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TMCNet:  Qloo Secures $6.5M in Latest Financing Round

[July 12, 2017]

Qloo Secures $6.5M in Latest Financing Round

NEW YORK, July 12, 2017 /PRNewswire/ --�Qloo, the leading cultural artificial intelligence data science platform, announced today it has closed a $6.5m round of financing with participation from AXA Strategic Ventures and Sir Elton John.

Qloo is a data science platform connecting the largest domains of culture and entertainment, including music, film, TV, books, podcasts, consumer products, fashion, dining, and travel. Qloo licenses this intelligence to industry leaders across entertainment, hospitality, consumer packaged goods, online retail, financial services, and automotive.

Qloo has mapped more than 750 billion correlations to understand subjects and people's preferences towards them. This staggering breadth is possible through AI built from state-of-the-art machine learning technologies.

"Data science about culture and entertainment tends to exist only in silos and currently, there is a huge opportunity for systematic exploration into how consumers' aesthetic preferences interact across domains," said Alex Elias, Founder and CEO of Qloo. "The music we listen to can be predictive of the books we read, the films we watch, the products we consume and therestaurants we might prefer. As Qloo continues to examine this phenomenon at scale, this new group of strategic investors will enable us to execute upon our team's vision to be the go-to cultural brain, bridging the gap between the business-to-consumer silos, and making it available to developers and enterprises."

"While everyone recognizes the importance and critical nature of leveraging data, the key element is linking different data sources together to build a full and comprehensive picture," said Manish Agarwal, General Partner at AXA Strategic Ventures. "This investment reflects our confidence in the capacity of Qloo to crack this issue with a strong management team in place."

Sir Elton John: "We're excited about the potential of Qloo's cultural AI. It's been a powerful tool for Rocket Entertainment for brand partnerships across our entertainment company. We feel Qloo could be a driving force in the entertainment industry in years to come."

Sir Elton John and AXA Strategic Ventures join strategic investors and industry leaders including Barry Sternlicht of Starwood Capital, actor Leonardo DiCaprio, Pierre Lagrange and All Mobile Fund.

ABOUT QLOO

Qloo is the Cultural AI, leveraging deep intelligence to connect and predict consumer taste across domains including music, film, consumer products, fashion, hospitality and travel. Qloo's artificial intelligence platform has been a market leader in providing personalization and insights to solve real-world problems for leading companies in the tech, entertainment, publishing, travel, hospitality and CPG sectors. With one of the largest pipelines of proprietary item attribute and preference data, Qloo uses the latest in machine learning methods, and theoretical research in Neuroaesthetics, and makes this intelligence available via a robust API for developers and companies to easily tap into. Learn more at Qloo.com

View original content:http://www.prnewswire.com/news-releases/qloo-secures-65m-in-latest-financing-round-300487026.html

SOURCE Qloo


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