Scale Raises $325 Million at $7 Billion Valuation

Scale raises $325 million at $7 billion valuation, which is a doubling of the company's valuation in just four months. This comes as the artificial intelligence (AI) firm plans to expand its product line and hire more people. Investment firms Dragoneer, Greenoaks Capital and Tiger Global co-led the Series E funding round. This round also included new investors Wellington Management and Durable Capital. Existing shareholders Coatue, Index, Founders Fund and YC were also included.

Scale uses AI to improve the accuracy of documents processing, categorize products and make logistics paperwork easier to execute. The company also said former Amazon.com Inc executive Jeff Wilke would join as an adviser to its CEO, Alexandr Wang.  

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