- Companies
- Encord
Encord Funding, Investors & Competitors
Encord has raised $110M across 5 funding rounds, most recently a $60M Series C in February 2026.
Last Encord funding round
$60M
Series C · Feb 2026
Cumulative funding Encord raised
$110M
across 5 funding rounds
Key investors in Encord
CRV
Crane Venture Partners
Y Combinator
N47
Y Combinator Continuity Fund
Harpoon
Liquid 2 Ventures
Wellington Management
About Encord
Encord is a data development platform for multimodal AI, covering data annotation, labeling, quality control, and infrastructure to support AI model training, with a particular focus on physical AI applications. The platform integrates models such as Meta's Segment Anything and vision-language models, and its customers include Synthesia, Woven by Toyota, Skydio, Philips, Zoopla, Cedars-Sinai, and Northwell Health. The company launched out of Y Combinator's Winter 2021 batch and competes with data annotation providers including Scale AI, Datasaur, and Dataloop.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Encord Funding History
Encord has raised a total of $110M across 5 funding rounds.
Encord's first fundraising round was a $500K pre-seed round in February 2021. The most recent completed round was a $60M Series C in February 2026.
Encord funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2026 | Series C | Wellington Management (lead); N47; Y Combinator; Isomer Capital; Bright Pixel; Harpoon; CRV; Crane Venture Partners | $60M | - |
| Aug 2024 | Series B | N47 (lead); Y Combinator; CRV; Crane Venture Partners | $30M | Encord develops a data development platform for multimodal AI, focusing on data annotation, labeling, and infrastructure to support AI model training, particularly for physical AI applications. The company raised $30 million in a Series B round on August 13, 2024, led by Next47 (N47), with participation from existing investors Y Combinator, CRV, and Crane Venture Partners. This brought Encord's total funding to $50 million at that time, with proceeds allocated to doubling product, engineering, and AI research teams, and expanding San Francisco offices. Encord's platform enables AI teams to handle data generation, annotation, quality control, and processing across the model lifecycle, integrating advanced models like Meta's Segment Anything and vision-language models. Customers include Synthesia, Woven by Toyota, Skydio, Philips, Zoopla, Cedars-Sinai, and Northwell Health, with over 120 customers and 300 AI teams globally by mid-2024. The company launched via Y Combinator's Winter 2021 batch and competes in the growing data annotation market against Scale AI, Datasaur, Dataloop, and others. Subsequently, Encord raised a $60 million Series C in February 2026 led by Wellington Management at a reported $550M valuation, bringing total funding to $110M, with participation from prior investors including N47. This later round highlighted platform data growth from 1 to over 5 petabytes and 10x revenue increase from physical AI customers in the prior twelve months. |
| Oct 2021 | Series A | CRV (lead); Y Combinator Continuity Fund; Harpoon; Crane Venture Partners | $15M | Encord raised $15 million in a Series A funding round in October 2021. Investors included Crane Venture Partners, CRV as lead, Harpoon, and Y Combinator Continuity Fund. |
| Jun 2021 | Seed | CRV (lead); WndrCo; Harvard Management Company; Des Traynor; Y Combinator Continuity Fund; Crane Venture Partners | $5M | - |
| Feb 2021 | Pre-seed | Y Combinator (lead); Liquid 2 Ventures | $500K | - |
Who has invested in Encord?
13 investors have backed Encord across its funding rounds, including CRV, Crane Venture Partners, Y Combinator, N47, Y Combinator Continuity Fund and Harpoon.
Lead investors include Wellington Management, N47, CRV and Y Combinator.
Encord Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2021 | ||
| 4 | Participant | Jun 2021 | ||
| 3 | Lead | Feb 2021 | ||
| 2 | Lead | Aug 2024 | ||
| 2 | Participant | Jun 2021 | ||
| 2 | Participant | Oct 2021 | ||
| 1 | Lead | Feb 2026 | ||
| 1 | Participant | Feb 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Feb 2026 | ||
This data is available for Pro users. Sign up to see all 13 Encord investors. Start Free Trial | ||||
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Start Free TrialInvestments by Encord
Encord has invested in 1 company to date.
Latest investment by Encord was on April 15th 2026. Encord invested in Flare in their $4M Pre-seed round.
Latest Investments by Encord
| Description | Flare is an infrastructure provider linking real-world data to machine learning through verifiable methods. The platform merges human intelligence and AI to enhance information clarity and reliability. Flare aims to build a shared knowledge base for confident information navigation. |
| HQ Country | |
| HQ City | Copenhagen |
| Deal Date | 15 Apr 2026 |
| Round | Pre-seed |
| Raised | $4M |
| Investors | Eilert Giertsen Hanoa; HubSpot; 20Growth; Reddit; byFounders; Meta; 20VC; GitHub; Stack Overflow |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Encord investments and their VC round multiples. Start Free Trial | |
Encord Competitors
Encord competitors include listed companies like SenseTime Group, Presight AI, ServiceNow and Datadog, and private ones like Anthropic and OpenAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $748M | ($70M) | $6.6B | 6.2x | ||
| Publicly listed | $825M | $214M | $5.7B | 5.4x | ||
| Publicly listed | $13B | $2.6B | $140B | 9.4x | ||
| Publicly listed | $3.4B | ($588K) | $83B | 18.9x | ||
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x |
Encord Public Comps
Encord is still privately-owned, but its public comps include Palantir, SAP, CrowdStrike, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Moody's and Strategy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.5B | $1.5B | 93.4x | 58.5x | 287.3x | 98.0x | |||
| $42B | $13B | 5.9x | 5.5x | 18.6x | 17.2x | |||
| $4.8B | ($12M) | 49.7x | 43.0x | (19156.0x) | 145.8x | |||
| $42B | $13B | 5.4x | 5.1x | 17.5x | 12.0x | |||
| $13B | $2.6B | 10.8x | 9.4x | 55.9x | 24.4x | |||
| $4.7B | ($1.3B) | 25.1x | 20.6x | (92.4x) | 119.4x | |||
| $24B | $9.3B | 4.2x | 3.8x | 10.8x | 8.1x | |||
| $3.4B | ($588K) | 23.0x | 18.9x | (134100.2x) | 75.4x | |||
This data is available for Pro users. Sign up to see all Encord competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Encord
| When was Encord founded? | Encord was founded in 2021. |
| Where is Encord headquartered? | Encord is headquartered in United States. |
| Is Encord publicly listed? | No, Encord is a private, VC-backed company. |
| How much funding has Encord raised? | Encord has raised $110M across 5 funding rounds. |
| What was Encord's last funding round? | Encord's last funding round was a $60M Series C in February 2026, led by Wellington Management. |
| Who are Encord's investors? | Encord's investors include CRV, Crane Venture Partners, Y Combinator, N47, Y Combinator Continuity Fund, Harpoon, Wellington Management, Liquid 2 Ventures, WndrCo, Harvard Management Company and 3 others. |
| Which companies are comparable to Encord? | Companies comparable to Encord include SenseTime Group, Presight AI, ServiceNow, Datadog, Anthropic and OpenAI. |
| How many companies has Encord invested in? | Encord has invested in 1 company, including Flare. |
| What was Encord's last investment? | In April 2026, Encord invested in Flare's $4M pre-seed round alongside Eilert Giertsen Hanoa, HubSpot, 20Growth and 6 other investors. |
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