Crowdfunded data enrichment platform CrowdFlower, scooped up $12.5 million in Series C financing earlier this week. The round was led by Canvas Venture Fund and saw participation from existing investors Bessemer Venture Partners and Trinity Ventures, bringing the total amount raised by the company to $28 million.
Rebecca Lynn, the General Partner of Canvas explains their investment, “Having worked at P&G where every product and brand strategy is based on exhaustive analysis of data, I naturally gravitated to CrowdFlower’s vision to help companies realize the real potential of Big Data.”
“CrowdFlower’s platform takes the pain out of managing an on-demand workforce to deliver accurate and fast results so that organizations can base their important business decisions on data they can trust,” she added.
Founded in 2009, CrowdFlower essentially assists data scientists through its data enrichment platform. CrowdFlower’s five million on-demand contributors assist by helping enterprises in maintenance, organisation and cleaning up of the data, delivering up to “seven years of work in a single day”.
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Their clientele includes the likes of eBay, Edelman, EventBrite, The Home Depot, VMWare and Venuelabs, to name a few, which utilize CrowdFlower to address a spectrum of projects like search relevance tuning, data categorization, image annotation, content moderation, sentiment analysis, metadata creation and real-time transcription.
The financing will help with the fierce growth the company is faced with. A separate statement on the same day CrowdFlower revealed its intention to free data scientists from cleaning incomplete, messy data. More information can be found here.
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(Image Credit: Nick Ares)