NEW YORK — AI.Reverie, a computer vision company that generates synthetic data to train algorithms, has completed a $5.6 million equity round of financing. Vulcan Capital led the round, and other institutional investors included Compound, In-Q-Tel, Resolute Ventures, SGInnovate, TechNexus and Triphammer Ventures. The investment brings AI.Reverie’s financing since launch to over $10 million and will fuel revenue growth through talent and product expansion.
Vulcan Capital is the private investment arm of Vulcan Inc., founded by the late Paul Allen — co-founder of Microsoft and owner of the Seattle Seahawks and Portland Trailblazers. YB Choi of Vulcan Capital is joining AI.Reverie’s Board of Directors.
AI.Reverie says it rapidly grew its client roster over the past year across government agencies and Fortune 500 clients. The company’s platform propelled projects in Defense, Retail, Smart Cities, Industrials and Agriculture including airport simulation, weapons detection, cashier-less shopping and delivery bots.
“We have now seen our technology solve the real challenges of a broad client base,” said Daeil Kim, co-founder and CEO. “Our platform is fine-tuned and ready to grow.”
The AI.Reverie synthetic data platform creates a virtually endless supply of annotated images and videos to accelerate computer vision and machine learning by lowering the cost of training while improving the quality, diversity, and accuracy of metadata.
Synthetic data resolves two crucial roadblocks to growth and adoption of machine learning in computer vision: data diversity and labeling. Training algorithms to see requires a great variety of images and video footage in which subject matter is meticulously labeled — but traditional, manual labeling typically imposes significant cost and production time.
AI.Reverie provides another option: it leverages gaming technology and machine learning techniques to procedurally generate a diverse range of labeled images and videos at scale.
“Data is the driving force of value for computer vision, which is now mission critical to many major industries, and synthetic data holds the potential to transform the way computer vision algorithms are trained,” said YB Choi, partner at Vulcan Capital and incoming board member of AI.Reverie. “We look for companies that can bring disruptive technologies to extremely large markets and have seen AI.Reverie create a more efficient and effective source of data. This company has captured the lead in a potentially explosive new field.”
