Qloo Secures $25M in Series C Funding, Expanding the Footprint of Taste AI Across Industry Leaders From Netflix to Michelin
Funding will further strengthen Qloo’s leadership in commercializing new AI applications and foundational models around consumer taste.
NEW YORK, NEW YORK – February 21, 2024 – Qloo, a pioneer in cultural AI, has secured $25M in Series C funding, highlighting the significant contributions Qloo continues to make to the rapidly evolving AI ecosystem. The round was led by AI Ventures, with participation from AXA Venture Partners, Eldridge, and Moderne Ventures.
Qloo operates a sophisticated AI-powered insights engine composed of highly-accurate behavioral data from consumers around the globe, which includes over half a billion attributes such as consumer brands, music, film, TV, podcasts, dining, travel, and more. Qloo’s proprietary AI models are capable of identifying trillions of connections between these entities, assisting major brands including Netflix, Michelin, Samsung, and JCDecaux in understanding and acting on customers’ tastes and preferences.
Without the use of any personally identifiable information, Qloo helps brands drive revenue through product innovation and enhanced customer engagement. These privacy-friendly advancements are increasingly relevant in the financial services, media and publishing, technology, and automotive sectors where the demand for truthful and privacy-compliant AI-powered answers is skyrocketing.
"Qloo has always been at the forefront of merging cultural knowledge with advanced AI to create a reliable source of truth for insights into consumer tastes and our world," states Alex Elias, Founder and CEO of Qloo."For over a decade, we have been committed to refining our cultural data science, and we are now entering an exhilarating phase of expansion fueled by the growing importance of privacy and the democratization of AI technology.”
With this latest funding, Qloo is poised to broaden access to AI, preparing to introduce an accessible self-service interface later this year to make consumer and taste analytics available to small and mid-sized enterprises and individuals. Qloo excels in making accurate taste predictions even from limited data, marking a significant shift in how AI understands our world and anticipates consumer tastes.
“Qloo has been a pioneer in harnessing the power of AI to help companies and brands understand and predict consumer tastes,” said Liza Benson, Partner at Moderne Ventures. “We’re enthusiastic about supporting their expansion into our industries including real estate, finance, insurance, and more. It’s an exciting phase of growth and we’re proud to be part of Qloo’s journey.”
About Qloo:
Qloo is the leading AI platform on culture and taste preferences, providing completely anonymized consumer taste data and recommendations for leading companies in the tech, entertainment, publishing, retail, travel, hospitality, and CPG sectors. Qloo’s proprietary API predicts consumers' preferences and tastes across over a dozen major categories including music, film, television, podcasts, dining, nightlife, fashion, consumer products, books, and travel. Launched in 2012, Qloo combines the latest in machine learning, theoretical research in Neuroaesthetics, and one of the largest pipelines of detailed taste data—and makes all of this intelligence available through an API. By allowing companies to understand and connect with their target customers more effectively, Qloo helps its clients solve real-world problems such as driving sales, saving money on media buys, choosing real estate locations, and building brands. Qloo is the parent company of TasteDive, a cultural recommendation engine and social community that allows users to discover what to watch, read, listen to, and play based on their existing unique preferences.
Read the original press release here: https://www.prnewswire.com/news-releases/qloo-secures-25m-in-series-c-funding-expanding-the-footprint-of-taste-ai-across-industry-leaders-from-netflix-to-michelin-302065139.html?tc=eml_cleartime