Fueled by the recent close of a $40 million funding round and with a quarter of its customers based in Europe, Labelbox builds a world-class AI team in first office in Europe
SAN FRANCISCO, Aug. 09, 2021 (GLOBE NEWSWIRE) — Labelbox, the leading training data platform for enterprise machine learning applications, today announced the opening of its new European office in London and will be building a comprehensive local team to better serve customers on the continent.
“For customers who want to get to production artificial intelligence solutions faster, Labelbox makes it easy to create and manage your training data, people, and processes in a single place,” said Manu Sharma, CEO and co-founder. “We’re seeing exceptional growth in Europe – more than a quarter of our business. The innovation cycles in Europe are leading the world in many industries and we’re excited to be involved and now have a specialist team in Europe closer to those customers to help them be successful faster.”
Labelbox has customers in more than a dozen countries in Europe:
- Ireland-based Cainthus uses computer vision to monitor livestock herds around the clock alerting farmers to changing conditions so they can feed more cattle more efficiently.
- U.K.-based Winnow Solutions uses computer vision and AI to track and analyze food waste in industrial kitchens. Its customer IKEA slashed food waste 45% in just three months, and the company estimates its solution has reduced customer CO2 emissions by more than 60,000 tons to date.
- Netherlands-based Xarvio Digital Farming Solutions uses smartphone, drone and satellite imagery to build AI-powered products that advise farmers on how to maximize productivity.
Other customers in Europe include ArcelorMittal, BASF, Bayer, Bosch Siemens, Criteo, Faurecia, Husqvarna and ICEYE.
To lead the company’s ambitious growth across the region, Teon Rosandic, has been appointed as Vice President for EMEA. Rosandic brings extensive enterprise software executive experience in Europe, and has held senior leadership roles at BMC, Genesys, Talkdesk and xMatters.
“The data labeling marketing today is already a $4 billion annual industry but the upside for this nascent market is orders of magnitude larger,” Rosandic said. “Labelbox has a remarkably broad roster of Global 2000 enterprise customers, deploying our AI platform across many different applications and use cases. I believe Labelbox is perfectly positioned to grab a significant share of this exploding market opportunity.”
With algorithms available for free and computing resources increasingly commoditized, high-quality labeled training data is the most valuable asset for enterprises adopting supervised learning solutions. To build real-world applications, machine learning teams need robust infrastructure that is able to import raw data into labeling workflows, allowing enterprises to manage widely distributed annotation teams, monitor quality, adjust for bias, and export high-quality labeled training data to machine-learning models.
Labelbox functions like a command center for enterprise data. It automates the process with a pre-labeling web-based platform so that enterprises can connect and collaborate easily across databases, BPOs and labeling services regardless of time zone or geography. Labelbox customers report accelerating iteration cycles by up to 800 percent using the platform and cutting development time in half in pushing new models into production.
Labelbox is currently being used by industries as diverse as aerospace, agriculture, automotive, insurance, healthcare, media, military intelligence, travel and more with hundreds of customers that include Airbnb, Arcelor Mital, BASF, Bayer, Black & Decker, Bristol Myers Squibb, Genentech and Warner Brothers.
Founded in 2018 and based in San Francisco, Labelbox is the world’s leading training data platform for machine learning applications. Labelbox created the world’s first collaborative training data platform that acts as a command center for data science teams to interface with dispersed annotation teams. Better ways to input and manage data leads to higher quality training data, more accurate machine-learning models and faster iterations to improve the algorithms that drive business growth. Labelbox has raised $79 million in capital from leading venture capital firms in Silicon Valley, including Andreessen Horowitz, B Capital Group, Gradient (Google’s AI venture firm), Kleiner Perkins and more. For more information, visit: https://www.Labelbox.com/
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