Anthropic Raises $450M in Series C Funding to Develop Reliable AI Products
Following the participation of Spark Capital in the just concluded Series C funding round, Yasmin Razavi, a General Partner at the venture capital fund, joined Anthropic as part of the board of directors.
Anthropic, an American artificial intelligence (AI) startup founded by former OpenAI members, has announced the closure of a series C funding round with $450 million at an undisclosed valuation. According to the announcement the just concluded funding round was led by Spark Capital with notable participants from Google LLC, Salesforce Ventures, Sound Ventures, and Zoom Ventures, among many others. As AI technology takes centre stage in most global discussions, Anthropic hopes to be among the top companies delivering quality products with the help of its first product Claude.
Anthropic and AI Development
The AI startup noted that it intends to channel funds toward business development and AI research works to ensure safe adoption. Furthermore, AI development is still in the early stages with most products still producing errors in their output due to the model of training. Anthropic has ostensibly focused on a unique method of AI training dubbed constitutional AI to ensure the generative AI can behave humanely through defined values.
“We are thrilled that these leading investors and technology companies are supporting Anthropic’s mission: AI research and products that put safety at the frontier. The systems we are building are being designed to provide reliable AI services that can positively impact businesses and consumers now and in the future,” CEO Dario Amodei noted.
Following the participation of Spark Capital in the just concluded Series C funding round, Yasmin Razavi, a General Partner at the venture capital joined Anthropic as part of the board of directors. Razavi noted that Anthropic is well positioned to take on its competitors including OpenAI since it has a dedicated team with immense knowledge in the AI market.
“The overwhelmingly positive response to Anthropic’s products and research hints at AI’s broader potential for unlocking a new paradigm of flourishing in our society. I am delighted to join their Board,” Razavi noted.
Furthermore, Anthropic intends to use the raised capital to make strategic hiring in its product and research sectors to provide a reliable and trustworthy AI through the Claude technology.
Reportedly, Anthropic intends to raise up to $5 billion in the next two years to compete with OpenAI which has so far raised more than $11 billion from Microsoft Corp. (NASDAQ: MSFT). Late last year, Anthropic announced that it raised about $400 million from Google, whereby the two entities forged a strategic partnership.
Earlier this month, Anthropic announced a strategic partnership with Zoom Video Communications Inc. (NASDAQ: ZM), whereby the latter will use Claude to build customer-facing AI products focused on reliability and productivity.
Mid-last month, Anthropic announced a formal partnership with Scale, a leading platform for building, deploying and managing Generative AI applications.
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