Scale AI was founded in 2016 by Alexandr Wang and Lucy Guo. When asked about the possibility of an IPO, CEO Wang told Fortune magazine that "there are no current timelines or current plans" but "we are always paying attention to the market." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Scale AI is the developer of an interfacing platform that collects and converts image data into text for the purpose of training artificial intelligence applications. In 2021 the company acquired SiaSearch, a data management platform designed to maximize the effectiveness of machine learning and visual AI programs. Scale AI has received more than $600 million in funding from investors including Empede Capital, Mirza Canada, Raison Asset Management, Index Ventures, and others. A recent round of funding brought in more than $155 million, resulting in a post-money valuation of $7.3 billion.