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

Encord Overview

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

United StatesUnited States

Website

encord.com

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

Encord funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2026Series CWellington Management (lead); N47; Y Combinator; Isomer Capital; Bright Pixel; Harpoon; CRV; Crane Venture Partners$60M-
Aug 2024Series BN47 (lead); Y Combinator; CRV; Crane Venture Partners$30MEncord 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 2021Series ACRV (lead); Y Combinator Continuity Fund; Harpoon; Crane Venture Partners$15MEncord 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 2021SeedCRV (lead); WndrCo; Harvard Management Company; Des Traynor; Y Combinator Continuity Fund; Crane Venture Partners$5M-
Feb 2021Pre-seedY 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

Investors in Encord by funding rounds participated
InvestorHQRoundsRoleFirst check
CRVUnited StatesUnited States4LeadJun 2021
Crane Venture PartnersUnited KingdomLondon4ParticipantJun 2021
Y CombinatorUnited StatesSan Francisco, CA3LeadFeb 2021
N47United StatesSan Francisco, CA2LeadAug 2024
Y Combinator Continuity FundUnited StatesSan Francisco, CA2ParticipantJun 2021
HarpoonUnited StatesSan Diego, CA2ParticipantOct 2021
Wellington ManagementUnited StatesBoston, MA1LeadFeb 2026
Liquid 2 VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2021
WndrCoUnited StatesLos Angeles, CA1ParticipantJun 2021
Harvard Management CompanyUnited StatesBoston, MA1ParticipantJun 2021
Isomer CapitalUnited KingdomLondon1ParticipantFeb 2026

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Investments 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

Flare
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 CountryDenmark
HQ City
Copenhagen
Deal Date15 Apr 2026
RoundPre-seed
Raised$4M
InvestorsEilert Giertsen Hanoa; HubSpot; 20Growth; Reddit; byFounders; Meta; 20VC; GitHub; Stack Overflow
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Encord Competitors

Encord competitors include listed companies like SenseTime Group, Presight AI, ServiceNow and Datadog, and private ones like Anthropic and OpenAI.

Public and private companies comparable to Encord
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SenseTime GroupChinaChinaPublicly listed$748M($70M)$6.6B6.2x
Presight AIUAEUAEPublicly listed$825M$214M$5.7B5.4x
ServiceNowUnited StatesUnited StatesPublicly listed$13B$2.6B$140B9.4x
DatadogUnited StatesUnited StatesPublicly listed$3.4B($588K)$83B18.9x
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x
OpenAIUnited StatesSan Francisco, CAPrivate$25B-$852B34.1x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B93.4x58.5x287.3x98.0x
SAP$42B$13B5.9x5.5x18.6x17.2x
CrowdStrike$4.8B($12M)49.7x43.0x(19156.0x)145.8x
Salesforce$42B$13B5.4x5.1x17.5x12.0x
ServiceNow$13B$2.6B10.8x9.4x55.9x24.4x
Snowflake$4.7B($1.3B)25.1x20.6x(92.4x)119.4x
Adobe$24B$9.3B4.2x3.8x10.8x8.1x
Datadog$3.4B($588K)23.0x18.9x(134100.2x)75.4x

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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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