VentureBeat July 16, 2024
The trend toward small language models is accelerating as Arcee AI announced its $24M Series A funding only 6 months after announcing its $5.5M seed round in January 2024. The company also announced the launch of Arcee Cloud, a hosted SaaS version of their platform. This new offering complements their existing in-VPC deployment option, Arcee Enterprise.
The new round, led by Emergence Capital, signals growing investor confidence in the potential of smaller, more efficient AI models. “The Series A gives us the resources to bring our solution to the masses via our new cloud platform,” said Arcee AI Co-Founder and CEO Mark McQuade in an exclusive interview with VentureBeat.
Small language models (SLMs) are quickly becoming a go-to...
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