Sama intends to use the funds to develop the first end-to-end AI platform that enables teams to manage the complete AI lifecycle from start to finish, resulting in faster development, and elimination of data transfer between products.
The Investment
Sama, the AI company delivering accurate data for ambitious AI to Fortune 2000 companies, today announced an oversubscribed $70 million in Series B financing. Vistara Growth participated in the round, which is led by Caisse de dépôt et placement du Québec (CDPQ), a global investment group, with additional participation from First Ascent Ventures and Salesforce Ventures, in addition to all existing investors.
The AI data solutions landscape is highly fragmented, with many products built in silos, each solving one piece of the puzzle for developers. Sama will be using its new funding to build the first end-to-end AI platform that enables teams to manage the complete AI lifecycle from start to finish, resulting in faster development, and elimination of data transfer between products.
“We are excited to support Sama on its journey to building a full end-to-end AI model and training data platform. It’s a true testament to the Company that they have been able to build such an impressive base of blue-chip clients while staying true to their mission of providing accurate and high-quality training data while working to reducing poverty and empowering women. We are excited to be a part of the company’s next phase of expansion in this high growth market.”
– Neil Kenley, Director of Investments at Vistara Growth
Sama powers cutting-edge technology by providing industry-leading training data quality for its clients, achieving up to 99.9% accuracy versus the industry average of 94%. To date, Sama agents have annotated over 1B image points on the platform, with an average of 1M tasks completed per month across industries such as manufacturing and robotics, bio and MedTech, autonomous vehicles, and entertainment. This allows the company to provide its customers with the highest quality training data for their AI projects to help them commercialize their technology faster.
“At Sama, we’re committed to shaping a future of AI that’s accurate, fair, and ethical,” said Wendy Gonzalez, CEO of Sama. “The market is really fragmented but with our latest funding round and the support of our investors and community, we’re committed to becoming the first one-stop-shop for AI development.”
Achievement & Recognition
Included in B Corp’s Best for the World in the Workers category and as the only AI training data company to be B Corp certified, Sama’s ethical hiring model has helped over 56,000 people in Kenya and Uganda lift themselves out of poverty. To date, Sama is the only AI training data provider with a responsible training and employment program.
The company has received several recognitions, including inclusion on the Forbes AI 50, Inc. 5000 Fastest-Growing Private Companies, and Fast Company’s World Changing Ideas lists.
Learn more about Sama’s solutions by visiting: https://www.sama.com/.
About Sama
Sama provides high-quality training data that powers AI technology. The company’s platform is trusted by leading companies such as Google, NVIDIA, GM, and Walmart, to develop accurate machine learning models. Sama specializes in image, video, language, and sensor data annotation and validation for machine learning algorithms and has experience in a variety of industries including autonomous transportation, medtech, agriculture, and retail. Driven by a mission to expand opportunities for underserved individuals through the digital economy, Sama is a certified B-Corp and has helped over 56,000 people lift themselves out of poverty. Its training and employment program were recently validated by an MIT-led Randomized Controlled Trial. For more information, visit www.sama.com.
About CDPQ
At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate, and private debt. As of June 30, 2021, CDPQ’s net assets total CAD 390 billion. For more information, visit cdpq.com, follow us on Twitter, or consult our Facebook or LinkedIn pages. For more information on the Equity 253 fund, visit cdpq.com/en/equity25-3.
About Vistara Growth
Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in. For more information, visit vistaragrowth.com
Interested in Growth Funding?
If you’re interested in growth funding for your mid-stage technology company, talk to us! We would be delighted to discuss our flexible growth capital solutions.
