Datasaur, a San Francisco, CA-based natural language processing (NLP) platform, announced that it closed $4 million in seed funding.
The round was led by Initialized Capital, with participation from HNVR, Gold House Ventures, and TenOneTen. With this new investment, Datasaur's total funding reached $7.9 million.
The latest investment will be used to democratize access to the latest advancements in NLP and LLM technology.
The company also announced the launch of a new feature called Datasaur Dinamic, which allows users to easily train custom NLP models with the click of a single button.
"I've long observed that the primary differentiating factor between NLP models is the underlying training data," said Ivan Lee, CEO and founder of Datasaur."We initially founded Datasaur with a focus on the labeling platform because that was the most painful, complex, and time consuming step in the NLP development cycle.We've built a configurable and comprehensive interface for labeling the petabytes of raw text and audio data companies have accumulated.Today we are in a perfect storm between the dizzying advancements in LLM technology alongside renewed vigor from business stakeholders in translating AI into cost savings and accelerated revenue generation.At this key inflection point, we're excited to accelerate our product development and help our customers tap into the full potential of NLP."
Datasaur has already supported prominent companies like Spotify, Google, and Qualtrics in labeling a wide range of text data, including Word documents, PDFs, and audio clips.
The company's mission has been to increase accessibility to NLP technologies and support NLP development in international languages for a global audience. Datasaur Dinamic now allows non-technical teams to build and develop their own proprietary NLP solutions.
Company: Datasaur Inc.
Raised: $4.0M
Round: Seed Round
Funding Month: August 2023
Lead Investors: Initialized Capital
Additional Investors: HNVR, Gold House Ventures, and TenOneTen
Company Website: https://datasaur.ai/
Software Category: Automated Data Labeling Solution
About the Company: Founded in 2019, Datasaur is an artificial intelligence company specializing in creating solutions for data labeling. It builds software to expedite the process of data labeling with features such as automated intelligence, workflow management, and data privacy. Headquartered in Silicon Valley, the company helps financial, legal, and healthcare companies turn raw unstructured data into valuable ML datasets. Additionally, Datasaur provides a workforce management platform and Conflict Review mode to help teams scale their efforts and identify errors in their training datasets. The platform employs state of the art techniques such as weak supervision and LLM-labeling to save customers of their time and costs.
Source: https://www.prnewswire.com/news-releases/datasaur-secures-4m-and-unveils-new-feature-dinamic-to-train-custom-natural-language-processing-models-301892086.html