TLDR:
- Coactive Systems, a San Jose-based AI platform, raised $30M in Series B funding.
- The funding round was co-led by Emerson Collective and Cherryrock Capital.
Coactive Systems, a San Jose-based company focused on utilizing AI to make image and video data useful, has raised $30 million in Series B funding at a valuation of $200 million. The round was co-led by Emerson Collective and Cherryrock Capital, with participation from Bessemer Venture Partners, Greycroft, and Andreessen Horowitz. The company, founded in 2021 and led by CEO Cody Coleman, aims to expand its operations, development efforts, and business reach with the funds.
The platform allows users to manage, categorize, and retrieve visual data without the need for metadata or tags. Instead, it leverages multimodal AI to extract context directly from the pixels and audio in the content, making it easier for data, marketing, and product teams to work with visual content. Since its launch in 2021, Coactive has been used by tech-enabled enterprises, including Fortune 500 retailers, media & entertainment companies, and community platforms, to create intelligent applications that extract value from their unstructured visual content.
Overall, the funding will enable Coactive Systems to further develop its technology and expand its presence in the market, offering a unique solution for managing image and video data efficiently and effectively.
