6 years ago

CloudFactory Raises $65 Million to Expand AI Workforce Solutions

  • CloudFactory, a UK-based provider of managed workforce solutions for artificial intelligence (AI), has secured $65 million in growth equity funding led by FTV Capital with participation from Weatherford Capital

  • The company plans to use the funds to invest in workforce development, education and training, strategic investments in sales and marketing, and technologies and expanded capabilities in existing systems

  • CloudFactory leverages AI and machine learning algorithms to deliver high-quality data for businesses of all sizes, processing millions of tasks a day for clients such as Microsoft, Drive.ai, Ibotta and nuTonomy.

      • ProblemTechnology

      "AI companies need high-quality data to train their models, but getting this data can be expensive and time-consuming. Many companies don't have the resources to hire and manage a team to label and annotate data."

      Solution

      "CloudFactory provides a managed workforce solution that can be used to annotate and label data for AI companies. The company uses a combination of human and AI expertise to deliver high-quality data at a lower cost than traditional methods."

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