Scale AI Raises $1B In Accel-Led Round; Hits $13.8B Valuation

Scale AI raised $1 billion in a round led by Accel that values the data labeling and evaluation startup at a stunning $13.8 billion.

The valuation is nearly double the $7.3 billion the San Francisco-based startup hit after a $325 million raise in April 2021.

The new financing included some of the biggest names in tech, with Nvidia, Meta and Amazon all investing. Others existing investors participating in the round included Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Tiger Global, Greenoaks Capital and Wellington Management, as well as new investors Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM Investment Management and Elad Gil.

The new Scale AI round is the second $1 billion raise for a U.S.-based AI startup this month, after CoreWeave raised a whopping $1.1 billion in a fresh funding round led by Coatue in a deal valuing the company at $19 billion, per The Wall Street Journal.

Scale AI plays a key role in creating large language models, accurately labeling text, images, video and voice data. The startup also creates and fine-tunes data sets.

That’s not all

However, that is not the only big deal Accel was in on Tuesday.

Paris-based artificial intelligence startup H has launched with a $220 million round. In previous reports, the company was called Holistic AI.

The startup, created by a former Google DeepMind scientist, is looking to create “multimodal-to-action”  models capable of reasoning, planning and performing complex tasks.

The round included investment from the likes of Accel, UiPath, Bpifrance Large Venture, Eric Schmidt, Amazon and others.

Paris has turned into a hotbed of sorts in the new generative crazed world. Earlier this month, it was reported Paris-based Mistral AI was closing in on a huge new round that would value the OpenAI and Anthropic competitor at $6 billion.

Illustration: Dom Guzman