Facebook Acquires Synthetic Data Startup AI. Reverie

Facebook quietly acquired AI.Reverie, the leading synthetic data platform that TechNexus backed in a 2020 funding round. The platform generates virtually limitless machine learning training data on demand — a capability increasingly critical for training AI at scale.

AI. Reverie , the leading synthetic data platform that can create a virtually limitless supply of machine learning training data on-demand, has been quietly acquired by Facebook. In 2020, TechNexus Venture Collaborative participated in the company's $5.6M equity funding round led by Vulcan Capital after joining the company during an earlier seed round in 2018. Initially reported by Venture Beat , the purchase was made through a holding company called Dolores Acquisition Sub, Inc. The acquisition has been confirmed by a Facebook spokesperson when contacted for comment. AI. Reverie emerged from stealth mode in 2018 and launched its proprietary simulation platform to help businesses improve and scale their machine learning algorithms. The platform leverages synthetic data — data that is artificial computer-generated and can stand in for data obtained from the real world. By simulating the real world, AI. Reverie's virtual world creates synthetic data as good as, and sometimes better than, actual data. Some of the advantages of synthetic data versus real-world data include anonymizing personal data and, most importantly, correcting bias that is often firmly ingrained in the real world. The company was founded by Daeil Kim, Joey Tran, and Paul Walborsky. Kim and Walborsky formerly worked at The New York Times. Kim led projects, including AI-enabled audience acquisition strategy and optimization for NYT Español, while Walborsky led a team focused on the publisher's international expansion. AI.Reverie offered APIs and a platform to advance projects across many industries and applications in Defense, Retail, Smart Cities, Industrials, and Agriculture, including airport simulation, weapons detection, cashier-less shopping, and delivery bots. AI. Reverie's expanding project list and multi-industry use cases were impressive to TechNexus Venture Collaborative and why the company joined in 2018 as an investor. TechNexus has over a decade of experience partnering with large, trad

By Madelyn Rutter at TechNexus Venture Collaborative