In the future, Catch+Release plans to build an AI search engine specifically for brands. The company's founder, Analisa Goodin, believes that while generative AI tools are not yet capable of meeting the quality demands for images and video assets, they could be used for training data as long as the data is used fairly and creators are compensated. However, she did not disclose who approached the startup for AI training data.
Key takeaways:
- Catch+Release, a startup that helps marketers license user-generated content, has raised an $8 million extension round of funding. The company has been in existence since 2015 and raised a $14 million Series A round in 2021.
- The platform allows brands to discover content posted by creators from different channels, and assigns a “licensability” score to the content. It also helps creators understand the licensing process and charges brands a flat fee for clearance.
- The company is building an AI-powered search engine for brands, which founder Analisa Goodin says currently doesn’t exist for marketers. The search engine aims to help brands find specific content that fits their narrative.
- While the company has been approached for licensing its data for training generative AI work, Goodin said that Catch+Release customers are not currently thinking about using AI for their visual marketing campaigns. She added that the company would participate in such a program as long as the data is being used fairly and creators are compensated.