CloudFactory Closes $3M in Series A Funding

Funding Rounds

▤ Summary

CloudFactory, a Durham, N.C.-based provider of a distributed labor platform, closed $3m in Series A funding.The round was led by David Clouse, founder of VRBO, with participation from other institutional and angel investors.The company intends to use the funds to grow its U.S.­based sales and marketing team.Led by Founder and CEO Mark Sears, CloudFactory provides a distributed labor platform that melds human and machine intelligence to allow technology­ based companies to grow their businesses by creating new revenue streams, improving customer retention, and widening adoption, by adding capabilities that can’t be otherwise accomplished.The platform divides work into a series of small tasks along a virtual production line, distributes the tasks to the optimal workers, and reassembles the completed tasks, assuring quality both manually and algorithmically.

$ Funding

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Amount $3.0M Total raised
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Date October 10, 2014 Announcement date
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Investors CloudFactory Lead investors
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Company http://cloudfactory.com Funded company

▥ Classifications

industries
No industries detected
applications
Web and Content Management

◇ AskAI Classifications

Labels
Artificial Intelligence Machine Learning Data Annotation Software

▦ Linked Companies

CloudFactory
$1M to $5M