will continue to unlock value by providing accurate labeling services that allow users to develop their applications based on their datasets. In addition, the company plans to further improve its technology stack so that users can use AI-as-a-service offerings more effectively, allowing them to gain insights faster than ever before.
Future of Labelbox
Labelbox has come a long way since launching in 2018 and is currently leading the industry with innovative approaches to AI annotation and automation. Looking into the future, Labelbox CEO Manu Sharma sees a future of expanding their suite of products and teaming up with other companies to provide even better data-driven products. This could include joining forces with other AI startups so they can leverage one another’s strengths or partnering with larger tech giants to combine feature sets and scale customer support faster than ever.
Ultimately, Wiggers’ investment in Labelbox should help open up new markets for their technology, create additional opportunities for partnerships, and build more trust in the data that Labelbox works with. Artificial Intelligence isn’t going anywhere anytime soon, so having Wiggers behind them will help them stay ahead of competitors in the industry.
Labelbox recently announced their second public offering of capital through SeedInvest in 2021, which will further strengthen their position as a data annotation leader. All in all, this represents an exciting opportunity for both companies which is sure to bring more disruption and innovation to AI-related services.
tags = Labelbox Capital Group, Venturebeat, Data Annotation, next big thing in AI, labelbox series capital group 79mwiggersventurebeat, Data Annotation, Labelbox offers, Data Experts Team
