Coactive AI, a San Jose-based company that is unlocking analytics and insights from unstructured image and video data, today announced that it has raised $14 million in seed funding. The round was led by Andreessen Horowitz (a16z), with participation from SV Angel, AME Cloud Ventures, Fei-Fei Li, Jure Leskovec, Eli Collins, Cloud All Star Fund, Next Play Capital, and Exceptional Capital.
The company will use the funds to develop its platform, which allows users to extract insights from image and video data without having to write code. Coactive AI’s platform uses a combination of artificial intelligence and machine learning to identify objects, scenes, and activities in images and videos.
“We are excited to announce this funding round, which will allow us to accelerate our mission of unlocking the value of unstructured image and video data,” said Sudish Mogli, CEO and co-founder of Coactive AI. “With this funding, we will be able to build our platform into a powerful tool for businesses and researchers, and we will also be able to grow our team.”
The demand for insights from image and video data is growing rapidly. According to a recent report by IDC, the global market for image and video analytics is expected to reach $34.8 billion by 2025. However, the current state of the market is limited by the fact that most image and video analytics tools require users to write code. Coactive AI’s platform aims to address this challenge by making it easy for anyone to extract insights from image and video data without having to write code.
“We are impressed by Coactive AI’s platform and its potential to revolutionize the way we analyze image and video data,” said Michael Leong, Partner at Andreessen Horowitz. “The company’s platform has the potential to make a significant impact on a wide range of industries, from healthcare to retail to manufacturing.”
This funding round is a significant validation of Coactive AI’s platform and its potential to impact the image and video analytics industry. The company is well-positioned to capitalize on the growing demand for insights from image and video data, and this funding will help it to accelerate its growth and reach.
About Coactive AI
Coactive AI is a San Jose-based company that is unlocking analytics and insights from unstructured image and video data. The company’s platform uses a combination of artificial intelligence and machine learning to identify objects, scenes, and activities in images and videos. Coactive AI was founded in 2021 by Sudish Mogli, a former Google engineer, and Bob Rogers, a former Microsoft engineer.
About Andreessen Horowitz (a16z)
Andreessen Horowitz (a16z) is a venture capital firm that invests in early-stage technology companies. The firm has over $70 billion in assets under management and has invested in over 400 companies, including Facebook, Twitter, and Airbnb. a16z was founded in 2004 and is headquartered in Menlo Park, California.
- Coactive AI’s platform is currently in beta and is available to a limited number of users.
- The company plans to launch a public beta in the coming months.
- Coactive AI is looking for partners to help it bring its platform to market. If you are interested in partnering with Coactive AI, you can learn more on the company’s website.