Next47 led a $30m Series B round in Encord.

Next47, a venture firm, led a $30m Series B round in Encord, a provider of AI development tools and infrastructure, with participation from Y Combinator, CRV, and Crane Venture Partners. “In 10 years, every company will have an AI department in the same way that they have an IT department today or risk losing relevance, and Encord will be the only platform they need to accomplish the process of turning data into functional AI models. As AI models begin tackling increasingly complex problems, the access to and management of data will only become more crucial. By leading with automation, we’ve built a scalable solution to support customers on every step of their AI journey,” Ulrik Stig Hansen, Encord Co-Founder and President.