Twelve Labs, a San Francisco, Calif.-based video search and understanding company, closed a $12m seed extension round.
This round, which brings total seed funding to $17m following their $5m seed round, was led by Radical Ventures, with participation from existing investors including early seed lead Index Ventures and new investors Jeffrey Katzenberg’s WndrCo and Spring Ventures, as well as notable angels Jay Simons (General Partner at Bond and former President of Atlassian), Nicolas Dessaigne (Founder and former CEO of Algolia), and Lukas Biewald (Founder and CEO of Weights & Biases).
The company intends to use the funds to add product features and conduct ongoing research, and to continue building out its commercial, multi-billion-parameter scale foundation model for video understanding.
Twelve Labs provides a cloud-native suite of APIs that enables comprehensive video search. The platform views and understands the content of a video, including both visual (action, movement, objects, text, etc.) and audio (non-verbal and conversational) context. It then transforms the video content into an intermediary data format (vectors), so that when a user types in a search query, the AI automatically outputs the most relevant scenes across hundreds of thousands of hours of video.
Since launching to a select group of users last spring, the company has secured closed beta customers that have built on top of its APIs across enterprise knowledge, content moderation, media analytics, contextual advertising, e-learning, and more.
FinSMEs
05/12/2022