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[Funding News] CA-based Coactive Systems Secures $30Million in Series B Round Funding

Coactive Systems, an AI-powered platform that enables the utilisation of image and video data, has secured $30 million in series B round funding at a $200 million valuation.

Coactive Systems, an AI-powered platform that enables the utilisation of image and video data, has secured $30 million in series B round funding at a $200 million valuation.

The round was co-led by Emerson Collective and Cherryrock Capital, with Bessemer Venture Partners, Greycroft, and previous investor Andreessen Horowitz participating.

The funds will be allocated to the company’s operations, development initiatives, and business expansion. Coactive, an enterprise-grade operating system for visual content, was established in 2021 and is currently led by CEO Cody Coleman.

It utilises AI to enable users to manage, categorise, and retrieve visual data, including images and videos, for a variety of applications, including intelligent search and video analytics. No metadata or tags are necessary.

Read also – [Funding News] CA-based WitnessAI Secures $27.5Million in Series A Round Funding

Rather than tagging/labeling, the system employs multimodal AI in a highly scalable and secure manner to extract context directly from the pixels and audio in content, thereby simplifying the work of data, marketing, and product teams.

Coactive has been utilised by tech-enabled enterprises from Fortune 500 retailers, media & entertainment companies, and community platforms to develop intelligent applications that generate value from their extensive collections of unstructured visual content since its inception last year.

About Coactive AI

At Coactive AI, they are enabling data practitioners and data-driven teams to uncover insights in unstructured image and video data. This visual data is increasingly capturing everyday life, from their online experiences on e-commerce sites and social media to guiding the cars they drive and monitoring the plants we consume.

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