Wirestock Raises $23 Million Series A to Expand AI Data Supply Business
Updated
Updated · TechCrunch · May 14
Wirestock Raises $23 Million Series A to Expand AI Data Supply Business
1 articles · Updated · TechCrunch · May 14
$23 million in Series A funding will help Wirestock scale the AI data-supply business it built after pivoting from stock-photo distribution in 2023.
700,000-plus artists and designers now use the platform to produce images, video, design, gaming and 3D datasets, with CEO Mikayel Khachatryan saying a majority opted into the AI data business.
Wirestock says it already serves six of the largest foundation-model makers, has reached a $40 million annual revenue run rate, and has paid $15 million to contributors.
60 employees are being expanded across research, engineering and product as the company also builds enterprise software for AI labs to collaborate on datasets.
The raise, led by Nava Ventures and lifting total funding to about $26 million, comes as demand for multimodal training data fuels rapid growth across the broader AI data market.
With 99% of artists reportedly disliking AI, how did Wirestock convert a majority of its creators into AI data providers?
As Wirestock sells AI data, are its controversial artist contracts a legal time bomb for the company and its investors?