Scale AI, a company working to accelerate AI app development, received a new investment from Meta Platforms that brings Scale’s valuation to more than $29 billion. The deal expands the two entities’ commercial relationship and grants Meta a minority stake in Scale’s outstanding equity.
Scale equips enterprises with a generative AI platform that uses their organization’s data to customize powerful base generative models. Serving large companies like Microsoft and Open AI, startups like OpenSea as well as government agencies including the U.S. Army, Scale’s platform offers tools to help customers collect, curate and annotate high-quality data and optimize their models.
The new capital will go toward fueling product innovation, strengthening customer partnerships and providing shareholder liquidity. As part of the investment, Scale’s founder Alexandr Wang is joining Meta to work on its AI initiatives, and chief strategy officer Jason Droege will serve as Scale’s interim CEO.
“AI is one of the most revolutionary technologies of our time, with unlimited possibility and far-reaching influence on how people, businesses and governments succeed,” Wang said in a statement. “Scale bridges the gap between human values and technology to help our customers realize AI’s full potential. Meta’s investment recognizes Scale’s accomplishments to date and reaffirms that our path forward — like that of AI — is limitless.”
