AI.Reverie Grows Business by Over 3X in 2020 as Demand Spikes for Synthetic Data to Train Vision Algorithms
Synthetic Data Becomes a Must Have for Efficiency-Conscious Enterprises and Government Agencies
NEW YORK, Feb. 3, 2021 /PRNewswire-PRWeb/ -- AI.Reverie, the leader in synthetic data for improved artificial intelligence, today announced a 3X growth in business during 2020. The company attributes the uptick to stronger than expected global demand for perpetual access to the synthetic data and computer vision solutions AI.Reverie offers.
According to founder and CEO Daeil Kim, "The pandemic put tremendous pressure on global enterprises to work more creatively in 2020. This was particularly the case for data procurement, a critical function for modern organizations. AI.Reverie's ability to help companies and government agencies create photorealistic visual data rather than capturing it on the ground has been a clear advantage. Synthetic data is also more ethical and expedient — eliminating biases and labor challenges."
By every measure, 2020 was a banner year for AI.Reverie. The company expanded its offerings into the Retail and Agriculture markets. It also won a $1.5M AFWERX Phase 2 SBIR contract and was named a vendor on the United States Air Force's $3.3B, five-year Advance Battle Management System (ABMS) program. AI.Reverie also successfully completed a $5.6M round of equity financing led by Vulcan and released the largest open dataset of real and synthetic overhead imagery, Rareplanes, with the In-Q-Tel lab CosmiQ Works.
AI.Reverie was recognized by Gartner as a "Cool Vendor" in AI Core Technologies and by Forbes as a "Top 25 Machine Learning Start-up," among other honors.
About AI.Reverie
The AI.Reverie synthetic data platform creates a virtually endless supply of annotated images and videos to accelerate computer vision and machine learning by lowering the cost of training while improving the quality, diversity, and accuracy of metadata.
Media Contact
Perrin Lawrence, AI.Reverie, +1 (512)970-8310, [email protected]
Lana McGilvray, Purpose Worldwide, (512)970-8310, [email protected]
SOURCE AI.Reverie
Share this article