Cambridge-based FinTech Unitary AI has announced a substantial Series A funding round, amounting to $15m.
The round was led by prominent European venture capital firm Creandum, with the participation of other notable investors, including Paladin Capital Group and Plural. This funding comes at a pivotal moment for Unitary AI, as the company experiences notable growth in its operations.
Over the course of this year, Unitary AI has seen a significant increase in its video classification capabilities, rising from 2 million to an impressive 6 million videos per day, covering billions of images. Furthermore, the company is expanding its language support beyond English. While specific customer names are undisclosed, Unitary AI has reported that its annual recurring revenue (ARR) now stands in the millions.
Unitary AI’s primary mission revolves around redefining content moderation through a multimodal approach. In today’s digital landscape, the volume of content, particularly videos, is staggering. Platforms like YouTube, Facebook, Reddit, TikTok, and more, along with dating sites, gaming platforms, and videoconferencing tools, collectively contribute to over 80% of all online traffic. The challenge of moderating such vast amounts of data is daunting and necessitates advanced technology-driven solutions.
While the field of content moderation has witnessed the emergence of numerous startups harnessing artificial intelligence, the uniqueness of Unitary AI lies in its “multimodal” models. Unlike traditional tools that focus on individual data types such as text, audio, or images, Unitary AI combines these elements simultaneously to provide a comprehensive understanding of video content.
Unitary AI’s vision aligns with the growing interest in multimodal research in AI. Companies like Meta have also highlighted the significance of multimodal AI in their recent announcements. Unitary AI stands at the intersection of pioneering research and practical applications, aiming to lead the way in content safety.
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