Hugging Face closed a new round of funding. A $100 million Series C round has a big valuation. Hugging Face is now worth $2 billion after today's funding round.
Sequoia and Coatue are investing in the company for the first time. Existing investors participated once again. The investors include Addition, AIX Venture, AIX Capital, Kevin Durant, and Olivier Pomel.
Hugging Face has had an interesting evolution. The startup was focused on a consumer app when I first covered it. It looked like another messaging app. There was no one on the other side of the conversation as it was a chatbot app for bored teenagers.
The company kept iterating on its natural language processing technology despite the consumer bet not paying off. Hugging Face released the Transformers library on the platform and immediately attracted a lot of attention.
You can use popular NLP models, such as BERT, GPT-2, T5 or DistilBERT, to manipulate text with Transformers. You can classify text, extract information, answer questions, summarize text, generate text, etc.
Hugging Face became the main repository for all things related to machine learning models because of the success of this libary. You can browse thousands of pre-trained machine-learning models, participate in the developer community with your own model, download datasets and more on the company's website.
Hugging Face is building a repository of machine learning. It is a community-driven platform with a lot of repositories. Developers can create, discover and collaborate on models.
Hugging Face also offers hosted services, such as the InferenceAPI that lets you use thousands of models via a programming interface, and the ability to train your model.
The company plans to do more with today's funding round. Hugging Face is being used in 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884, so it's not time to pivot again.
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