PRESS RELEASE. KIVA AI, a promising new platform dedicated to advancing AI technology through improved data curation and human feedback, has successfully raised $7 million in a funding round led by Brooklyn-based Web3 investor CoinFund.
The round attracted participation from a lengthy and diverse range of funds and family offices including Paper Ventures, Protagonist, Foresight Ventures, Hashkey Capital, PEER VC, NGC Ventures, Big Brain Holdings, and Breed VC, as well as influential angel investors like wikiHow founder Jack Herrick, Slavin Rubin, Cyrus Massoumi, former Tinder CPO Brian Norgard, and former Al-Nassr FC chairman Mussali Al-Muammar.
Specializing in data collection, foundational model training, and AI fine-tuning, KIVA AI is poised to deliver the next generation of human feedback operations, with the goal of enhancing AI quality and reducing costs at scale. The company’s strategy is focused on addressing the growing market need for reliable, scalable human feedback mechanisms as demand for quality AI training intensifies.
“The AI industry’s appetite for high-quality, scalable human feedback is undeniable,” said KIVA AI founder Ahmed Rashad, whose experience at data platform Scale AI involved managing human labelers across 73 countries.
“Our aim with KIVA AI is to not just meet this demand but to set new standards for quality and efficiency in AI development. It’s enormously gratifying that so many prominent investors have backed our vision, and we are confident about bringing a fresh perspective to this exciting and evolving space.”
KIVA AI’s ambitious vision is to achieve $1.72 billion in annual recurring revenue (ARR) by capturing at least 10% of the market by 2030. This target reflects the fact that major AI players currently spend approximately $1 billion annually on data labeling solutions, representing 75-80% of market expenditure, a figure that is likely to rise in the years ahead.
By offering a combination of high-quality feedback services and software-as-a-service (SaaS) for Quality Assurance (QA) and data curation, KIVA AI seeks to redefine how AI systems are trained and improved. The platform will also focus on educating raters, aligning incentives between customers, raters, and operators, identifying the most suitable individuals for specific tasks, and empowering raters through an optimized user interface.
With the backing of so many leading investors, a clear vision for the future and an experienced team at the helm, KIVA AI is set to make a significant impact on the AI landscape, providing essential services to major LLM/Generative AI firms as well as smaller STEM/AI application developers and enterprises.
About KIVA AI
KIVA AI is focused on enhancing the development of artificial intelligence via improved data curation and sophisticated human feedback operations. With a commitment to quality and scalability, KIVA AI supports AI firms and enterprises in refining their technologies and achieving higher levels of performance and efficiency.
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