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[Funding alert] NYC-based Qortex Secures $10m in Funding

NYC-based Qortex Secures $10m in Funding. GFT Ventures led the investment, with Silicon Road Ventures joining in. In order to meet customer and market demand, the company intends to use the funds to grow its workforce and technological capabilities.

NYC-based Qortex Secures $10m in Funding. GFT Ventures led the investment, with Silicon Road Ventures joining in. In order to meet customer and market demand, the company intends to use the funds to grow its workforce and technological capabilities.

Qortex, which was founded by Zack Rosenberg and James Altschuler, is a platform for Intelligent Video Analytics (IVA) that enables businesses and brands to transform video material into compelling and enriching experiences that improve business results.

Read also – San Francisco-based Opal Security Secures $22M in Series B Round Funding

Users can quickly and properly search, categorise, correlate, and curate video “moments” at scale using this patent-pending artificial intelligence (AI) technology, regardless of volume, time, language, or context. Nowadays, Qortex’s On-StreamTM is being utilised by hundreds of businesses.

The funding will additionally allow the business to launch its IVA in new areas, giving those businesses the opportunity to: Thoroughly comprehend and utilise IVA to promote more consistent success at scale, Place ads in real-time and align them to particular video moments, such as people’s movements, emotions, or product images from Web Video, CTV, and in-game experiences.

Read also – CA-based OurSky Secures $9.5M in Seed Funding

Promote the optimal video-watching encounters, Make money on all platforms and at all times, adhering to IAB and other industry regulations. Qortex announced three additions to its board of directors along with the investment news: Leading the round was Jeff Herbst, a co-founding managing partner of GFT Ventures.

Sid Mookerji, managing partner and founder of Silicon Road Ventures, and Mark Pedowitz, former head of Pine Street Entertainment and chairman and CEO of the CW Network.

About Qortex

Brands and corporations employ Qortex, an Intelligent Video Analytics (IVA) company, to transform the most important video insights into enriching experiences, activities, and commercial outcomes.

Read also – San Francisco-based Rhythms Raises $26 Million in Seed Funding

The usage of IVA was revolutionised by Qortex’s patent-pending, artificial intelligence (AI) powered, multimodal sensory capabilities, which allowed users to quickly and effectively search, categorise, correlate, and curate video “moments” at scale – regardless of volume, time, language, or context. Currently, Qortex serves hundreds of businesses in many industries.

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