Leading artificial intelligence (AI) and machine learning company VIDROVR has announced that it raised an additional $2.5 million in funding for video robotic process automation (VRPA). The company is focused on changing the way government agencies and major businesses manage and leverage video data.
The company’s newest round of funding was led by Prefix Capital, and it included participation from Outlander Labs and D20 Capital. The company will use the funding to further enhance its multimodal computer vision and VRPA technology, and it will focus on increasing sales and marketing efforts. The company has grown substantially over the last year.
End-to-End Video Analysis Platform
VIDROVR has recently introduced a new end-to-end video analysis platform, which enterprises can use to index and manage live stream and archival video content, as well as access and activate video data. Because of the growth of video content, this task is no longer able to be carried out by just humans.
The company can take data from live television, the internet, social media, and CCTV footage to create real-time actions for specific content. This information can then be turned into strategic reports and real-time workflow automations aligned to customers’ business goals.
One of the reasons VIDROVR is so effective is due to the massive amount of video content constantly being uploaded to the internet, which organizations need to be able to analyze. This is why the company has released VIDROVR AMI and VIDROVR AWARE.
VIDROVR AMI and AWARE
VIDROVR AMI creates multimedia data workflows that make video, audio, and image data from streams and archives actionable so that they can be used to automate business processes. This also provides new insights, and AMI’s AI was created to handle multimedia at scale, such as OTT video, customer service audio, and marketing image assets.
VIDROVR AWARE is used by businesses to modernize logistics and physical operations. It enables organizations to localize people, objects, and events to understand interactions. This provides insights for safety, compliance, and logistics.
Joe Ellis is co-founder and CEO at VIDROVR.
“We have seen firsthand the exponential growth of video content across both the public and private sectors, and with that the wasted cycles and misinformation this brings to market,” said Ellis. “Organizations today need to harness the power of image, video, and audio data so that they are able to accelerate decision making processes that furthers their business. This latest round of funding is a testament to our team’s ability to create game-changing technology that centers on pulling value out of the biggest source of relatable information in the market today, video.”
Owen Van Natta is founder at Prefix Capital.
“The VIDROVR platform converts stored data into real-time awareness,” said Nattal. “Joe and Dan’s products deliver a new class of intelligence every organization needs.”
VIDROVR has witnessed a revenue growth of 450% over the past three years.