Labelbox provides a platform that assists companies in producing labeled data for ML applications using a customizable data engine. It offers a visual workflow interface and a system of record for the data labeling process, utilizing annotation tools, quality control functionality, and performance analytics. The platform performs qualitative and quantitative analysis to rectify errors in AI models within the dataset, while also evaluating model performance through automated differential diagnoses between model predictions and labels, or by comparing them with previous model versions. Labelbox also offers "Boost," which is a service that provides dedicated labeling experts. Additionally, the platform acts as a central hub for data science teams to create and manage training data with both internal and external labeling teams.
As of January 2023, the company operated in the US and Europe.
Key customers and partnerships
As of January 2022, the company counted more than 200 customers with notable customers such as Bosch, Warner Bros., Intuitive, and Audi. The company served the Fortune 500, Global 2000, and customers in the defense, insurance, retail and ecommerce, healthcare, media and entertainment, sensors and robotics, and technology and software industries.
Funding and financials
In January 2022, the company raised USD 110 million in a Series D funding round led by SoftBank’s Vision Fund 2 at a valuation of more than USD 1 billion. The funds were utilized to expand its product capabilities and customer base.
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