Hugging Face, which is building an open source library for natural language processing technologies, raises $40M Series B led by Addition (Romain Dillet/TechCrunch)
Hugging Face 40M Additiondillettechcrunch
Hugging Face raises $40M Series B led by Addition
In this article we will discous about face 40m additiondillettechcrunch. Hugging Face is an open source provider of deep learning-based natural language processing (NLP) technologies. It hosts thousands of pre-trained models, and provides a community for developers to share their work. This allows more businesses to adopt conversational AI technology. Its library has been used by Apple, Bing, Monzo, and many others. It has over 10k forks on GitHub, and over 42,000 stars. It also has an API that lets users access their models via a programming interface.
Hugging Face started as a chatbot company, but has transformed into a full-service provider of NLP technology. Today, it hosts over 10,000 models and datasets, and is one of the fastest-growing open source projects on GitHub. The company is valued at over $2 billion. And it recently launched an online space for its community members, called Spaces. This new space features git-based workflows and control versioning, and allows members to build applications for their users.
Hugging Face started out as a chatbot company, and was run by a handful of NLP-heads. They made massive leaps in the underlying tech, including using Pytorch as the language representation model, instead of BERT. And they were able to build a chatbot that generated over 100,000 DAU. But even with this success, the company’s growth didn’t correlate with the amount of DAU. And, as a result, the company had to start raising money. So it raised $15 million in Series A funding a little over a year ago.
In December 2019, the company raised another round of funding. This time, it was a Series B funding round, led by Addition and Lux Capital, as well as a_capital, Betaworks, A.Capital, Coatue, Datadog CEO Olivier Pomel, and others.
This latest round brings the total amount of funds raised to $60 million, with most of the money going to the company’s development team. The company now has around 140 employees, and has offices in New York and Paris. Its current roster of customers includes eBay, Intel, Pfizer, Roche, and more. It has about 10,000 datasets and over 100k machine-learning models available for use. The company plans to grow its workforce with the fresh funding, and will hire additional AEs, Enterprise Sales, and a BDR, among other positions.
Hugging Face has already launched a paid inference service, allowing developers to access the models hosted by the company. It currently has a revenue of $10 million in the bank. Its goal is to become the GitHub of machine learning. It’s building on its success in the NLP space by providing a community for developers and a hub for datasets and models.
Hugging Face is a company that is helping tens of thousands of companies adopt conversational AI technologies. It has created an API that allows users to access and train their own machine-learning models. Its library has been used by Apple, Microsoft, Bing, and Monzo, and it provides an abstraction layer for developers to build their own applications. Its Transformer library offers thousands of pretrained models and APIs for text classification, GPT, and T5.
It has also recently launched Spaces, a new platform that allows members to create applications for their users. It has a community of over a thousand developers who contribute to the project and help develop the library’s technology.
Visit our site: Infowars