Scale AI Raises $1B Series F to Push the Frontier of AI Data
SAN FRANCISCO, May 21, 2024 -- Scale AI today announced it has closed a $1 billion financing transaction, bringing the company to a valuation of nearly $14 billion. Existing investor Accel led the round with participation from returning investors including Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, NVIDIA, Tiger Global Management, Greenoaks, and Wellington Management. New investors include Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, and Meta.
Scale’s calling is to build the data foundry for AI. With today’s funding, the company is moving into the next phase of that journey – accelerating the abundance of frontier data that will pave our road to artificial general intelligence. Scale has a deep track record solving the data challenges of companies such as OpenAI, Meta, and Microsoft. This new funding will also enable Scale to build upon its prior model evaluation work with enterprise customers, the U.S. Department of Defense, and work on the White House-announced DEFCON 31 red-teaming event to deepen its capabilities and offerings for both public and private evaluations.
As AI models evolve, the quality, quantity, and complexity of frontier data—the data needed to drive and ensure performance—increases exponentially. As the data foundry for AI, Scale powers the data behind the end-to-end AI lifecycle, ensuring model builders and enterprises alike have the data they need to deploy AI confidently.
“Data abundance is not the default; it’s a choice. It requires bringing together the best minds in engineering, operations, and AI,” said Alexandr Wang, CEO and founder of Scale AI. “Our vision is one of data abundance, where we have the means of production to continue scaling frontier LLMs many more orders of magnitude. We should not be data-constrained in getting to GPT-10.”
"From day one, Scale has been laser-focused on unlocking the potential of data for AI. All of the major advancements in the industry we have today wouldn’t have been possible without Scale’s data engine at the center," said Dan Levine, partner at Accel. "Their vision is why we first partnered with Scale in the earliest days and why we continue to believe that their expertise remains paramount in addressing the industry's growing needs for high-quality data as the AI industry continues to push the boundaries of what’s possible."
The mix of primary and secondary financing brought Scale’s valuation to $13.8 billion.
J.P. Morgan and Allen & Co served as placement agents to Scale AI in connection with this transaction.
About Scale AI
Scale is fueling the Generative AI revolution. Built on a foundation of high-quality data and human insight, Scale’s proprietary Data Engine powers the world’s most advanced models. Our years of deep partnership with every major model builder enables us to provide the roadmap for any organization to apply AI. Scale is trusted by industry leaders, including Meta, Morgan Stanley, Microsoft, the U.S. Army, the DoD’s Defense Innovation Unit, OpenAI, General Motors, and Toyota Research Institute.
Source: Scale AI
