Multimodal AI Video Specialist 'Twelve Labs' Secures $30 Million Strategic Investment

Participation of Domestic and International Companies... Accumulated 153 Billion KRW
Accelerating Technological Innovation and Business Expansion
Speeding Up Global Talent Recruitment Connecting Korea and the US

Video understanding AI development company 'Twelve Labs (CEO Jaesung Lee)' announced on the 13th that it has secured a strategic investment of $30 million (approximately 43 billion KRW).

This investment involved global data platform companies Snowflake and Databricks, as well as SK Telecom, HubSpot Ventures, and Incutel. Since the Series A funding round in June, leading companies in the data and AI sectors have consecutively invested, recognizing Twelve Labs' technological capabilities. With this strategic investment, Twelve Labs' cumulative investment amount reaches approximately $107 million (about 153 billion KRW).

The investors focused on Twelve Labs' unique multimodal video understanding technology and its proven customer value in the market. Through this collaboration, companies will be able to develop a variety of services ranging from sophisticated content recommendation systems to advanced video search engines and automated content management tools. In particular, Databricks and Snowflake plan to integrate their respective data with Twelve Labs' technology to provide corporate clients with more powerful video understanding capabilities.

SK Telecom is accelerating the development of next-generation AI services through cooperation with Twelve Labs. The two companies plan to combine their AI capabilities to enhance AI agent services and strengthen competitiveness in the multimodal AI field beyond text AI based on large language models (LLM).

Especially, they aim to advance object and human recognition technology within videos to apply it across various fields such as media and security, and expand services into public safety sectors like AI surveillance systems. Jaeshin Lee, Head of AI Growth Strategy at SKT, stated, "Through cooperation with Twelve Labs, we will further strengthen our competitiveness in the multimodal AI field and introduce innovative services that customers can genuinely experience."

Based on this investment, Twelve Labs will accelerate technological innovation and business expansion. The company will focus on advancing video understanding models that actively reflect diverse customer needs and prioritize securing global-level AI talent. Following the recent recruitment of Yoon Kim, former CTO of SK Telecom and a key developer of Apple Siri, as CSO last month, the company will also accelerate the recruitment of global talent connecting the AI ecosystems of Silicon Valley and Korea.

Jaesung Lee, CEO of Twelve Labs, said, "Collaboration with global leading companies is an opportunity to provide our video understanding technology to more enterprises. Through this cooperation, we will bring forward the ChatGPT moment in the video field and present a new paradigm for video AI."

Meanwhile, since its founding in 2021, Twelve Labs has anticipated the potential of the video sector and built multimodal neural network technology. The ultra-large AI video-language generation model 'Pegasus' and the multimodal video understanding model 'Marengo,' launched in March, demonstrated up to approximately 43% performance superiority compared to other video-language models, proving their competitiveness.

This content was produced with the assistance of AI translation services.