Leonardo DiCaprio’s AI firm, Qloo, recently received a $20 million investment from Bluestone Equity Partners. Now, Qloo’s total investment soars up to $45 million.
Founded in 2012, Qloo makes use of more than 575 million data points and an impressive 10 trillion consumer signals. The company specializes in predicting global consumer behavior.
Prior to this investment, funding had been secured from investors such as AI Ventures, Venture Partners, and celebrities including Leonardo DiCaprio and Elton John. This additional boost further develops the company’s financial stability and bolsters their consumer insight capabilities. The funding also highlights the firm’s impressive progress in predicting global customer preferences since their inception.
Qloo CEO and Co-founder, Alex Elias, noted that the new funding will be substantial for the launch of a self-service interface in the third quarter.
Qloo’s advancement through $20M funding boost
Elias hinted that this would help to increase ticket and merchandise sales at sports and live events. Further, this funding shows the firm’s commitment to transform these industries. Elias believes the use of AI opens up opportunities to increase revenue in the mentioned sectors.
Looking back at 2019, Qloo purchased TasteDive, a cultural recommendation platform, enhancing its services even further. This newly acquired technology has proven beneficial for companies such as Epic Pictures and fitness leader Equinox, who both utilize Qloo’s technology for making strategic decisions based on consumer data.
Bluestone Equity Partners, now holding a minority share in Qloo, is a company with previous success in investments targeting the sports, media, and entertainment industries. The company, founded by former VP and general counsel for NBA’s development league, Bobby Sharma, is known for strategic growth initiatives. Their investment in Qloo signifies a strategic move into the SPAC business, a significant milestone for the firm.
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