![]() ![]() The global enterprise AI and machine learning platform are not the only ones in the market receiving funding as investors are also realising the potentials by taking positions in similar companies.Įxamples of this are Element raising $18m to enable the data-driven transformation of industrial enterprises and AI negotiation platform Pactum raising $3m. Circle recently brought on a head of sales, so the company will be focused on ramping up that area as demand from brands and businesses comes in.Example dashboard of Dataiku global enterprise AI platform | Credit: DataikuĮnterprise AI is becoming an increasingly hot topic with industries realising the potential of integrating AI into its processes at a significant rate, arguably due to COVID-19 and the increasing switch to a digital economy and workforce. 100M SERIES GLOBAL FOUNDERS TIGER STRIPES ANDROIDThe new funding will enable the company to further invest in R&D, technology development, building both Android and desktop apps, investing in sales and customer success teams and creating a marketing team. ![]() “Some of our competitors were around for a long time, but what no one was getting right is an all-in-one approach combining chat, social media and community.” “We were able to speak to a big chunk of early customers about what they were needing from the community platform,” Yadav said. It also launched several new features in 2021, including discussions, livestreaming, events capabilities and payments - features customers had been requesting. It also now has 40 employees, growing from 15 at the beginning of the year. The creator movement is entering prime time, and so is Circle with a fresh $4MĪlong with that recent growth, Circle just crossed over $4 million in annual recurring revenue, up from $1 million a year ago. He was interested in their founder-first approach in investing and that the firm was going to connect Circle with its network of management consulting and recruiting. The attention from Tiger “was very flattering,” Yadav said. However, after reaching 25% in month over month revenue growth in September and receiving inbound interest, especially from Tiger Global, the company thought it would be best to raise sooner and get the right valuation. Yadav wasn’t intending to raise additional capital so soon after its last round in fact, the company thought it would be able to ride it out for a couple of years and go after capital again in early 2022. One of the goals was to see how best to utilize the money to leapfrog the competition.” “We want to make sure we earn the valuation and believe that we can return it for investors. “For us, this is nice to have,” he added. Over the last few months, Yadav said the company got signals that product market fit was there, which put levers in motion for Circle to move faster as the community space began getting competitive. This is a jump from a $40 million valuation from the February seed round. The latest investment gives Circle $200 million in post-money valuation. ![]()
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