Six months after raising $7M (in seed funding), Paris-based data-centric AI training platform Kili Technology today announces it has raised $25M in Series A financing from London-based venture capital fund Balderton Capital and further commitment from initial investors, Serena Capital and Headline.
Kili Technology is the leading European data-centric AI training platform to iterate faster on the AI training and improvement cycle in order to boost AI applications. The solution is used by hundreds of AI-powered scale-up and data-science teams of large companies from various industries to address multiple AI use-cases.
Over the past six months, Kili Technology has exceeded targets, increasing dramatically its client’ portfolio in France and abroad (Europe, US and Asia), taking positions in all industries (bank and insurance, defense, manufacturing, retail, healthcare). This exponential growth reflects the development potential of Kili Technology in the booming AI market.
The new funds will be used to accelerate Kili’s growth through recruitment and tech investment, consolidate its leadership in the European AI market and accelerate international development in key AI markets such as the US and Asia.
“For the last 40 years AI related research has focused on model preparation, resulting in 0.1% or 0.01% increase of the model performance. Whereas focusing on data enables faster iterations to increase the model’s performance by many percentage points. As the AI expert Andrew Ng stresses “80% of machine learning work is spent on data preparation, thus ensuring data quality is the major task of AI teams”. Kili Technology solution enables all companies implementing AI to enter into this new paradigm” states François-Xavier Leduc, CEO and co-founder of Kili Technology.
“Managing and transforming unstructured data into training-ready data involves complex workflows and collaboration between business users and data teams. Kili‘s data infrastructure platform simplifies this by managing the entire data lifecycle, helping companies to save time and money. We were impressed by the combination of technical experience from Kili‘s team and their capacity to execute at a fast pace” says Bernard Liautaud, Managing Partner at Balderton Capital.