Twelve Labs Closes $12M Seed Extension Round
Twelve Labs closed a $12M seed extension round, bringing the total amount of seed funding raised to $17M. The round was led by Radical Ventures with participation from existing investors, to include Index Ventures. New investors included WndrCo, Spring Ventures and some well-known angel investors. Rob Toews, a partner at Radical Ventures, joined the board of directors.
"This is a very exciting time for Twelve Labs and the entire AI industry. We are deeply appreciative of the strong support from our early customers and investors, as well as from our cloud partner, Oracle,” Jae Lee, Twelve Labs’ co-founder and CEO said in a company release. “With our powerful foundation model for video, we are well positioned to advance video understanding and to unlock the full potential of video and creativity."
Twelve Labs APIs enable video search that understands context, both visual and audio, allowing a user to type in a search query where Twelve Labs AI automatically outputs the relevant scenes. Users can sign up for the Twelve Labs waitlist. A public beta is coming sometime next year.