DefinedCrowd Raises $11.8M to Make Artificial Intelligence Smarter - Startup 365

SEATTLE, July 31, 2018 (GLOBE NEWSWIRE) -- DefinedCrowd Corp., a smart data company for AI, announced the closing of a $11.8M Series A funding round today. Led by New-York/Zurich based Evolution Equity Partners, the round brought in Kibo Ventures, Mastercard and EDP (Energias de Portugal) as new investors, and secured additional capital from current investors Sony, Portugal Ventures, Amazon Alexa Fund, and Busy Angels. "DefinedCrowd's SaaS platform has very quickly positioned the company as an innovative leader to solve AI/ML's global most pressing problem, the need for continuous access to highly accurate data. Evolution Equity Partners is honored to lead this growth-targeted Series A round that comes at an inflection point for DefinedCrowd to manage its triple digit revenue growth trajectory and customer on-boarding globally," says Dennis Smith, Founder and Managing Partner at Evolution Equity Partners and the newest member of DefinedCrowd's Board of Directors. The capital secured in this Series A round will be used to develop DefinedCrowd's product offerings, expand the team, and rapidly increase market-share globally.