As investors, the success of our portfolio companies is as important as our own achievements, and therefore we are very glad to announce that DefinedCrowd raised a US$50.5M in record-breaking Series B round. The team led by Daniela Braga made great advancements since their last round, in July 2018, which we also took part. This new round makes us especially proud since it is the largest ever Series B round raised by a female-founded AI company in the US.
If you are still not familiar with this company, DefinedCrowd is a startup that developed a platform with multiple data delivery options that leverages machine learning technology and human intelligence to deliver quality-guaranteed training data for artificial intelligence (AI) systems. The platform offers self-service and fully customizable solutions that deliver high-quality project-specific training data, enabling AI products to reach the market quicker. When you hear “data is the new oil,” think of DefinedCrowd as one of the main companies leading the industry.
Daniela Braga’s startup has been part of Bynd Venture Capital’s portfolio for four years now. Even then, she showed great ambition to do what has never been done before and the ability to gather a multidisciplinary team, composed of some of the most talented people in different fields.
Francisco Ferreira Pinto, partner at Bynd Venture Capital, explains that “DefinedCrowd has been having an exceptional performance through all these years, due to their extremely qualified team and to their founder’s drive. They have consistently beat their already ambitious objectives and continue to grow at an incredible pace. As early investors, we are very excited to be part of this new phase.” The potential of this market was also a relevant factor taken into consideration: “the size of the market is huge and it’s still in an relatively early stage with a high growth potential, it’s a great market to be at” he adds.
As a successful case, Francisco Ferreira Pinto highlights their “persistence, resilience and will to achieve new landmarks, but also their ability to build long term relationships with their stakeholders –clients, employees and also investors.” Their success goes beyond their technology.
“Bynd Venture Capital has been with us since the beginning. They were — and still are — key to our financial navigation, and a crucial support to our fast growth and success. I cannot stress enough how important it is to pick the right investors to our company — and Bynd shows exactly that. The support and confidence that they gave me in the last few years have been vital,” says Daniela Braga, founder and CEO of DefinedCrowd.
With this investment, DefinedCrowd plans to expand its existing solutions, launch new innovative subscription-based offerings, and expand its global reach, and also double the team to open more R&D offices around the world by the end of 2020.