Scale AI Raises $1B in Series F, Valuation Nears $14B

May 21, 2024, 11:10 AM

Scale AI, a data-labeling startup, has raised $1 billion in a Series F funding round, doubling its valuation to $13.8 billion. The funding round was led by Accel and included investments from Amazon, Meta, Nvidia, Intel, AMD, and ServiceNow. Scale AI's annual recurring revenue (ARR) tripled last year and is expected to reach $1.4 billion by the end of 2024. The company had approximately $700 million in revenue in 2023 and expects to be profitable by the end of this year. The valuation increased from $7.3 billion in April 2021 to nearly $14 billion.