Scale AI closes $1 billion primary and secondary Series F transaction
Accel led the May 2024 transaction at a $13.8 billion valuation.
Scale AI closed a $1 billion Series F transaction on 21 May 2024 at a valuation of $13.8 billion. The transaction combined newly issued shares and sales by existing shareholders; the company did not disclose the amount of new capital it received.
Accel led the financing. Returning participants included Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, NVIDIA, Tiger Global Management, Greenoaks and Wellington Management. New participants included Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, Meta and Qualcomm Ventures.
Scale supplies training data and evaluation services for AI models. The funding was intended to expand the production of complex frontier data and deepen model evaluation capabilities for enterprise and public sector customers.
Use of funds
Expand frontier AI data generation
Develop model evaluation capabilities