CloudFactory, a Durham-based startup that connects remote workers around the world with employment on AI-based data projects, has announced a $65 million growth equity funding investment from FTV Capital and Weatherford Capital.
“Our investments in demand generation and business development will help grow CloudFactory’s visibility with would-be AI disruptors,” CEO Mark Sears tells Hypepotamus. “We plan to focus on increasing market awareness and sales capacity to attract more clients globally.”
As artificial intelligence and machine learning become more popular, companies seeking a foothold in the industry can’t process the volumes of data needed to feed their algorithms on their own — so they must turn to skilled employees for help.
“Talent is equally distributed around the world, but opportunity is not,” Sears told Hypepotamus last April. “How can we take an amazing starting point of someone with a ton of talent and desire to join the global economy? How can we use technology and training and systems to really bridge the gap?”