By VC News Daily
SAN FRANCISCO, CA, Twelve Labs, the video understanding company, today announced that it raised $50 million in Series A funding.
Twelve Labs today announced that it raised $50 million in Series A funding to fuel the ongoing development of its industry-leading foundation models dedicated to all aspects of video. The round was co-led by new investor New Enterprise Associates (NEA) and NVentures, NVIDIA’s venture capital arm, which recently participated in Twelve Labs’ strategic round. Previous investors, including Index Ventures, Radical Ventures, WndrCo, and Korea Investment Partners also joined the round. In addition to R&D, funds will be used to nearly double headcount. Twelve Labs plans to add more than 50 employees by the end of the year.
Twelve Labs makes video instantly, intelligently searchable and understandable. Twelve Labs’ state-of-the-art video understanding technology enables the accurate and timely discovery of valuable moments within an organization’s vast sea of videos so that users can do and learn more.
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