– Quality Match, a Heidelberg, Germany-based quality data annotation provider, today announced that it raised a €5 million ($6 million) seed round from LEA Partners.
– The company says it’ll use the proceeds to expand its team and accelerate product development.
– Training AI and machine learning algorithms requires plenty of annotated data. But data rarely comes with annotations.
– The bulk of the work often falls to human labelers, whose efforts tend to be expensive, imperfect, and slow.
– It’s estimated most enterprises that adopt machine learning spend over 80% of their time on data labeling and management.
– In fact, in a recent survey conducted by startup CloudFlower, data scientists said that they spend 60% of the time just organizing and cleaning data compared with 4% on refining algorithms.