Wirestock raises $23M to supply creative multi-modal data to AI labs

Wirestock, a company that previously helped photographers distribute their work, has pivoted to become a significant data provider for AI labs. This strategic shift, initiated in 2023, has enabled them to supply a wide range of datasets, including images, videos, design assets, and 3D content. The platform boasts over 700,000 artists and designers contributing to data collection.

The company recently raised $23 million in Series A funding to further build out its data supply business. This investment, led by Nava Ventures with participation from notable firms like SBVP, will fuel the expansion of their operations. Wirestock reported an annual run-rate revenue of $40 million and has already paid out $15 million to its contributors.

Wirestock focuses on providing multi-modal data for AI models that support creative applications, such as image and video generation. They are also exploring new modalities like audio and music. The company currently serves six of the largest foundation model makers, although their names remain undisclosed.

The transition involved retraining teams for detailed data annotation and labeling, as well as building sales and enterprise divisions to engage with hyperscalers. Wirestock employs a rigorous quality control process, including an unpaid task for new contributors and a mix of AI and human reviews.

The demand for high-quality data is surging as AI labs strive to enhance their models. Wirestock aims to meet this demand by enabling AI models to complete real-world tasks more effectively and create more human-like systems. The company plans to use the new funding to hire for research, engineering, and product roles and develop enterprise software for AI lab collaboration.