US-based artificial intelligence (AI) data platform developer Qloo closed a $6.5m round on Wednesday featuring Axa Strategic Ventures, the corporate venture capital arm of insurance group Axa, and musician Elton John.
Founded in 2012, Qloo brings together data pertaining to leisure and entertainment, including music, film, television, books, eating out, fashion and travel. The data is applied to clients who can then correlate it to find ways of marketing to large targeted audiences.
Qloo claims to have used machine learning to log more than 750 billion correlations in order to understand various subjects and people’s preferences towards them.
The company closed a $3m seed round in 2013 featuring venture capital firm Kindler Capital and angel investors including Tommy Thompson, Samih Toukan and Hussam Khoury.
Seed-stage investment fund AllMobile Fund and private investors including actor Leonardo DiCaprio and Barry Sternlicht, founder of hotel group Starwood Hotels, subsequently supplied $4.5m in a June 2016 series A round.