Hive has successfully raised $120.2 million over four funding rounds, achieving a valuation of $2 billion. The platform offers cloud-based AI solutions designed to understand, search, and generate content.
Keep reading to explore the intricacies of Hive's fundraising journey and the investors backing this innovative platform.
What Is Hive?
Founded by Dmitriy Karpman and Kevin Guo, Hive is based in San Francisco and specializes in cloud-based AI solutions for content understanding, search, and generation. The company, established in 2017, has grown rapidly and now employs between 201 and 500 people.
Hive's technology is trusted by numerous large organizations, offering pre-trained AI models and turnkey software for various business applications. Their solutions include content moderation, brand protection, and ad targeting.
With a distributed workforce of over 5 million global contributors, Hive continues to innovate and expand its AI capabilities, making significant strides in the tech industry.
How Much Funding Has Hive Raised?
- Series D
- Amount Raised: $85,000,000
- Date: April 2021
- Valuation at Round: $2B
- Motivation Behind the Round: To help moderate content, identify objects, and more through AI-based APIs.
- Series C
- Amount Raised: $35,000,000
- Date: 2020
- Lead Investors: Tomales Bay Capital
- Motivation Behind the Round: To support the development of their AI models and expand their customer base and use cases.
- Series B
- Amount Raised: $15,000,000
- Date: August 2018
- Motivation Behind the Round: To accelerate growth and expand AI capabilities.
- Series A
- Amount Raised: $18,100,000
- Date: December 2016
- Lead Investors: 8VC, Eniac Ventures, Founders Fund, rocketship.vc, General Catalyst
- Motivation Behind the Round: To develop and scale their AI technology.
- Seed
- Amount Raised: $2,100,000
- Date: December 2014
- Lead Investors: General Catalyst
- Motivation Behind the Round: To kickstart the company and build initial AI models.
Hive has raised a total of $120.2 million and is currently valued at $2 billion.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong track record of supporting innovative technology startups.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- 8VC
- Details: 8VC is a venture capital firm focused on building and investing in transformative technology companies. They aim to create long-term value through strategic investments.
- Investment Focus Areas: Technology, healthcare, logistics.
- Notable Investments: Palantir, Wish, Asana.
- Tomales Bay Capital
- Details: Tomales Bay Capital is a private investment firm that led Hive's Series C round. They focus on growth-stage companies with significant potential.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: Specific notable investments are not listed.
- Glynn Capital
- Details: Glynn Capital is a firm that invests in private and public technology growth companies. They led Hive's Series D round.
- Investment Focus Areas: Technology, cloud-based solutions, machine learning.
- Notable Investments: Facebook, LinkedIn, Twitter.
- Jericho Capital
- Details: Jericho Capital is a technology-focused investment firm. They participated in Hive's Series D round.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: Specific notable investments are not listed.
What's Next for Hive?
Hive's future looks promising as it continues to leverage its AI models to automate tasks in content moderation, object identification, and text recognition. With a 300% growth rate and a client list that includes major companies like Reddit and Walmart, the opportunities for Hive are vast. The company is also exploring GDPR-friendly advertising approaches, which could open new revenue streams.
Future fundraising efforts may focus on expanding Hive's language capabilities and developing new AI applications. However, the company will need to navigate challenges such as competition from other tech firms and regulatory hurdles related to data privacy and AI ethics. As the demand for AI-based content moderation tools grows, Hive is well-positioned to capitalize on these industry trends.
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