Total amount raised
$44 Millions
Latest funding date
05/01/2024
Location
Coactive AI has successfully raised $30 million in a Series B funding round, backed by investors including Andreessen Horowitz, Exceptional Capital, and Greycroft. The company specializes in a multimodal AI platform designed to search, organize, and analyze visual content such as images, video, and audio within enterprise applications.
Keep reading to explore the intricacies of Coactive AI's fundraising journey and the investors backing this innovative platform.
What Is Coactive AI?
Coactive AI, founded in 2021 by Cody Coleman and William A. Gaviria Rojas, is headquartered in San Jose, California. The company specializes in a multimodal AI platform that enhances the search, organization, and analysis of visual content, including images, video, and audio.
With a team of 11-50 employees, Coactive AI aims to unlock analytics and insights from unstructured visual data, providing unprecedented ease of use and speed. Their platform automates tagging, labeling, and enables natural language search, making it a valuable tool for enterprise applications.
Coactive AI's solutions are designed to address the challenges of managing large volumes of unstructured visual content, offering features like multimodal intelligence, customization, and scalability. Their technology is used for various applications, including personalization, content moderation, and content discovery.
How Much Funding Has Coactive AI Raised?
- Series B
- Amount Raised: $30M
- Date: May 2024
- Lead Investors: Emerson Collective, Cherryrock Capital
- Valuation at Round: $200 million
- Motivation Behind the Round: To expand operations, development efforts, and business reach.
- Grant
- Date: June 2023
- Lead Investors: Comcast NBCUniversal LIFT Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting specific projects or initiatives.
- Series A
- Amount Raised: $10.4M
- Date: March 2023
- Lead Investors: Andreessen Horowitz, Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and scale operations.
- Seed Round
- Amount Raised: $3.6M
- Date: March 2023
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and attract early customers.
- Seed Round
- Date: June 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and build a foundational team.
Total Amount Raised: $44M. Current Valuation: $200 million.
Key Investors
- Emerson Collective
- Details: Emerson Collective is a social change organization founded by Laurene Powell Jobs. It focuses on education, immigration reform, and social justice.
- Investment Focus Areas: Social change, education, immigration reform, media, journalism.
- Notable Investments: AltSchool, Axios, Ozy Media.
- Cherryrock Capital
- Details: Cherryrock Capital is a venture capital firm that invests in technology startups. They focus on early to growth-stage companies.
- Investment Focus Areas: Technology startups, early to growth-stage companies.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm based in Silicon Valley. It invests in technology companies across various sectors.
- Investment Focus Areas: Technology companies, software, consumer, healthcare.
- Notable Investments: Facebook, Airbnb, Slack.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage companies. It has a strong focus on cloud computing and enterprise technology.
- Investment Focus Areas: Cloud computing, consumer, healthcare, enterprise technology.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in internet and mobile companies. It supports companies from seed to growth stages.
- Investment Focus Areas: Internet companies, mobile companies, seed to growth stages.
- Notable Investments: Venmo, The RealReal, Scopely.
What's Next for Coactive AI?
Coactive AI stands at the cusp of significant growth, driven by the increasing demand for intelligent search and video analytics solutions. With applications spanning Fortune 500 retailers, media companies, and community platforms, the potential for expansion is vast. The recent $30 million Series B funding round, led by Emerson Collective and Cherryrock Capital, underscores the market's confidence in Coactive AI's capabilities.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like Andreessen Horowitz. As Coactive AI continues to scale, it may attract further investments to enhance its platform and broaden its market reach. However, the company must navigate challenges such as competition, scalability, and integration with existing enterprise systems to maintain its growth trajectory.
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