Sama Raises $70M to Develop AI Training Data Platform

The Evolving Landscape of AI Data Management

Currently, solutions designed for managing artificial intelligence data remain largely disjointed. These tools typically address singular challenges for developers, rather than providing comprehensive support throughout the entire data lifecycle.

Sama, a company specializing in the provision of high-quality training data essential for AI technology applications, is poised to change this. CEO Wendy Gonzalez stated that the company is actively developing what they believe will be the first complete, end-to-end platform for AI training data, leveraging the power of machine learning.

Securing Funding for Innovation

To facilitate this ambitious undertaking, Sama successfully secured $70 million in Series B financing. This funding round was oversubscribed and led by Caisse de dépôt et placement du Québec (CDPQ), with significant participation from First Ascent Ventures, Salesforce Ventures, Vistara Growth, and all pre-existing investors.

This new capital injection follows a $14.8 million Series A round raised two years prior. At that time, Sama’s core focus was on the development of highly accurate training data and the creation of tools to facilitate data annotation, as Gonzalez explained.

The team subsequently investigated methods for integrating machine learning into this process while upholding stringent accuracy standards. Their approach centered on human-in-the-loop systems, culminating in the Thursday launch of Sama Machine Learning Assisted Annotation MicroModels, offering one-click validation with human oversight.

Addressing Fragmentation in the AI Lifecycle

“Our ongoing research revealed a consistent need for data at every phase of the AI lifecycle,” Gonzalez noted. “However, the process was severely fragmented, often requiring data transformation eight or nine times with different partners.”

The pursuit of Series B funding was strategically aligned with Sama’s goal of creating an end-to-end platform. This platform would offer a streamlined pathway for acquiring data, ensuring high-accuracy annotation, and seamlessly integrating that data into AI models. Achieving this vision necessitated substantial financial resources, according to Gonzalez.

A Mission-Aligned Partnership

The Sama team established a strong rapport with CDPQ through its network in Montreal, recognizing a shared commitment to their mission and Environmental, Social, and Governance (ESG) principles.

Gonzalez highlighted Sama’s unique position as the sole certified B Corp within the AI infrastructure sector, emphasizing their dedication to alleviating poverty. The company has already positively impacted 56,000 individuals by employing experts from East Africa as data labelers, with women comprising 50% of the workforce.

“CDPQ demonstrated a genuine interest in both the problem we are solving with AI and the ethical manner in which we are addressing it,” she added. “Data infrastructure is fundamental to the advancement of AI, presenting a significant opportunity for growth. Furthermore, we aspire to become the largest, or one of the largest, B Corporations driving innovation in technology, while also redefining corporate perceptions of social responsibility. Diverse businesses are demonstrably more successful – it’s an ambitious, yet vital, objective.”

CDPQ’s Investment Philosophy

Wils Theagene, Senior Director at CDPQ in Quebec, stated that the firm is Canada’s second-largest pension fund, managing assets totaling CA$390 billion.

The firm’s $250 million Equity 253 fund was inspired by the events of 2020, following the death of George Floyd, and actively encourages companies to leverage diversity as a catalyst for growth. Investment companies are given a five-year timeframe to achieve 25% diversity across their boards, management teams, and equity ownership.

Theagene explained that, mirroring Sama’s attraction to CDPQ’s ESG mission, the firm was equally impressed by Sama’s commitment to progress, performance, and social impact.

He further noted that “the management team is among the most impressive we have encountered, and we were particularly impressed by Wendy.” When the Sama team detailed their performance and industry insights, CDPQ recognized their model for economic development in underserved regions as the optimal approach: empowering individuals through employment rather than relying on financial assistance, Theagene elaborated.

Looking Ahead

“We firmly believe Sama is the current market leader in AI and will continue to shape the future of the industry,” he stated. “Their innovative micromodels enable efficient AI data processing, and their end-to-end platform effectively addresses the data requirements of AI applications.”

Sama currently collaborates with prominent companies such as Google, Walmart, and Nvidia, and intends to strategically manage its expansion. Since Gonzalez joined the company six years ago, Sama has experienced a 13-fold increase in monthly recurring revenue.

Future initiatives will focus on accelerating coverage of the AI data pipeline, expanding into new markets like Europe and, eventually, the Asia Pacific region, and bolstering operational capabilities.

Gonzalez anticipates that a primary focus for the future of AI data will be mitigating bias to ensure more representative datasets.

“Drawing parallels with the European Union’s emphasis on ethics in AI, it is likely that the U.S. will adopt similar data protection guidelines, promoting transparency and purpose in AI design,” she added. “Our goal is to build a platform developed by a diverse population, enabling the collection and labeling of data that reflects that same diversity.”