At a $200 million valuation, Coactive Systems, an AI-powered platform located in San Jose, California, earned $30 million in Series B investment to make picture and video data meaningful.
Investors
- Bessemer Venture Partners
- Greycroft
- Andreessen Horowitz
- Emerson Collective
- Cherryrock Capital
Use of funds
The money will be used by the firm to expand its commercial reach, operations, and growth initiatives.
About Coactive
Coactive, an enterprise-grade operating system for visual content, was founded in 2021 and is led by CEO Cody Coleman. It uses artificial intelligence (AI) to manage, categorize, and retrieve visual data, such as images and videos, for applications ranging from intelligent search to video analytics. No metadata or tags are needed. The technology uses multimodal AI in a highly scalable and secure manner to extract meaning directly from the pixels and sounds in material, eliminating the need for tagging or labeling and simplifying the tasks of data, marketing, and product teams. Since its release last year, Coactive has been utilized by tech-enabled businesses, including Fortune 500 retailers, media & entertainment firms, and community platforms, to develop intelligent apps that extract value from their enormous amounts of unstructured visual material.
