Twelve Labs Lands $30M Funding
Summary
Twelve Labs today announced that three of the worlds leading infrastructure providers, Databricks, SK Telecom, and Snowflake Ventures, as well as HubSpot Ventures and In-Q-Tel (IQT) have each made a significant strategic investment in the company. The $30 Million in funding underscores the value Twelve Labs delivers to end customers, particularly across the media and entertainment space, including professional sports leagues, major film and production studios, and the worlds largest content creators and developers, as well as other businesses utilizing large stores of video content. The news comes upon release of its latest video foundation model, Marengo 2.7, which applies an entirely new multi-vector approach to video understanding, yielding unprecedented results. Twelve Labs makes video instantly, intelligently searchable and understandable. Twelve Labs state-of-the-art video understanding technology enables the accurate and timely discovery of valuable moments within an organizations vast sea of videos so that users can do and learn more.