Series C20 November 2019

CloudFactory secures £50.3m Series C investment led by FTV Capital to scale operations

FTV Capital led the investment round with participation from Weatherford Capital to advance workforce development and global market expansion.

£50.3MSeries C

CloudFactory provides managed workforce solutions for artificial intelligence and machine learning data processing. The company combines people and technology to deliver data labeling services while creating economic opportunities in developing nations.

CloudFactory has secured £50.3m in growth equity funding led by FTV Capital, with additional participation from Weatherford Capital. The capital will be deployed to scale operations, expand workforce training, and drive global market awareness.

The company provides managed teams that combine human workers with annotation technology to process complex datasets for artificial intelligence applications. Delivery centres in Nepal and Kenya serve as community anchors that generate local economic impact.

Following the transaction, FTV Capital representatives Alex Mason and Abhay Puskoor, alongside Sam Weatherford of Weatherford Capital, will join the board of directors.

From the founder

"A company can have the best tools, but people are the critical factor in determining the quality of data feeding these algorithms. By valuing our workforce above all else they become more engaged in their work and, using the best tools, deliver the highest quality data for our customers."

Mark Sears

Founder and CEO at CloudFactory

Investor perspective

"CloudFactory is poised for tremendous growth across many industry verticals where executives are clamoring for data labeling capabilities that meet superior quality standards and are consistently delivered. We are excited to partner with CloudFactory’s proven management team who have the unique vision and exemplary execution skills to achieve their business goals and successfully fulfill their mission."

Alex Mason

Partner, FTV Capital