MLtwist Secures Investment from Village Global and Hike Ventures
MLtwist, which labels and prepares training data for the adtech and energy industries, has raised investment from Village Global and Hike Ventures. MLtwist also saw participation from other angel investors who are industry leaders.
The Santa Clara-based company will use the funds to continue development of a cloud-based, automatic self-service solution, increase the number of platform integrations, and speed up scale capacity.
“We believe AI is fundamental to our future, and the need for accurate labeling and classification of unstructured data at scale is essential.” Anne Dwane, Co-Founder & Partner – Village Global
“We believe AI is fundamental to our future, and the need for accurate labeling and classification at scale of unstructured data is essential. MLtwist’s leadership team has been in the data labeling space since its inception. One of our portfolio companies is already using MLtwist’s technology, and has seen marked time savings that they are now able to allot to model training and testing,” said Anne Dwane, co-founder & partner at Village Global.
MLtwist runs labeling programs with integrations that automatically route data to optimal labeling platforms based on use case. Performance metrics dashboards help machine learning experts track which data is being processed and anticipate quality control issues.
The funding round will help the company develop more platform capabilities like machine learning-assisted quality control, natural language processing (NLP) automatic categorization, self-service JSON transformation, and integrations with synthetic and augmented data platforms.
“As investors in several AI companies, we have identified a wide market gap around upstream data preparation for machine learning models,” said Mikihiro Yasuda, partner at Hike Ventures. “These tasks consume around 50% of a data scientist’s time. MLtwist’s technology is primed to become a core component of high quality, cost effective data annotation solutions across a wide range of industries.”
David Smith, Chief Executive Officer, commented, “We are proud to have these visionary partners at an early stage of our development. With their support, we will increase our capacity to provide rapid, efficient labeling solutions to service our growing number of customers as we revolutionize the data labeling space.”