Press

iMerit Announces Record Revenue Growth for FY 2020-2021

April 13, 2021

Data labeling solutions company iMerit sees increased profits nine out of the last 10 quarters

LOS GATOS, CA, April 13, 2021. iMerit, a leading data labeling solutions company, announced record revenue growth during the fiscal year ending March 2021, largely attributed to its unprecedented delivery of data labeling solutions. iMerit saw increased profits nine out of the last 10 quarters. 

During the global COVID-19 pandemic, iMerit expanded its workforce by significantly, reaching more than 4,000 employees – all while quickly pivoting its nine centralized technology centers to a fully distributed workforce. iMerit delivers end-to-end data labeling solutions that fuel its clients’ machine learning and artificial intelligence applications across a wealth of industries including autonomous technology, autonomous vehicles, financial services, GIS, insurtech, medical AI and technology.

“The beginning of COVID-related lockdowns was a moment of truth for iMerit. We supplied thousands of employees with high-end systems, bandwidth and infrastructure to work from home so they could continue to support the most advanced AI applications in the world,” said Radha Ramaswami Basu, iMerit Founder and CEO. “Thanks to our intense customer focus and resilient company culture, we overcame immense challenges this year and delivered our strongest revenue quarter to date from January to March 2021.”

With significant client growth this year, iMerit continues to invest in its workforce, innovative data annotation services and flexible technology to provide its clients with the highest quality data in the industry.

“Our relentless commitment to our clients and heavy investment in our workforce enabled iMerit to overcome many obstacles this year, but we finished stronger than ever,” said iMerit Chief Revenue Officer Jeff Mills. “We’ve reached new highs in client growth and satisfaction, revenue growth and workforce expansion and development. With this momentum, iMerit will continue to lead the way in data labeling solutions that train the machine learning and artificial intelligence applications of the future.”

iMerit started the 2020 calendar year with the announcement of a $20 million Series B funding round led by CDC Group, the UK’s leading publicly-owned impact investor. In December 2020, iMerit acquired MagicLabs, demonstrating its commitment to investing in technology and delivering unparalleled data labeling services. In early 2021, iMerit received the prestigious Great Place to Work Certification.

About iMerit

iMerit is a leading data labeling solutions company providing high quality data across computer vision, natural language processing and content services that power machine learning and artificial intelligence applications for large enterprises. iMerit provides end-to-end data labeling services to Fortune 500 companies in a wide array of industries including agricultural AI, autonomous vehicles, commerce, geospatial, government, financial services, medical AI and technology. iMerit employs more than 4,000 full-time data annotation experts in Bhutan, Europe, India and the United States. Raising $23.5 million in funding to date, iMerit investors are CDC Group, Khosla Impact, Michael and Susan Dell Foundation and Omidyar Network. For more information, visit imerit.net.