New Funds for Consumer Taste Analyst Qloo

In the US, consumer taste insight platform Qloo has raised $15m in a Series B round of funding, which it will use to expand its technology and build on its sales channels.

Qloo's flagship API uses machine learning and theoretical research in neuroaesthetics to process and correlate more than 575 million primary entities - such as a movie, book, restaurant, song etc - across entertainment, culture, and consumer products to predict consumer taste based on demographics, preferences, cultural entities, metadata and geolocational factors.

This API can be plugged into data platforms such as Snowflake and Tableau, with results populated in seconds to help companies improve product development, media buying and consumer experiences in real time. The firm is the parent company of TasteDive, a cultural recommendation engine and social media community that suggests what to watch, read, listen to and play based on existing individual preferences.

New funding has been led by Eldridge and AXA Venture Partners, bringing the total raised to date to $30m. Alex Elias (pictured), founder and CEO of Qloo, comments: '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. 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'.

Web sites: www.qloo.com and www.tastedive.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.