Twelve Labs, a San Francisco, CA-based video understanding company, raised $30M in funding.
Backers included Databricks, SK Telecom, and Snowflake Ventures, as well as HubSpot Ventures and In-Q-Tel.
The company intends to use the funds to accelerate development of key initiatives in addition to hiring.
Led by CEO Jae Lee, Twelve Labs develops video understanding technology that enables the accurate and timely discovery of moments within an organization’s vast sea of videos so that users can do and learn more. Its proprietary multimodal foundation models, Marengo and Pegasus, bring human-like understanding to videos, enabling precise semantic search, summarization, analysis, Q&A, and more. The news comes upon release of its latest video foundation model, Marengo 2.7, which applies an entirely new multi-vector approach to video understanding, yielding unprecedented results.
Upon the close of the latest round of funding, Twelve Labs has hired Yoon Kim as President and Chief Strategy Officer.
The company also has an APAC office in Seoul.
FinSMEs
12/12/2024