TwelveLabs Secures $100 Million in Series Funding Round
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San Francisco-based company TwelveLabs announced it has received $100 million in Series B Funding. The firm aims to make AI watch and understand videos almost like a human. Instead of only recognizing objects, they want their AI to understand what is happening in the video, listen to sounds and speech, read text, learn people, actions, places, and events.
A Series B funding round is money that investors offer to a startup after it has already shown that its business works. The companies usually use this money to grow faster, build better products, and hire more employees.
Earlier, TwelveLabs built AI models that could understand videos. But now they want to develop something big like aFull-Stack Agentic Intelligence Systemfor Video. It is a kind of system that will do everything, instead of only recognizing objects.
The company wants to combine AI with three new things: perception, knowledge, and reasoning. There are huge collections of videos around the world. Most of these videos are difficult to search. The AI can make these videos searchable and useful, which helps businesses to analyze them, use the information, and even make money from old content.
Additionally, TwelveLabs recently released three important products, including Marengo 3.0, Pegasus 1.5, and Rodeo. The company already has strong customer adoption in the media and entertainment industry. Now they are also expanding into the public sector, which means government organizations and public institutions.
However, the demand is growing in advertising, security, sports, and the automotive industry because these industries work with large volumes of video. The funding was co-led by NEA (New Enterprise Associates) and NAVER Ventures, including other big investors as well.
Earlier, Qualcomm announced it has developed over 40 new AI-powered wearable devices to change how we interact with technology by enabling users to speak directly to AI assistants.
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