Wirestock Secures $23M Series A Funding
Wirestock has closed a $23 million Series A investment to grow its operations as a supplier of creative data to AI developers. The funding comes at a time when creative platforms recognize the value of their content libraries for AI training. Instead of building their own models, many choose to license data to others.
Originally focused on helping photographers share and sell images through sites like Shutterstock, Wirestock shifted gears in 2023. It now delivers datasets including images, videos, design elements, gaming assets, and 3D models to AI research teams. More than 700,000 artists and designers have joined the platform. They perform various data-related tasks, much like freelancers on sites such as Fiverr.
Pivot and Artist Transition
Co-founder and CEO Mikayel Khachatryan explained that Wirestock communicated openly about the change. Artists could choose to opt out of the data licensing side. Back in 2022, the platform hosted over 100,000 photographers. Khachatryan noted that the majority opted in, though he did not provide exact figures for those becoming AI data providers.
At first, deals involved selling existing content from the library. Demand soon grew for tailored datasets, opening fresh avenues for creators. This shift propelled platform growth, according to Khachatryan. "Initially, a lot of our deals were just selling what we had off the shelf, like our existing library. But then it turned into a lot of custom requests for content and data, and that created new opportunities for creators, and the platform just took off," he said.
To support this, Wirestock retrained staff for data annotation and labeling tasks essential for AI use. It also formed sales and enterprise groups to approach large cloud providers. Efforts expanded to acquire more assets in fields like 3D modeling.
Contributors join via email campaigns and referrals. Photographers, videographers, and illustrators apply online but must complete a free quality test task. Acceptance follows a combination of AI and human checks.
Investors and Financial Milestones
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Nava Ventures led the Series A, with SBVP (co-founded by Sheryl Sandberg), Formula VC, and I2BF Ventures joining. The round boosts Wirestock's total funding to about $26 million. Current annual run-rate revenue stands at $40 million, with $15 million already paid to contributors.
The company supplies multi-modal data to six top foundation model developers, though names remain undisclosed. With 60 employees, Wirestock plans to add staff in research, engineering, and product areas. It is also developing software for AI labs to work together on datasets.
Freddie Martignetti, Nava Ventures founder, praised Wirestock's approach. His firm sought companies advancing data acquisition and processing. "I think Wirestock has a deep understanding of what foundational models and hyperscalers need in terms of multi-modal data to start creating more human-like systems. The cornerstone of our thesis was that multi-modal data will be increasingly important, not just to create images or videos, but for models to complete real-world tasks," Martignetti told TechCrunch.
High Demand in AI Data Market
AI developers urgently seek quality datasets to refine models. Firms like Surge, Scale AI, and Mercor have rapidly scaled to multi-billion valuations on data services. New entrants such as Micro1, Human Archive, and Human Native AI also partner with leading model builders.
Wirestock targets data for creative applications, including image and video generation. It eyes expansion into audio and music. Scale AI, for context, specializes in data labeling and has raised over $1 billion, serving major tech firms. Nava Ventures invests in deep tech, including AI infrastructure.
This funding positions Wirestock to meet rising needs as AI advances toward more versatile, human-like capabilities.