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[Funding News] CA-based Twelve Labs Secures $50Million in Series A Round Funding

Twelve Labs, a video understanding company secures $50million in series A round funding. NVentures and New Enterprise Associates (NEA) led the financing. Prior backers such as Korea Investment Partners, WndrCo, Index Ventures, and Radical Ventures took part as well.

Twelve Labs, a video understanding company secures $50million in series A round funding. NVentures and New Enterprise Associates (NEA) led the financing. Prior backers such as Korea Investment Partners, WndrCo, Index Ventures, and Radical Ventures took part as well.

By the end of the year, the company hopes to have nearly doubled its headcount, added more than 50 personnel, and increased its R&D.

Twelve Labs, led by CEO Jae Lee, creates instantly comprehensible and intelligently searchable video. With the help of its video understanding technology, users may find important moments quickly and accurately among the thousands of videos that an organisation has to provide, allowing them to accomplish more and learn more.

Read also – [Funding News] NYC-based Thoughtly Secures $3Million in Seed Funding

The NVIDIA H100 Tensor Core GPU and NVIDIA L40S GPU, as well as inference frameworks like NVIDIA Triton Inference Server and NVIDIA TensorRT, have all been integrated by the company into its platform.

Twelve Labs has been able to create foundation models for multimodal video interpretation because to these technologies. In order to commercialise enabling frameworks and multimodal foundation models, it is also investigating product and research partnerships with NVIDIA.

In addition, Twelve Labs has released Marengo 2.6, a cutting-edge multimodal foundation model, concurrently with the open beta release of Pegasus v. newest, which redefines video-language modelling.

About Twelve Labs

Video can now be instantaneously, intelligently searched for and understood thanks to Twelve Labs. Modern video understanding technology from Twelve Labs makes it possible to precisely and quickly identify key moments among an organization’s enormous library of movies so that viewers may take action and learn more.

Leading venture capitalists, IT giants, experts in AI, and prosperous founders support the business. With an APAC office in Seoul, it has its headquarters in San Francisco.

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