Cleanlab, a San Francisco, CA-based company behind the automated data curation solution used to increase the dollar value of every data point in enterprise artificial intelligence (AI), large language model (LLM), and analytics solutions has secured $25 million in Series A funding.
This financing round was co-led by Menlo Ventures and TQ Ventures.
Menlo Ventures is a venture capital firm based in Menlo Park, California with an additional office in San Francisco, California. The firm invest at every stage and in every sector, with expertise in Consumer, Enterprise, and Healthcare. Over 47 years, the firm has grown a portfolio that includes more than 80 public companies, over 165 mergers and acquisitions, and currently has $5.6 billion under management.
TQ Ventures is a venture capital firm based in New York City. The firm is generally agnostic on industry vertical and geography and instead prioritizes partnering with extraordinary founders across the software complex (B2B and B2C). The firm focuses on investments in early-stage and growth startup companies. Across its more than 80 global investments, they believe the differentiated support and networks we provide our founders have fueled our reputation and in turn performance record.
Menlo Ventures' Matt Murphy and TQ’s Schuster Tanger will join the board.
Cleanlab Use of Funds
The funding will help the company further develop and expand its platform.
Founded in 2021, Cleanlab is focused on data-centric AI (DCAI), providing algorithms/interfaces to help companies (across all industries) improve the quality of their datasets and diagnose/fix various issues in them. They develop next-generation DCAI algorithms that they release publicly as open-source software as well as enterprise SaaS products with interfaces for data scientists/engineers to effectively improve their data quality and produce more reliable ML models. Cleanlab's platform helps increase the reliability and profit margin of enterprise analytics, LLM, and AI decisions by automatically adding smart metadata to messy, real-world data.
Company: Cleanlab, Inc.
Round: Series A
Funding Month: October 2023
Lead Investors: Menlo Ventures and TQ Ventures
Company Website: https://cleanlab.ai/
Software Category: Automated Data Curation Software