Twelve Labs, a pioneering video understanding company, has announced a significant strategic investment of $30 million from major players including Databricks, SK Telecom, Snowflake Ventures, HubSpot Ventures, and In-Q-Tel(IQT). 

This funding is a testament to the innovative impact Twelve Labs is making in the media and entertainment industries, including professional sports leagues, major film studios, and extensive content creators.

The company plans to use the investment to accelerate its development initiatives and expand its workforce to meet the increasing customer demand and continue its innovative research and development. 

Twelve Labs recently unveiled its groundbreaking video foundation model, Marengo 2.7, which introduces a cutting-edge multi-vector approach to video understanding, setting new industry standards for accuracy and efficiency.

The collaboration with Databricks and Snowflake will integrate Twelve Labs’ capabilities into their platforms, marking a significant evolution in the AI ecosystem. This partnership aims to leverage Twelve Labs’ advanced video understanding tools to enhance content personalization, search capabilities, and audience engagement through Snowflake’s Cortex AI and Databricks’ data intelligence platforms.

Furthermore, Twelve Labs is strengthening its executive team with the addition of Dr. Yoon Kim as President and Chief Strategy Officer. Dr. Kim brings a wealth of experience from his previous roles, notably his significant contributions to AI development as the CTO at SK Telecom and through his work on Apple’s Siri as part of the Novauris Technologies team, which was acquired by Apple. His expertise in AI and deep tech will be pivotal as Twelve Labs continues to expand its global operations and solidifies its position in the market.

Dr. Kim’s appointment underscores Twelve Labs’ commitment to innovation and its strategic focus on scaling operations globally. With a robust team and strong leadership, Twelve Labs is set to further enhance its video AI technologies, fostering the next generation of video understanding solutions that transform how industries engage with video content.