Activeloop Raises $11 Million in Series A Funding for Database AI Technology

Activeloop, a database AI company based in Mountain View, California, has recently secured $11 million in Series A funding from top investors including Streamlined Ventures, Y Combinator, Samsung Next, Alumni Ventures, and Dispersion Capital. This latest round of funding brings Activeloop’s total funding to approximately $20 million.

The company’s flagship product, Deep Lake, is a revolutionary platform that connects unstructured data such as audio, video, images, text, and embeddings to machine learning models. This advanced storage and retrieval system is popular among Fortune 500 companies in regulated sectors like biopharma, MedTech, legal, and automotive. Companies like Bayer Radiology and Matterport are already leveraging Activeloop’s technology to train and fine-tune large language and deep learning models, as well as store and search vast amounts of data.

According to Davit Buniatyan, CEO of Activeloop, Deep Lake is like a “magic box” for enterprises, enabling them to organize complex data efficiently and retrieve it for AI applications. The platform has been shown to boost AI engineering teams’ productivity by up to 5x and reduce costs by up to 75% compared to other market offerings.

Steffen Vogler, Principal Imaging Technology Scientist at Bayer Radiology, praised Deep Lake for its natural human-machine interface and high-accuracy results. The platform has been proven to improve knowledge retrieval accuracy with large language models (LLMs) by an average of 22.5%.

Activeloop’s AI-native embedded architecture ensures easy on-premise setup and meets top security standards like SOC-2 Type II, making it a preferred choice for enterprises looking to manage their private data for AI applications without exposing it to external parties.

With the new funding, Activeloop plans to onboard more enterprise customers, expand its engineering team, and continue developing innovative solutions for organizing and retrieving complex unstructured data with AI. Investors like Ullas Naik from Streamlined Ventures are excited about the company’s vision and track record, expressing confidence in Activeloop’s ability to execute and deliver value to customers.