Quid said it has closed a USD39 million Series D financing.
The round was led by Liberty Interactive Corporation, with participation from ARTIS Ventures, Buchanan Investments, Subtraction Capital, Tiger Partners, Thomas H. Lee Limited Family Partnership II, together with Quid Board Member Michael Patsalos-Fox and Quid Chairman and founding investor Charles Lho.
The company said it has built a web platform that enables users to search and process millions of indexed documents and to visually map answers to questions that might previously have required weeks or months of research. For example, a company launching a new product might use Quid to understand market reception to the product´s features by searching thousands of blog posts and media reviews, producing a visual mapping of results within a matter of seconds.
“We are proud to have reached this funding milestone with Quid, right on the heels of signing our first multi-million-dollar customers,” said Neville Crawley, CEO of Quid. “Quid is empowering organizations to immediately gain insights through machine-driven intelligence, and this funding round will allow us to further expand our product and engineering capabilities and to invest in sales and marketing to bring our technology to a broader set of clients.”
More than 80 blue-chip companies have become Quid customers since the launch of its web platform in January 2014, including management consulting firms, media agencies, and other leading enterprises. Earlier this month, The Boston Consulting Group a leading global management consultancy, entered into an enterprise-wide relationship in order to expand the proven impact of Quid.
Quid is an artificial intelligence company in San Francisco founded in 2010 to radically enhance how professionals interact with the world´s information. The company currently has 60 employees, half of whom are engineers.