Coactive Systems, a San Jose, CA-based AI powered platform to make image and video data useful, raised $30m in Series B funding at a $200m valuation.
The round was co-led by Emerson Collective andCherryrock Capital, with participation from Bessemer Venture Partners, Greycroft, and previous investor Andreessen Horowitz.
The company intends to use the funds to expand operations, development efforts, and its business reach.
Founded in 2021 and led by CEO Cody Coleman, Coactive uses AI to allow users to manage, categorize, and retrieve visual data such as images and videos for applications ranging from intelligent search to video analytics – no metadata or tags required, creating an enterprise-grade operating system for visual content. Instead of tagging/labeling, the system leverages multimodal AI in a highly scalable and secure way to pull context directly from the pixels and audio in content, easing the work of data, marketing, and product teams. Since the launch last year, tech-enabled enterprises from Fortune 500 retailers, media & entertainment companies, and community platforms have used Coactive to create intelligent applications that generate value from their massive volumes of unstructured visual content.
FinSMEs
22/05/2024