TLDR:
- Coactive AI raised $30 million in Series B funding.
- The startup aims to help companies make sense of visual data using AI.
Key Elements
Coactive AI, a startup based in San Jose, has raised $30 million in Series B funding led by Laurene Powell Jobs’ Emerson Collective. This investment quadrupled the startup’s valuation to $200 million. The company is focusing on helping enterprises manage and make sense of the vast amount of visual data they collect.
Coactive AI’s software uses AI models to accurately identify and label images and videos, helping companies search through visual content efficiently. The software also has applications in content moderation, aiding in spotting content that violates trust and safety guidelines. The startup has already attracted big enterprises as customers who find it more cost-effective to use Coactive’s services rather than building similar tools in-house.
Coactive’s cofounder and CEO, Cody Coleman, has a background in computer science and a Ph.D. obtained under the supervision of Matei Zaharia, a cofounder of Databricks. The company’s focus on visual data sets it apart from others that primarily work with text-based data, and its mission also includes tackling bias in AI by creating diverse image datasets.
Conclusion
Coactive AI’s success in raising significant funding and attracting prominent investors highlights the growing interest in enterprise AI tools that can handle visual data efficiently. The company’s focus on visual data differentiation from text-based data and its commitment to addressing bias in AI make it a promising player in the field of AI-driven solutions for businesses.