Hive Revenue, Valuation, Funding & Investors

Hive is valued at $2B as of April 2021, a 29.9x multiple on its last reported $67M revenue.

See full Hive profile

Last Hive valuation

$2B

Series D · Apr 2021

Last Hive funding round

$50M

Series D · Apr 2021

Hive revenue

$67M

Series D · Apr 2021

Key investors in Hive

  • General Catalyst
  • Tomales Bay Capital
  • 8VC
  • Bain & Company
  • Jericho Capital
  • Founders Fund

Hive Overview

About Hive

Hive supplies cloud-based AI for content understanding, search, and generation to Fortune 500 clients. San Francisco-headquartered since 2017, the company processes billions of API calls monthly with models for moderation, brand protection, and ad targeting. Hive raised $50 million in Series D funding at $2 billion valuation in 2021, employing 175 staff and 2.5 million labelers globally.


Founded

2013

HQ

United StatesSan Francisco, CA

Website

thehive.ai

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based

Revenue

$67M (Apr 2021)

Valuation

$2B (Apr 2021)

Hive Valuation

Hive is currently valued at $2B, based on its Series D in April 2021.

The $50M round was led by Glynn Capital Management, with participation from General Catalyst, Jericho Capital, Tomales Bay Capital and Bain & Company.

Hive's valuation has grown 22x from $91M at its Series A in December 2016 to $2B in April 2021, across 2 priced rounds.

Hive valuation by funding round

Revenue multiple
Hive valuation by funding round
DateStageValuationRevenue Multiple
Apr 2021Series D$2B29.9x
Dec 2016Series A$91M1.0x

Hive Revenue

Hive's latest recorded revenue is $67M, as of its Series D in April 2021. At a $2B valuation, that implies a 29.9x revenue multiple.

Revenue moved from $93M in December 2016 to $67M in April 2021, while the revenue multiple moved from 1.0x to 29.9x.

Hive revenue by funding round

Hive revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Apr 2021$67M$2B29.9xSeries D
Dec 2016$93M$91M1.0xSeries A

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Hive Funding History

Hive has raised a total of $121M across 5 funding rounds.

Hive's first fundraising round was a $2M seed round in December 2014. The most recent completed round was a $50M Series D in April 2021.

Hive funding rounds

Hive funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2021Series DGlynn Capital Management (lead); General Catalyst; Jericho Capital; Tomales Bay Capital; Bain & Company$50M$2BHIVE Digital Technologies is a cryptocurrency mining company that generates revenue from digital currency mining operations. For the fiscal year ended March 31, 2021, HIVE achieved record annual revenue from digital currency mining of $66.7 million, representing a 174% increase from the prior year. The company mined 595 Bitcoin and over 96,300 Ethereum during this period, with a gross mining margin of $50.1 million. Net income for fiscal 2021 was $42.5 million, a substantial improvement from a net loss of $1.7 million in fiscal 2020. The improvement in profitability was driven by increased mining production from expansion activities, higher cryptocurrency prices, gains on digital currency sales, and favorable foreign exchange movements. Digital currency assets held by the company totaled $57.5 million as of March 31, 2021.
Jan 2020Series CTomales Bay Capital (lead); General Catalyst; Visa Ventures; Jericho Capital; Bain & Company$37M--
Aug 2018Series BTomales Bay Capital (lead); General Catalyst; Bracket Capital; 8VC$14M--
Dec 2016Series A8VC (lead); General Catalyst; Rocketship.vc; Eniac Ventures; Reddy Futures; Founders Fund; Dan Rumennik$18M$91MHive is an artificial intelligence company specializing in machine learning, computer vision, and deep learning technologies for content moderation and data annotation. The company has built a distributed workforce platform that generates training data for AI models, accumulating over 2.5 million contributors and generating billions of human judgments used by major enterprises. In December 2016, Hive closed a Series A-1 funding round led by 8VC at a post-money valuation of $90.9 million, raising capital to accelerate product development and market expansion. The round included participation from other early-stage investors including Eniac Ventures and Founders Fund. This funding supported Hive's transition from an internal annotation tool to a commercial platform offering APIs for image recognition, object detection, and content classification used across content moderation, brand protection, and autonomous systems development. By 2021, the company had grown substantially, raising a Series D round at a $2 billion valuation with participation from prominent investors including General Catalyst, Glynn Capital, and Bain & Company, demonstrating significant value creation over the five-year period following the 2016 Series A-1 round.
Dec 2014SeedGeneral Catalyst (lead)$2M--

Who has invested in Hive?

13 investors have backed Hive across its funding rounds, including General Catalyst, Tomales Bay Capital, 8VC, Bain & Company, Jericho Capital and Founders Fund.

Lead investors include Glynn Capital Management, Tomales Bay Capital, 8VC and General Catalyst.


Hive Investors

Investors in Hive by funding rounds participated
InvestorHQRoundsRoleFirst check
General CatalystUnited StatesSan Francisco, CA5LeadDec 2014
Tomales Bay CapitalUnited StatesSan Francisco, CA3LeadAug 2018
8VCUnited StatesSan Francisco, CA2LeadDec 2016
Jericho CapitalUnited StatesNew York City, NY2ParticipantJan 2020
Bain & CompanyUnited StatesBoston, MA2ParticipantJan 2020
Rocketship.vcUnited StatesSan Francisco, CA1ParticipantDec 2016
Visa VenturesUnited StatesSan Francisco, CA1ParticipantJan 2020
Eniac VenturesUnited StatesNew York City, NY1ParticipantDec 2016
Bracket CapitalUnited StatesLos Angeles, CA1ParticipantAug 2018
Reddy FuturesIndiaHyderabad1ParticipantDec 2016
Founders FundUnited StatesSan Francisco, CA1ParticipantDec 2016

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Hive Competitors

Hive competitors include listed companies like Fractal Analytics and Haizhi, and private ones like Yitu Technology, Preferred Networks, Distyl AI and PhysicsX.

Public and private companies comparable to Hive
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Yitu TechnologyChinaShanghaiPrivate--$2B-
Preferred NetworksJapanTokyoPrivate--$1.9B-
Distyl AIUnited StatesSan Francisco, CAPrivate--$1.8B-
PhysicsXUnited KingdomLondonPrivate$50M-$2.4B48.0x
Fractal AnalyticsIndiaIndiaPublicly listed$344M$50M$1.3B3.4x
HaizhiChinaChinaPublicly listed$93M($30M)$2.1B16.3x

Hive Public Comps

Hive is still privately-owned, but its public comps include Haizhi, Ncino, Affle 3i, C3.ai, Wenge AI, TRS Information Technology, Shenzhen Ysstech Info, PCITECH, Intsig Information and BigBear.ai.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Haizhi$93M($30M)21.5x16.3x(67.1x)(440.4x)
Ncino$595M$65M4.3x4.0x39.0x15.8x
Affle 3i$282M$67M7.4x6.7x31.3x29.5x
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Wenge AI$60M($20M)27.6x-(82.7x)-
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
Shenzhen Ysstech Info$205M$4M7.2x-378.8x-
PCITECH$1.5B$53M0.8x0.9x24.1x-

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Common questions about Hive

When was Hive founded?Hive was founded in 2013.
Where is Hive headquartered?Hive is headquartered in San Francisco, CA, United States.
Is Hive publicly listed?No, Hive is a private, VC-backed company.
What is Hive's valuation?Hive was last valued at $2B in its Series D in April 2021.
How much funding has Hive raised?Hive has raised $121M across 5 funding rounds.
What was Hive's last funding round?Hive's last funding round was a $50M Series D in April 2021, led by Glynn Capital Management.
Who are Hive's investors?Hive's investors include General Catalyst, Tomales Bay Capital, 8VC, Jericho Capital, Bain & Company, Rocketship.vc, Visa Ventures, Eniac Ventures, Bracket Capital, Reddy Futures and 3 others.
What is Hive's revenue?Hive's latest recorded revenue is $67M (April 2021).
What is Hive's revenue multiple?Hive's latest valuation implies a 29.9x revenue multiple ($2B valuation on $67M of revenue).
Which companies are comparable to Hive?Companies comparable to Hive include Yitu Technology, Preferred Networks, Distyl AI, PhysicsX, Fractal Analytics and Haizhi.

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