USA – Qortex, a NYC-based Intelligent Video Analytics (IVA) company, raised $10m in funding.
The round was led by GFT Ventures with participation from Silicon Road Ventures. The company plans to use the funds to expand its talent and technology in support of client and market demand.Founded by Zack Rosenberg and James Altschuler, Qortex provides an Intelligent Video Analytics (IVA) platform that allows brands and enterprises to turn video content into meaningful and enriching experiences that drive business outcomes. The patent-pending, AI-enabled, technology makes it possible for users to rapidly and accurately search, categorize, correlate and curate video “moments” at scale – regardless of volume, time, language or context. Today, hundreds of companies are utilizing Qortex for its On-Stream™ “Moments Marketing” capabilities. The capital will also allow the company to introduce its IVA to other markets, allowing those companies to:In conjunction with the investment news, Qortex announced three appointments to its Board of Directors: Jeff Herbst, Co-founding Managing Partner of GFT Ventures who spearheaded the round; Mark Pedowitz, the former Chairman and CEO of the CW Network and Head of Pine Street Entertainment; and Sid Mookerji, Managing Partner and Founder of Silicon Road Ventures.Prior to the new year, Qortex will add several more leaders to its team and enhance its On-Stream product as it prepares to introduce new IVA offerings in 2024.08/12/2023
