Video understanding technology firm Twelve Labs has announced a $30 million funding round led by prominent investors, including Databricks, SK Telecom, Snowflake Ventures, and HubSpot Ventures. The investment reflects the increasing need for sophisticated video AI solutions across industries such as media, entertainment, and enterprise content management.
Twelve Labs’ technology simplifies video analysis by unifying text, image, and audio data into a single model, fostering innovations in content recommendations, search engines, and automated moderation tools.
The announcement coincides with the release of Twelve Labs’ latest video foundation model, Marengo 2.7. Leveraging a novel multi-vector approach, Marengo 2.7 enhances video comprehension capabilities, enabling features like precise semantic search, summarisation, and advanced analytics.
Databricks and Snowflake, global leaders in data infrastructure, are enhancing their collaboration with Twelve Labs by integrating its multimodal video models with Mosaic AI and Cortex AI to empower enterprises with more effective video AI capabilities.
“We’re incredibly excited to partner closely with leading data platforms. It’s a no-brainer for us to bring our video foundation models to the largest and most trusted enterprise infrastructure providers. This is just the beginning. Today we have interoperability with their leading vector databases and we’re looking forward to building out the next generation of AI tooling within these platforms,” said Jae Lee, CEO of Twelve Labs.
With Snowflake, Twelve Labs enables advanced video analytics while ensuring robust data security and governance. “Working with Twelve Labs opens opportunities for media, sports, and advertising customers to enhance video personalisation and creative workflows,” said Bill Stratton, Snowflake’s Global Head of Media, Entertainment & Advertising.
Databricks has also incorporated Twelve Labs’ Embed API into its Data Intelligence Platform, reducing development time for complex video applications. Andrew Ferguson, VP of Databricks Ventures, noted, “This collaboration addresses the challenges of processing large-scale video datasets, enabling innovative AI-driven applications.”
This funding will drive the company’s R&D efforts and expand its workforce to meet growing customer demand. The firm aims to unlock the potential of enterprise video archives, offering solutions that transform raw video data into actionable insights.