US-based artificial intelligence-based big data technology developer Quid raised $39m yesterday in a series D round led by media conglomerate Liberty Interactive.
Artis Ventures, Buchanan Investments, Subtraction Capital, Tiger Partners, Thomas Lee Limited Family Partnership II, Quid board member Michael Patsalos-Fox, and chairman and founding investor Charles Lho also participated in the funding.
Quid’s web platform enables companies to search millions of documents and visually maps out correlating data. The software could for example be used by a brand to understand market reception to a product by analysing thousands of reviews and blog posts within seconds.
The company launched a new version of its platform in early 2014, and since then has added some 80 blue-chip companies to its list of clients.
Quid received $10m in a 2011 series C round featuring Infocomm Investments, a venture capital arm of government statutory board Infocomm Development Authority of Singapore, as well as Atomico Ventures, SV Angels, Founders Fund, Endeavour Vision and Charles Lho.
The series C round followed $4m of funding across two previous rounds from Charles Lho, who led the first round, Founders Fund, which led the series B, and additional angel investors, according to TechCrunch.
Greg Maffei, president and chief executive of Liberty Interactive, said: “Companies are seeing the immense value in freeing their strategy teams up from tedious, lengthy, expensive research and analysis, so they can begin solving problems faster.”