Marqo, a San Francisco, CA- and Melbourne, Australia-based vector search company, raised $12.5M in Series A funding.
The round, which brought the total amount to $17.8M, was led by Lightspeed with participation from Blackbird VC, January Capital, and Chronosphere founder and CTO Rob Skillington.
The company intends to use the funds to advance the adoption of its search platform.
Led by CEO Tom Hamer, Marqo is a vector search platform that includes the machine learning capabilities and infrastructure needed to deploy the next generation of AI-powered search. Handling the entire process from vector generation to storage and retrieval, it enables implementation of multimodal, multilingual search through a single API. Fundamental to its approach is a proprietary inference engine which converts unstructured data into highly performant vectors that return hyper-relevant search results in real time.
Marqo counts Redbubble and Temple & Webster as current customers with several developers adopting the platform for end-user search, retrieval-augmented generation, and more.
Commenting on the news, Tom Hamer said: “We saw a need to invent a platform that not only generated superior vector embeddings but also empowered customers to build advanced search experiences within minutes, not months. This funding is validation of our approach and will help us scale up to meet the tremendous demand we’re seeing.”
FinSMEs
13/02/2024