Wirestock raises $23 million to supply photos and videos for AI training

In short: Wirestock raised $23 million to grow its business selling creative content, like photos and videos, to companies building AI.

What happened

Wirestock, a company that once helped photographers sell stock images on sites like Shutterstock, said it raised $23 million in Series A funding. The round was led by Nava Ventures, with participation from SBVP, Formula VC, and I2BF Ventures.

Wirestock said it shifted in 2023 to focus on supplying “multi-modal” data to AI labs. Multi-modal data just means different types of content in one package, like images, video, and 3D files (think of it like giving an AI a mixed media library instead of only books). The company says it now provides datasets that include images, videos, design assets, and gaming and 3D content.

The company said it has more than 700,000 creators on its platform. These contributors complete tasks to help collect, label, and organize content so it is useful for training AI systems. Wirestock said creators can apply on its website and must complete an unpaid task as a quality check, and the work is reviewed using a mix of automated checks and human review.

Wirestock’s CEO, Mikayel Khachatryan, said the company was transparent about the shift and let artists opt out. He did not share how many opted out, but said the majority stayed. Wirestock also said it has a $40 million annual revenue run-rate and has paid out $15 million to contributors so far.

Why it matters

Better AI tools often depend on large, well-organized collections of real-world content. Deals like this also raise practical questions for everyday creators about consent, pay, and how their work is used, similar to how musicians think about streaming royalties.

Source: TechCrunch AI