Qloo Secures $25M To Leverage AI To Redefine Personalized Recommendations!

Let's assume it's a Sunday evening and you're sitting on your couch, thinking what to watch next when suddenly a notification swoops in saying, "You'll love this new K-pop drama with a side of spicy ramen!"

Well, Qloo is all set to turn this imagination into reality by leveraging AI (Artificial Intelligence) to understand the different preferences and choices of viewers. Yeah, you read it right – after acing the generation of images, songs, emails and whatnot; Generative AI (Gen AI) will soon assist binge-watchers align suggestions to their taste!

 

What Is Qloo?

 

• Founded in 2012 by Alex Elias and Jay Alger, Qloo is revolutionizing the way we understand and predict consumer tastes and cultural trends using the power of artificial intelligence. 

• This New York-based startup has just secured a significant $25 million in a Series C funding round led by AI Ventures, bringing its total raised capital to an impressive $60 million.

• Elias, a passionate advocate for culture with a background in law, was inspired to create Qloo after recognizing a lack of comprehensive systems capable of understanding diverse personal tastes without compromising privacy.

• Teaming up with Alger, who brings expertise from leading digital marketing agency Deepend, they set out to fill this gap in the market.

 

How Is Qloo Different?

 

• In a world where the use of AI is increasingly ubiquitous, Qloo stands out for its focus on identifying subtle correlations in human preferences across various domains such as entertainment, fashion, travel, sports and food. 

• Rather than relying on identity-based data, Qloo's advanced AI algorithms analyze behavioral data from millions of consumers worldwide to uncover hidden connections between seemingly unrelated interests.

• Today, Qloo offers companies invaluable insights through its AI-powered platform, which can seamlessly integrate data from various cultural and entertainment domains.

• Despite handling vast amounts of personal data, Qloo prioritizes ethics and privacy, adhering to strict standards and regulations like GDPR (General Data Protection Regulation) and the California Consumer Privacy Act.

• As per Elias, “Qloo operates a sophisticated AI-powered insights engine comprised of … behavioral data from consumers around the globe.” Elias continued, “Qloo’s proprietary AI models are capable of identifying trillions of connections between these entities. With a profound understanding of consumer behavior for over 575 million entities worldwide, our technology enables contextualized personalization and deep insights into the intricate connections behind people’s tastes.”

• The impact of Qloo's technology extends across diverse industries, with major clients like Starbucks, Hershey's, Michelin and Netflix leveraging its capabilities to enhance their products and services.

• From customizing in-store music playlists to tailoring candy assortments and improving content recommendations, Qloo's AI is reshaping consumer experiences across the board.

 

How Is Qloo Preparing For This Move?

 

• With the latest funding round, Qloo is poised for further growth and innovation in the arena of AI-driven personalization. 

• For example, Qloo's technology can translate a user's preferences in one category into personalized recommendations in another, such as applying TV show preferences to gaming choices.

• The company plans to expand its team, invest in research and development and explore strategic acquisitions to strengthen its position in the market.

• Additionally, Qloo aims to introduce new tools, including a multi-person recommendation AI, which could revolutionize industries like dating apps.

Despite the challenges posed by increased compliance requirements, Qloo is experiencing accelerated demand for its services, reflecting the growing importance of AI-driven insights in today's competitive landscape.

Do you think with the help of the latest funding, Qloo will be able to revamp the personalized experience for viewers? Will we see more businesses adopting AI-driven personalization?

Feel free to drop your thoughts in the comments section below!