Machine learning innovator Deci has announced it recently secured $21 million in Series A funding, a move designed to expand the platform’s capabilities and give AI developers even more control over their strategies. The round, which was led by Insight Partners with additional participation from Square Peg, Emerge, Jibe Ventures, Samsung Next, Vintage Investment Partners, and Fort Ross Ventures comes on the heels of the deep learning model’s $9 million seed funding round one year ago.
Long development cycles and high computing costs are common obstacles that stand in the way of AI product development. Deci’s revolutionary deep learning platform provides its users with an end-to-end solution designed for creating, optimizing, and producing machine learning models that upgrade AI strategies.
“Amidst an increase in the adoption of deep learning models, shortening time to market and increasing the success rate in production is becoming critical as more and more enterprises look to commercialize their deep learning-based solutions. Deci’s end-to-end deep learning development platform has a proven track record of empowering the world’s leading AI teams with the tools they need to create, optimize and successfully deploy innovative AI solutions,” said Yonatan Geifman, CEO and co-founder of Deci. “This funding is a vote of confidence in our work to empower enterprises to make deep learning breakthroughs into an every-day reality and we are delighted to be leveraging the support and experience of Insight Partners, as well as our other outstanding investors, on this journey.”
Recognized by Gartner as a Tech Innovator for Edge AI and by Wired on its hottest startups of 2021 list, Deci is quickly making a name for itself as a machine learning and AI innovator. Since the company was founded in 2019, its tools have helped partners like AWS, Nvidia, Intel, and HP accelerate their AI production and development. The real-time deep learning models help users reduce their production costs and maximize their data usage.
The machine learning models empower developers and product promotion teams to optimize AI for both cloud and mobile performance boosts. Using existing data and hardware, the platform helps users quickly employ AI strategies to help streamline product releases and communications between teams and customers.
With the new funding, Deci plans to focus on expanding its global footprint with product development and promotion campaigns.
“Deci is at the forefront of AI and deep learning acceleration, with highly differentiated technology that lets customers optimize blazingly fast deep learning models for inference tuned to any hardware platform,” said Lonne Jaffe, managing director at Insight Partners, in a statement. “We are delighted to be part of Deci’s ScaleUp journey and look forward to supporting the company’s rapid growth.”