NEW YORK — Qloo, an artificial intelligence platform for culture and taste preferences, has raised $15 million in Series B funding from Eldridge and AXA Venture Partners. This latest round of funding brings Qloo’s total capital raised to $30 million, and will enable the privacy-centric AI leader to expand its team of data scientists, enrich its technology, and build on its sales channels in order to continue to offer premier insights into global consumer taste for Fortune 500 companies across the globe.
Founded in 2012, Qloo pioneered the predictive algorithm ‘as a service’ model, using AI technology to help brands securely analyze anonymized and encrypted consumer taste data to provide recommendations based on a consumer’s preferences. Demand for Qloo has been accelerating as companies look for privacy centric solutions – in fact, API request volumes across endpoints grew more than 273% year-over-year in Q2.
“Before Qloo, consumer taste was really only examined within the silo of a certain app or service – which made it impossible to model a fuller picture of people’s preferences,” said Alex Elias, Founder and CEO of Qloo. “Qloo is the first AI platform that takes into account all the cross-sections of our preferences – like how our music tastes correlate to our favorite restaurants, or how our favorite clothing brands may lend themselves to a great movie recommendation.”
Qloo’s flagship API works across multiple layers to process and correlate over 575 million primary entities (such as a movie, book, restaurant, song, etc.) across entertainment, culture, and consumer products, giving the most accurate and expansive predictions of consumer taste based on demographics, preferences, cultural entities, metadata, and geolocational factors. Qloo’s API can be plugged directly into leading data platforms such as Snowflake and Tableau, with results populated in only a matter of seconds — making it easy for companies to improve product development, media buying, and consumer experiences in real time.
Qloo currently delivers cultural AI that powers inferences for clients serving over 550 million customers globally in 2022, including industry leaders across media and publishing, entertainment, technology, e-commerce, consumer brands, travel, hospitality, automakers, fashion, financial services, and more.