Hive AI, a software company that uses artificial intelligence to moderate digital content, is seeking to raise $200 million, according to people familiar with the matter.
(Bloomberg) — Hive AI, a software company that uses artificial intelligence to moderate digital content, is seeking to raise $200 million, according to people familiar with the matter.
The valuation is expected to be greater than the $2 billion the company was valued at in 2021. Hive’s valuation, which hasn’t been set, could end up being closer to $4 billion, said the people, who asked not to be identified because the discussions aren’t public.
They cautioned that the terms were still being finalized and the numbers could change. A representative for Hive didn’t respond to a request for comment.
Based in San Francisco, Hive’s content-moderation services help customers identify and block unwanted content on a range of platforms, including dating applications and e-commerce. It has a variety of use cases, such as helping real estate sites identify scam listings by comparing uploaded photos to a vast library of online images. Visa Inc., Netflix Inc. and Reddit Inc. are among the companies using its product, according to Hive’s website.
Founded in 2013, Hive raised $85 million at a valuation of $2 billion in 2021 from backers including Glynn Capital, General Catalyst, Tomales Bay Capital and Bain & Co., according to a statement at the time. Other investors include Founders Fund, Slow Ventures and Eniac Ventures.
Investor enthusiasm for AI-related startups has increased significantly in the past year, as more of the technology has come to market, showcasing its potential. Other startups that have received significant backing in the broader AI space include OpenAI, Cohere and Anthropic.
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