Twelve Labs Raises $50M Series A

Twelve Labs, a San Francisco, CA-based video understanding company, raised $50M in Series A funding.

The round was led by New Enterprise Associates (NEA) and NVentures. Previous investors, including Index Ventures,  Radical Ventures, WndrCo, and Korea Investment Partners also participated.

The company intends to use the funds to expand its R&D, nearly double headcount and to add more than 50 employees by the end of the year.

Led by CEO Jae Lee, Twelve Labs makes video instantly, intelligently searchable and understandable. Its video understanding technology enables the accurate and timely discovery of valuable moments within an organization’s vast sea of videos so that users can do and learn more.

The company has integrated a number of NVIDIA frameworks and services within its platform, including the NVIDIA H100 Tensor Core GPU and NVIDIA L40S GPU, as well as inference frameworks such as NVIDIA Triton Inference Server and NVIDIA TensorRT. These technologies have enabled Twelve Labs to develop foundation models for multimodal video understanding. It is also exploring product and research collaborations with NVIDIA to bring multimodal foundation models and enabling frameworks to market.

Twelve Labs has also launched Marengo 2.6, a state-of-the-art multimodal foundation model, as the latest version of its Pegasus model, which sets a new standard in video-language modeling, enters open beta.