DefinedCrowd Closes $11.8 million Series A Funding Round

Big news here at DefinedCrowd this week! Less than three years after our founding in August 2015, I’m beyond proud to announce the closing of an $11.8 million Series A funding round led by New York/Zurich based Evolution Equity Partners.

We’re delighted to welcome Kibo Ventures, EDP Ventures and Mastercard as new investors and are happy that Sony, Portugal Ventures, Amazon and Busy Angels have continued to put their faith in what we’re building.

It’s been a big year for us so far. In January, we publicly unveiled our SaaS platform, which helps data scientists collect, enrich, and structure data to train AI and ML models.

People have noticed.

“DefinedCrowd’s SaaS platform has very quickly positioned the company as an innovative leader to solve AI/ML’s global most pressing problem, the need for continuous access to highly accurate data,” says Dennis Smith, Founder and Managing Partner at Evolution Equity Partners and the newest member of DefinedCrowd’s Board of Directors.

Turns out he’s not the only one who’s been unable to resist jumping on board. In April, after opening our fourth office (the first in Tokyo), Stephen Rauch — a former Starbucks, HBO, and Microsoft Executive — joined DefinedCrowd as our VP of Product.

This Series A round is a real milestone for DefinedCrowd. Again, it’s only been three years since we started on this road, and we’re thrilled to have gotten ourselves to this mile-marker in such a short period of time.

It also means we’re raring to fuel up and drive on. After all, with over 500,000 processed units/day, a growing crowd on Neevo that’s already 45,000+ strong, and data collected in over 46 languages,  we’re used to moving fast around here.

AI models are like high-performance vehicles. Data is the fuel that keeps them running smoothly. Imagine you’re driving your brand new $500,000 Ferrari off the lot. You pull up to a gas station to fill up. Would you risk damaging that beautiful, 700 horsepower engine with unleaded fuel? No. You’re choosing premium. Only the highest quality will do.

That’s where we come in. We’ve been fueling the AI initiatives of Fortune 500 companies from day one. This new capital means we’ll be able to continue doing so, at larger scale, as we offer more clients more solutions to their AI needs.

Expect to hear more from us as we develop our product offering, double our team by December 31st, increase revenue six-fold, and rapidly increase our global market share through strategic partnerships (More coming on this soon!).

We also have big plans to grow and qualify our crowd on Neevo and ensure data security through GDPR compliance and ISO certifications.

2018’s already been a big year at DefinedCrowd, and the future looks bright. More big news coming. Stay tuned!

In the meantime, if you’re building something of your own, check out  our solutions, or write to us at sales@definedcrowd.com.

If you want to build with us, check our Careers Page for current openings.

Bringing Inspiration Home: Our COO Reports on Microsoft Inspire

Hi everybody. Happy to be writing you from the cool PNW air after spending the first part of the week at the Microsoft Inspire Conference in Vegas.

Inspire was a fantastic opportunity to get face-time with colleagues from the Microsoft Partner Network’s startup ecosystem. I made fantastic business contacts, had great discussions, and most importantly, got a few days to dedicate my focus to DefinedCrowd’s long-term growth next to a lot of smart people with firsthand knowledge of the pains startups experience when they begin to scale.

Microsoft Inspire first day

I also had the opportunity to attend presentations and think about the AI revolution we spend our day-to-day grinding toward on a macro-level. I was—I’ll just say it— inspired by a presentation on Microsoft’s AI Earth initiative and the development of ML models that improve conservation, farming practices, and understandings of diverse ecosystems. At DefinedCrowd, we’re proud to be leading the way to a future where AI plays an essential role in solving some of our biggest societal ills.

That’s not just some line I’m being fed from marketing. For us, it’s a pillar. Before founding DefinedCrowd, our CEO Daniela spent years developing and advocating for widespread use of speech interfaces as the basis of assistive technologies (Cortana and Alexa have since proved her right) mainly because she saw the benefits to the blind, elderly and infirm. We believe in what we’re building and in the possibility for a world where fateful calls from freeway shoulders disappear, and no doctor has to say “if only we’d caught it earlier” ever again.

However, we know the AI revolution only gets us to that future if there’s a moral code at its foundation. That’s why I want to close with the idea of a “Hippocratic Oath” for AI, first proposed by Microsoft’s Brad Smith and Harry Shum in their book The Future Computed, and further drawn out by Oren Etzioni at TechCrunch (If you don’t read them you should. Right now. Start here, or here, or even here to see what they’ve been saying about us.)

I won’t lay it out entirely. Instead, here are some lines that stuck with me:

“1. [We] will apply, for the benefit of the humanity, all measures required, avoiding those twin traps of over-optimism and uniformed pessimism.

2. [We] will remember that there is an art to AI as well as science, and that human concerns outweigh technological ones.

3. My [Our] AI will seek to collaborate with people for the greater good, rather than usurp the human role and supplant them.

DefinedCrowd will grow this year. A lot. At Inspire, I heard a ton of buzz surrounding “new” use cases for AI in industries like Fintech, Food & Drink, Retail, and more. None of those use cases surprised me. Because our product offering is, and always has been, industry agnostic, we’ve been doing work across industries like these since day one. We’re in a fantastic position as more kinds of businesses find more solutions in AI and ML models. Just know that as we grow, we’re thinking hard about how to do it the right way.

A talk at Microsoft Inspire about Artificial Intelligence and Machine Learning

Thanks to everyone at Microsoft who helped put Inspire on, and who took some time to meet me in Vegas. I can’t wait to see where we are this time next year.

In the meantime, if you want to know how AI can solve problems for you, Check out  our  solutions. And, speaking of growth, we’re hiring. A lot. Check out our  Careers page for opportunities to build incredible things with us at DefinedCrowd.

We’re looking forward to hearing from you.

DefinedCrowd Intelligent Data Platform for Speech and NLP

On behalf of the DefinedCrowd team, welcome!

Today, we are super excited to introduce the new DefinedCrowd Intelligent Data Platform for Speech and Natural Language Processing (NLP) applications! It is designed by our brilliant in-house Speech Data Scientists as an extension of enterprise data infrastructure for data training and modelling. The DefinedCrowd platform combines the modern Crowd-as-a-Service model with machine learning techniques to drive for higher quality, more transparent, and faster throughput for our Fortune 500 clients. For more information, please visit: http://www.marketwired.com/press-release/-2094139.htm

Additionally, we are happy to share that DefinedCrowd has been accepted into Microsoft News_image2bVentures Accelerator Seattle for Spring 2016! We are looking forward to collaborating with Microsoft and its partners! Check it out at Microsoft Ventures Blog .