Total amount raised
$2 Billions
Latest funding date
4/1/2021
Location
Hive has successfully raised over $120 million across multiple funding rounds, achieving a valuation of $2 billion as of its Series D round in April 2021. The company is backed by prominent investors including General Catalyst, 8VC, Glynn Capital, Bain & Company, Visa Ventures, Tomales Bay Capital, and Jericho Capital.
Keep reading to explore the intricacies of Hive's fundraising journey and the investors backing this innovative platform.
What Is Hive?
Founded in 2013, Hive is based in San Francisco, California. The company was established by Dmitriy Karpman and Kevin Guo.
Hive specializes in providing cloud-based AI solutions designed to understand, search, and generate content. Their technology serves billions of customer API requests monthly.
With a workforce of 251-500 employees, Hive continues to innovate in AI-driven content moderation, brand protection, and more.
How Much Funding Has Hive Raised?
- Seed Round
- Amount Raised: $2.1M
- Date: December 2014
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Hive's AI technology and establish its initial market presence.
- Series A
- Amount Raised: $18.1M
- Date: December 2016
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate the development of AI models for content moderation and other applications.
- Series B
- Amount Raised: $13.5M
- Date: August 2018
- Lead Investors: Tomales Bay Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Hive's AI capabilities and expand its customer base.
- Series C
- Amount Raised: $37M
- Date: January 2020
- Lead Investors: Tomales Bay Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and expansion of Hive's AI models and APIs.
- Series D
- Amount Raised: $50M
- Date: April 2021
- Lead Investors: Glynn Capital Management
- Valuation at Round: $2 billion
- Motivation Behind the Round: To expand Hive's AI solutions and support its growing customer base.
Total Amount Raised: $120.7M
Current Valuation: $2 billion
Key Investors
- Glynn Capital Management
- Details: Glynn Capital Management is a venture capital firm that invests in technology companies. They led Hive's Series D funding round.
- Investment Focus Areas: Cloud computing, machine learning, enterprise software.
- Notable Investments: Not publicly disclosed.
- Tomales Bay Capital
- Details: Tomales Bay Capital is a private investment firm focused on high-growth technology companies. They led Hive's Series B and Series C funding rounds.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Not publicly disclosed.
- 8VC
- Details: 8VC is a venture capital firm that provides early-stage and growth equity investments. They led Hive's Series A funding round.
- Investment Focus Areas: Healthcare, logistics, enterprise software.
- Notable Investments: Palantir, Wish, Asana.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in transformative companies across various sectors. They participated in multiple funding rounds for Hive.
- Investment Focus Areas: Consumer, enterprise, healthcare.
- Notable Investments: Airbnb, Stripe, Snap.
- Jericho Capital
- Details: Jericho Capital is a hedge fund that invests in technology, media, and telecommunications. They participated in Hive's Series D funding round.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Not publicly disclosed.
What's Next for Hive?
Hive's future is brimming with opportunities. The company plans to expand its AI capabilities, particularly in language processing and GDPR-friendly advertising. With a valuation of $2 billion and a rapidly growing customer base, the potential for further growth is immense. The increasing demand for cloud-based machine learning solutions and content moderation tools positions Hive well for future success.
However, challenges lie ahead. Competition from other AI startups and in-house tools developed by tech giants could pose significant hurdles. Ensuring the accuracy and reliability of their AI models, while navigating regulatory and privacy concerns, will be crucial. Despite these challenges, Hive's innovative approach and strategic partnerships suggest a promising path forward.
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