iMerit Leads off 2020 With New AI Innovation Initiatives and Funding

LOS GATOS, Calif., Feb. 18, 2020 (GLOBE NEWSWIRE) — via NetworkWire —  iMerit, a leading data annotation and enrichment company, is headed into 2020 with expansion plans, new innovation and new funding for its human-in-the-loop AI technology platform. The company has attracted $20 million in Series B funding led by CDC Group, the UK’s leading publicly-owned impact investor.  This investment, which also includes participation from existing investors, will be used to continue innovation for the company’s proprietary AI platform that delivers 100% quality control and over 98% accuracy.
The funding will also be used to expand its advanced workforce from 3,000 employees across the US, India and Bhutan to 10,000 global employees by 2023. It is the latest sign that iMerit’s high-quality data sets for artificial intelligence (AI) and machine learning are leading the industry and achieving the highest security certification. The company’s data annotation and enrichment specialists work across nine secure centers globally. They provide solutions across multiple markets including automotive, healthcare, e-commerce, finance, media and entertainment, and government. iMerit has been growing at over 100% for 3 years, has been cash positive for the last 2 years, and is continuing to differentiate from the rest of the market.Working with several of the leading global autonomous vehicle companies on image and video data to advance their product goals;Solving AI use case challenges spanning agriculture, wildlife conservation and risk management, via geospatial data;Working with leading medical technology companies to train advanced data models for diagnostic and treatment purposes as well as advancing cancer cell research;Empowering investment companies in their trading strategies through the use of enriched data on up to 3,500 funds per day.“CDC’s mission and iMerit’s journey align very well,” says DD Ganguly, President of iMerit USA. “Working with an organization, like CDC, that prioritizes an advanced, inclusive and gender-balanced workforce is perfect for iMerit. The collaboration will enable iMerit to continue to build a specialized, profitable, high growth business, with a customizable and agile technology platform, that will foster strong customer loyalty in a cutting-edge sector.”

About iMerit
iMerit’s Artificial Intelligence and Machine Learning platform powers advanced algorithms in Machine Learning, Computer Vision, Natural Language Understanding, e-Commerce, Augmented Reality and Data Analytics. It works on data for transformative technologies such as advancing cancer cell research, optimizing crop yields and training driverless cars to understand their environment. The company drives social and economic change by tapping into an under-resourced talent pool and creating digital inclusion. The team consists of 3000 full-time staff, with more than 50% being women. The company’s initial investors are Omidyar Network, Michael and Susan Dell Foundation, and Khosla Impact. For more information, visit: www.imerit.net.