Surge AI plans to raise $1 billion in capital
Surge AI—a data-labeling startup launched by ex-Google and Meta engineer Edwin Chen—is reportedly planning to raise up to $1 billion in its first funding round, targeting a hefty $15 billion valuation.
Part of the plan is to give employees a chance to cash out some of their shares.
Surge AI powers big names like Google, OpenAI, and Anthropic by providing top-tier data-labeling services.
Their team of skilled contractors builds high-quality datasets that help train smarter AI models—think better chatbots and search engines—by focusing on accuracy and real human feedback.
Surge AI outpaced rival Scale AI in revenue last year
Last year, Surge AI pulled in over $1 billion in revenue, outpacing rival Scale AI's $870 million.
After Meta invested heavily in Scale AI, some customers started looking for alternatives due to data privacy concerns—giving Surge AI an extra edge in the market.