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#News(Startup) [ via IoTGroup ]
Join Transform 2021 for the most important themes in enterprise AI & Data. 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. Training AI and machine learning algorithms requires plenty of annotated data. It’s estimated most enterprises that adopt machine learning spend over 80% of their time on data labeling and management. Quality Match which was bootstrapped in 2019 by a team of former Pallas Ludens Apple Google Microsoft engineers aims to improve the speed and quality of data labeling processes by disambiguating the potential sources of error. The platform explains the sources of errors in datasets highlighting where edge cases originate and providing strategies on how to improve the data. There’s no shortage of data labeling startups competing with Quality Match — the market was valued at $1.3 billion in 2020 according to Grand View Research. For instance Scale AI has raised over $100 million for its suite of data annotation services. But Quality Match uniquely begins building or enhancing datasets by optimizing the representativeness and diversity of the samples ensuring they’re representative of the real world and contain difficult edge cases sprinkled throughout. Quality Match runs multiple repeats of this decision tree to provide confidence scores on all of the annotations. Moreover Quality Match provides metrics including geometric label and definition accuracy that are intended to inform about wrong tags or attributes as well as missed or spurious detections of annotations. “During the pandemic our industrial customers in particular have increasingly realized that they will have to rely more on high-tech solutions in the future because in these times large groups of people can no longer work together in one room ” said cofounder and managing director Daniel Kondermann who told VentureBeat that the goal this year is to reach €1 million in
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AutoTextExtraction by Working BoT using SmartNews 1.03976805238 Build 04 April 2020
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