Total amount raised
$99.7 Millions
Latest funding date
11/1/2024
Location
Roboflow has successfully raised significant capital through multiple funding rounds, including a $40 million Series B round in November 2024 and a $37.5 million Series B round in August 2024. The company specializes in providing tools for building computer vision models, catering to developers and enterprises alike.
Keep reading to explore the intricacies of Roboflow's fundraising journey and the investors backing this innovative platform.
What Is Roboflow?
Roboflow, founded in 2019 by Brad Dwyer and Joseph Nelson, is based in Des Moines, Iowa. The company specializes in providing tools for building and deploying computer vision applications. With a team of 11-50 employees, Roboflow offers a comprehensive platform that includes data annotation, model training, and deployment solutions.
How Much Funding Has Roboflow Raised?
- Seed Round
- Amount Raised: $125,000
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to develop and refine Roboflow's computer vision tools and services.
- Grant
- Amount Raised: $15,000
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support early-stage development and operational costs.
- Seed Round
- Amount Raised: $2.1 million
- Date: January 2021
- Lead Investors: Craft Ventures, Lachy Groom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand product development and attract early users.
- Series A
- Amount Raised: $20 million
- Date: September 2021
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Continue democratizing computer vision technology and expand the team.
- Series B
- Amount Raised: $37.5 million
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance platform capabilities.
- Series B
- Amount Raised: $40 million
- Date: November 2024
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Accelerate growth and expand market reach.
Total Amount Raised: $99,740,000. Current Valuation: Not publicly disclosed.
Key Investors
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. It was founded in 2009 and has invested in over 300 companies.
- Investment Focus Areas: Life sciences, artificial intelligence, robotics, transportation.
- Notable Investments: Uber, Slack, Nest.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm founded by David Sacks and Bill Lee. The firm focuses on early-stage technology companies.
- Investment Focus Areas: SaaS, marketplaces, e-commerce, fintech.
- Notable Investments: Airbnb, Reddit, SpaceX.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has been described as one of the most successful in the world. It was founded in 2005 by Paul Graham, Jessica Livingston, Robert Tappan Morris, and Trevor Blackwell.
- Investment Focus Areas: Technology, healthcare, consumer products, education.
- Notable Investments: Dropbox, Airbnb, Stripe.
- Lachy Groom
- Details: Lachy Groom is an angel investor and former executive at Stripe. He has a keen interest in early-stage technology startups.
- Investment Focus Areas: Fintech, SaaS, marketplaces.
- Notable Investments: Not publicly disclosed.
- Jack Altman
- Details: Jack Altman is the co-founder and CEO of Lattice, a people management platform. He is also an active angel investor.
- Investment Focus Areas: HR tech, SaaS, enterprise software.
- Notable Investments: Not publicly disclosed.
What's Next for Roboflow?
Roboflow stands at the cusp of a significant opportunity in the burgeoning computer vision industry, which was valued at $11.32 billion in 2020. With over 50,000 developers and clients like Pfizer and Walmart, the platform is poised to democratize computer vision, making it accessible to all developers. The launch of "Roboflow Universe" further amplifies this potential by providing a community hub for sharing datasets and pre-trained models.
Future fundraising seems promising, given the successful Series A round and the growing demand for computer vision technology. As Roboflow continues to expand, additional funding rounds could support further product development and market reach. However, challenges such as competition from other companies and the need to continuously innovate will require strategic focus and robust execution.
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