The company has raised $25 million in a Series C funding round, bringing its total raised to $60 million. With this new capital, Qloo plans to expand its team and pursue strategic acquisitions. The startup is also developing a self-service research tool for marketers and small businesses, and a "multi-person recommendation AI" for use in dating apps. Major customers such as Starbucks, Hershey’s, Michelin, and Netflix are using Qloo's technology to enhance their product experiences.
Key takeaways:
- Qloo, a New York-based startup, uses AI to identify and understand nuanced taste and culture patterns, aiming to uncover consumer behaviors and trends across various sectors.
- The company offers AI-generated correlation data across many culture and entertainment domains, using knowledge of a user's taste in one category to deliver suggestions in another.
- Qloo has raised $25 million in a Series C round, bringing its total raised to $60 million, and plans to expand its team and pursue strategic acquisitions.
- Despite handling a large amount of personal data, Qloo asserts that it does not rely on personally identifiable information and complies with privacy laws including GDPR and the California Consumer Privacy Act.