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<h2>Datumo Secures $15.5 Million to Enhance AI Safety and Evaluation</h2>
<p id="speakable-summary" class="wp-block-paragraph">A recent McKinsey report reveals that many organizations feel unprepared to safely and responsibly implement generative AI. Key among the concerns is explainability—the need to comprehend AI decision-making processes. While 40% of respondents consider this a high risk, only 17% are addressing it effectively.</p>
<h3>From Data Labeling to AI Safety Solutions</h3>
<p class="wp-block-paragraph">Seoul-based <a target="_blank" href="https://open.datumo.com/en/" rel="noreferrer noopener nofollow">Datumo</a>, originally focused on AI data labeling, is now on a mission to support businesses in creating safer AI systems. Their tools facilitate testing, monitoring, and model improvement without requiring advanced technical skills. The startup recently raised $15.5 million, bringing its total funding to approximately $28 million, backed by investors like Salesforce Ventures, KB Investment, ACVC Partners, and SBI Investment.</p>
<h3>Innovative Ideas from Frustration</h3>
<p class="wp-block-paragraph">Frustrated by the tedious process of data labeling, CEO David Kim, a former AI researcher at Korea's Agency for Defense Development, invented a reward-based app that allows users to label data in their spare time while earning money. This concept was validated at a startup competition hosted by KAIST (Korea Advanced Institute of Science and Technology), leading to the founding of Datumo in 2018 alongside five KAIST alumni.</p>
<h3>Rapid Growth and Client Demand</h3>
<p class="wp-block-paragraph">Even before the app was fully developed, Datumo garnered tens of thousands of dollars in pre-contract sales during the customer discovery phase. In its first year, the startup exceeded $1 million in revenue and secured several prominent contracts. Today, its client roster includes major Korean corporations like Samsung, Hyundai, and SK Telecom, with over 300 total clients and an estimated revenue of $6 million in 2024.</p>
<h3>Expanding Services Beyond Labeling</h3>
<p class="wp-block-paragraph">“Clients began requesting more than just data labeling, wanting us to evaluate their AI model outputs,” said Michael Hwang, co-founder of Datumo, in a TechCrunch interview. This shift revealed that the company was already engaged in AI model evaluation, prompting it to release Korea's first benchmark dataset focused on AI trust and safety.</p>
<h3>Adapting to the Evolving AI Landscape</h3>
<p class="wp-block-paragraph">“We started with data annotation and expanded into pretraining datasets and evaluations as the LLM ecosystem matured,” Kim explained.</p>
<h3>Competitive Landscape in AI Data and Evaluation</h3>
<p class="wp-block-paragraph">Meta's recent $14.3 billion investment in data-labeling company Scale AI underscores the growing importance of this sector. Following this, OpenAI ceased using Scale AI, indicating fierce competition for AI training data. Datumo shares similarities with companies like Scale AI while distinguishing itself through licensed datasets, particularly those sourced from published books.</p>
<h3>Innovative Evaluation Tools for Non-Developers</h3>
<p class="wp-block-paragraph">Datumo sets itself apart by offering a comprehensive evaluation platform called <a target="_blank" href="https://datumo.com/en/" rel="noreferrer noopener nofollow">Datumo Eval</a>. This no-code tool enables non-developers in policy, safety, and compliance to proactively test for unsafe, biased, or inaccurate AI outputs.</p>
<h3>Investor Interest and Future Plans</h3>
<p class="wp-block-paragraph">After hosting an event with DeepLearning.AI's Andrew Ng, Kim shared insights on LinkedIn, piquing the interest of Salesforce Ventures. The fundraising process took about eight months. The new funding will propel R&D into automated evaluation tools and expand Datumo's market presence in South Korea, Japan, and the U.S.</p>
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Sure! Here are five FAQs with answers regarding Datumo’s recent funding and its mission:
FAQs about Datumo’s Funding and Mission
1. What is Datumo, and what does it do?
Answer: Datumo is a Seoul-based technology company specializing in data management and artificial intelligence solutions. The company aims to streamline data processes for businesses, helping them harness the power of AI technologies effectively.
2. How much funding did Datumo recently secure, and who are its investors?
Answer: Datumo raised $15.5 million in funding, with significant backing from Salesforce. This investment underscores the growing interest in AI and data management solutions.
3. How does Datumo plan to compete with Scale AI?
Answer: Datumo intends to differentiate itself by providing unique data services and advanced AI capabilities tailored to the needs of businesses in various industries. The company aims to offer more customizable and integrated solutions compared to its competitors.
4. Why is Salesforce’s investment significant for Datumo?
Answer: Salesforce’s investment is significant because it not only provides financial support but also enhances Datumo’s credibility and visibility in the tech industry. It may also open doors for strategic partnerships and access to a broader customer base.
5. What are the future plans for Datumo following this funding round?
Answer: Following this funding round, Datumo plans to expand its product offerings, invest in research and development, and enhance its sales and marketing efforts to grow its market presence and better serve its clients.
Feel free to ask if you need more information!