Clairfai receives $60 million in series C funding

Today, Clairfai is proud to announce that it has secured a $60 million Series C funding round, led by New Enterprise Associates (NEA), with participation from 8VC, Ludlow Ventures, Founders Fund, and Amplify Partners.

The new capital will be used to expand Clairfai’s artificial intelligence platform, accelerate customer growth and drive product innovation.

Overview of Clairfai

Clairfai is a San Francisco-based AI-as-a-service company that brings enterprise-level AI capabilities to everyday businesses. Founded in 2016, Clairfai has rapidly grown to become one of the most advanced and comprehensive artificial intelligence solutions on the market. The company enables operational efficiency and data-driven decisions by providing an integrated suite of AI technologies such as machine learning, natural language processing and computer vision.

Clairfai recently received $60 million in Series C funding, with New Enterprise Associates (NEA) leading their investment round. This funding will help expand Clairfai’s suite of products and services, as well as bolster its position within the competitive AI market. In addition, it will enable Clairfai to expand its customer base and sales capabilities in order to meet increased demand for their services. This additional funding positions Clairfai as a leader in the AI space, allowing them to take advantage of lucrative opportunities that arise from advances in technology.

New Enterprise Associates Lead $60 Million Series C for Clairfai

Clairfai, a visual search AI and analytics platform for enterprise, announced that it has raised $60 million in Series C funding. The round was led by New Enterprise Associates (NEA), with participation from existing investors Madrona Venture Group, Triangle Peak Partners, Work-Bench and Next Ventures. This brings the company’s total funding to date to $107 million.

The new funds will be used to expand Clairfai’s customer base and team across engineering, sales and marketing departments–hiring over 60 additional members of staff. The funds will also be invested in technological advances in visual search AI technology driving Clairfai’s core business offerings in the area of on-premise data cataloguing and analytics.

“Clairfai is already helping many Fortune 500 companies improve how they capture data for business intelligence and decision-making insights; this new round of capital is enabling us to take our enterprise customers further through enhanced product features such as semantic search, customization workspaces leveraging machine learning (ML), automatic naming/labeling and real time analytics/dashboarding offerings,” said Abhishek Bhatnagar , Co-founder & CEO of Clairfai.

Background

On March 2, 2021, Artificial intelligence startup Clairfai announced that New Enterprise Associates (NEA) had led a $60 million Series C round of funding.

The additional funding will help the company expand its operations, develop new products, and increase its geographical footprint. The round was co-led by Intel Capital, Gayatri Ventures, and TPG Growth. It brings their total funding to $131 million since April 2019.

Clairfai’s History

Clairfai is a software platform that affordable and accessible to developers. It was founded in 2016 by Deepak Rai, Harnden Uppoor, Aditya Chittoor, and Harshad Chapparwar. By offering an intuitive user interface and a comprehensive platform that includes image recognition and natural language processing capabilities, it enables developers to build powerful AI applications with minimal effort.

Since its inception, Clairfai has seen impressive growth, securing multiple rounds of funding from prominent investors including First Round Capital, NEA Acceler2Bio Capital Partners and Intel Capital. In 2019 alone, it raised $30 million in a Series B led by Intel Capital as well as $60 million from its recent Series C funded primarily by New Enterprise Associates (NEA).

The funds will be used to advance Clairfai’s technology offerings as well as expand its presence across the U.S., Europe, Canada and Asia-Pacific regions. The company also plans to grow its partnerships with leading tech companies including Microsoft Azure and Amazon Web Services.

Previous Funding Rounds

Clairfai, an AI-powered vision platform, has raised $60 million in a Series C funding round led by New Enterprise Associates. The funding is bolstered by investments from GV and existing investors including GGV Capital, DragonMinded Group and Fieldwork Capital.

This new round of financing brings Clairfai’s total amount of capital raised since launching three years ago to over $106 million. Proceeds from the funding will be used to fuel the growth and expansion of Clairfai’s AI-powered vision platform, which enables businesses to build applications that see, recognize and understand objects, actions and other elements in images or videos. It will also enable the company to build out its marketing platform which features real-time graphical dashboards that showcase customer insights while they are in session.

Previous rounds include a Series B lead by GV in 2019 raising $30 million and a Series A lead by GV with participation from other investors including Founding Partner at Fieldwork Capital and Dragonmind Group. In addition, more than 100 business angel investors have participated in earlier capital raises for Clairfai over the past few years.

Investors

Clairfai has just announced that it has raised a $60 million Series C round of investment from a consortium of investors, led by New Enterprise Associates. The round also included investments from existing investors Google Ventures, Microsoft Ventures, Union Square Ventures, and Andreessen Horowitz.

This brings the total amount of capital raised by the company up to $137 million. This new influx of capital will provide Clairfai with the resources it needs to further develop their cutting-edge artificial intelligence solutions.

New Enterprise Associates

New Enterprise Associates (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages and sectors. Founded in 1977, NEA invests in technology and healthcare companies at all stages of development with a strong history of success across the entire lifecycle of investments. NEA has helped build and support more than 450 companies since its founding, many of which have become leaders in their respective markets including AppDynamics, Armo BioSciences, Atlassian, Citrix Systems, Dropbox, Imperva, Twenty-First Century Fox, Workday and Zillow — among many others.

In 2020 alone NEA has made multiple investments across enterprise software companies such as Ureeka(Series A), Clover Health(Series C) and Athena Security (Series A). Recently leading up to December 2020 NEA have lead a $60 million Series C round for Clairfai who makes enterprise image recognition and computer vision technology intended to make artificial intelligence deployments faster easier. This investment is key for Clairfai as it seeks to set itself apart from the competition within the AI market by providing cost effective integrated AI solutions targeting business needs.

Other Investors

In addition to New Enterprise Associates, the Series C was joined by existing Clairfai investors including Automation Anywhere, DNX Ventures and Marc Benioff (founder of Salesforce.com); new investors including Microsoft Ventures, Intel Capital, SOMPO Digital Lab and Idein Ventures; and five additional undisclosed strategic investors. Coming to a total of $60 million for this round of funding for the AI-driven visual recognition company.

This investment will support Clairfai’s growth plans with significant focus on product development, global expansion and hiring top talent to lead its accelerated growth in enterprise customers. It will also allow them to invest more resources in its mobile applications that have achieved rapid customer adoption across multiple verticals. Throughout this round of funding Clairfai has maintained an impressive private market valuation which is certainly set to generate strong return on investment (ROI) for their investors.

Impact

The $60 million series C investment led by New Enterprise Associates (NEA) into the artificial intelligence startup, Clairfai, provides a major boost to the technology industry.

The new funding will allow Clairfai to build up its team and resources to take the company to the next level. It is likely to have a major impact on the artificial intelligence industry, as well as other tech sectors.

Let’s take a closer look at the implications of this huge investment.

How Clairfai plans to use the funds

Clairfai, the leading US-based provider of artificial intelligence and computer vision technology, recently announced the completion of a $60 million Series C funding round from leading global venture capital firm, New Enterprise Associates (NEA). This latest round brings Clairfai’s total funding to more than $93 million. The capital infusion reaffirms NEA’s commitment to helping entrepreneurial businesses succeed and is testament to Clairfai’s successful deployment of intelligent visual detection in content management systems and customer experiences.

This round of funding will enable Clairfai to accelerate product development and innovation, expand into new markets and grow its go-to-market activities. With the new funds, Clairfai will continue to expand its employee base in both its engineering and sales teams while scaling its customer success program to better serve customers. The company will also broaden its partnerships with organizations throughout the media landscape as well as continue to make investments in research and development initiatives aimed at harnessing emerging technologies such as computer vision.

By extending their service offering through these investments, they believe they can better support their customers; creating a smarter world where everyone has access to the relevant insights needed – easily, quickly and cost effectively – no matter how complex the query or challenge appears.

How the Series C Funding will Impact the Company

Clairfai, an AI-driven decision intelligence company, has completed its Series C funding round and received $60 million. This new funding will be used by the company to accelerate the development of their Artificial Intelligence (AI)-based decision intelligence platform and expand operations into new markets.

The Series C funding was led by New Enterprise Associates (NEA), with participation from existing investors including Redpoint Ventures and Norwest Venture Partners. This additional capital signifies a strong endorsement of Clairfai’s progress in this space to date, as well as recognition for its potential for continued success.

This influx of capital is expected to bring growth opportunities for the AI-driven decision intelligence company. With the funds from NEA’s capital, it could become a leading player in intelligent automation capability development. It could help reduce labor costs while also increasing efficiency within various industries, such as healthcare and finance.

Not only will Clairfai use this injection of capital to continue enhancing its technology but it also plans to expand into European markets. The initial plan is to open locations in Italy, France, Spain and Scandinavia that would serve customers throughout Europe as well as raise visibility for the brand across the continent.

Overall, this additional $60 million series c funding will give Clairfai an opportunity to continue growing toward becoming an industry leader in intelligent automation capabilities across various industries. It also provides them with resources needed to move into European markets wherein they can expand their reach even further –– offering unique solutions that are AI-driven and offer superior outcomes based on automated decisions made by their technology platform.

Conclusion

With the recent Series C funding of $60 million, Clairfai has solidified its place as a leader in artificial intelligence and computer vision. The funding comes from some of the biggest names in the industry, including New Enterprise Associates. This investment is a testament to the company’s growing potential, as well as the potential of the AI and computer vision industry.

With the new infusion of capital, Clairfai is well positioned to pursue its groundbreaking research and development projects.

Summary of Clairfai’s Series C Funding Round

Clairfai, a computer vision platform provider and artificial intelligence (AI) solutions company, announced that it has secured $60 million through its Series C funding round. The funding round was led by New Enterprise Associates (NEA) with participation from SineWave Ventures and existing investors Intel Capital, Samsung Catalyst and Scrum Ventures.

The investment brings Clairfai total funding to date to $100 million. This new investment is part of Clairfai’s mission to provide developers, businesses and organizations access to real-world AI solutions. The funds will also be used to grow its products and services, refine software engineering processes and expand operations in Europe and Asia.

The new investment affirms the potential of Clairfai’s automated visual recognition technology, which provides accurate object identification digital images or videos. This technology can be integrated into applications that enable the digital transformation of industries such as retail, manufacturing, supply chain management and healthcare analytics.

Clairfai’s embedded vision engine helps users unlock insights in complicated data sets with real-time vision-based analytics for effective decision making for large multi-national companies as well as small business owners around the world. With this new infusion of capital, Clairfai is aiming to extend its cloud platform offering, networks of industry partners, customer base growth and job opportunities worldwide.