Handshake has acquired the startup Cleanlab in a strategic acqui-hire, integrating nine key employees, including co-founders Curtis Northcutt, Jonas Mueller, and Anish Athalye, into its research division. The agreement, details of which remain undisclosed, underscores Handshake’s focus on enhancing its research and development capabilities. Cleanlab, founded in 2021, specializes in software that improves the quality of data generated by human labelers, leveraging technology to boost efficiency without the need for secondary reviewers.
As part of this deal, the nine Cleanlab employees will contribute their expertise to Handshake, a company valued at $3.3 billion in 2022, that aims to increase its annual recurring revenue (ARR) to around $300 million by the end of 2025. The acquisition is seen as a strategic move to attract top talent to bolster Handshake’s offerings, particularly in relation to AI data quality, which is critical in the current landscape marked by rapid advancements in artificial intelligence.
Cleanlab has garnered approximately $30 million in funding from notable investors such as Menlo Ventures, TQ Ventures, Bain Capital Ventures, and Databricks Ventures. The startup’s research centers on developing algorithms designed to identify and address incorrect data labeling, thereby enhancing the overall quality of data supplied to AI laboratories. “We have an internal research team that spends a lot of time thinking about where our models are weak, what data should be produced? How high is the quality of this data?” remarked Sahil Bhaiwala from TechCrunch.
Northcutt, who has taken on the role of CEO at Cleanlab, emphasized that while they received interest from various AI data-labeling firms, they chose Handshake due to its established reputation for recruiting expert professionals, including doctors and scientists, for projects. This connection is expected to amplify the quality of data that Handshake provides to its clients, which includes eight leading AI labs, among them OpenAI. “If you’re going to pick one, you’ll probably want to choose the source over the middleman,” Northcutt noted, highlighting the strategic advantage of working directly with expert data sources.
As the landscape of AI continues to evolve, the integration of Cleanlab’s talent and technology within Handshake could potentially set a new standard in data quality management. The demand for high-caliber data is critical as companies endeavor to refine their AI models, making this acquisition not only timely but potentially impactful in the broader context of the industry. With a strong focus on improving data integrity, Handshake is positioning itself to meet the growing needs of AI developers and researchers, ensuring that the data driving innovation remains accurate and reliable.
See also
AI Study Reveals Generated Faces Indistinguishable from Real Photos, Erodes Trust in Visual Media
Gen AI Revolutionizes Market Research, Transforming $140B Industry Dynamics
Researchers Unlock Light-Based AI Operations for Significant Energy Efficiency Gains
Tempus AI Reports $334M Earnings Surge, Unveils Lymphoma Research Partnership
Iaroslav Argunov Reveals Big Data Methodology Boosting Construction Profits by Billions
