iMerit, a leading data annotation and enrichment company, is headed into 2020 with expansion plans, new innovation and new funding for its human-in-the-loop AI technology platform. According to the update, the company has attracted $20 million in Series B funding led by CDC Group, the UK’s leading publicly-owned impact investor. The company will use this investment, which also includes existing investor participation, to continue innovation for its proprietary AI platform that delivers 100% quality control and over 98% accuracy. iMerit will also use the funding to expand its advanced workforce from 3,000 employees across the U.S., India and Bhutan to 10,000 global employees by 2023. “This investment validates our belief that the growth in artificial intelligence and machine learning is best serviced by a full-time, specialist workforce that continuously learns and grows with the technology, and CDC Group shares this belief,” iMerit CEO and founder Radha R. Basu said in the news release. “This new funding will enable iMerit to continue to provide enterprise-scale and quality to a large client base in a fast-growing and evolving market.”
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About iMerit
iMerit’s Artificial Intelligence and Machine Learning platform powers advanced algorithms in Machine Learning, Computer Vision, Natural Language Understanding, e-Commerce, Augmented Reality and Data Analytics. It works on data for transformative technologies such as advancing cancer cell research, optimizing crop yields and training driverless cars to understand their environment. The company drives social and economic change by tapping into an under-resourced talent pool and creating digital inclusion. The team consists of 3000 full-time staff, with more than 50% being women. The company’s initial investors are Omidyar Network, Michael and Susan Dell Foundation, and Khosla Impact. For more information, visit: www.iMerit.net.
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