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Matroid Completes $20 Million Series B Financing to Expand into Manufacturing and Industrial IOT

Oct 13, 2020•almost 5 years ago

Amount Raised

$20 Million

Round Type

series b

Palo Alto

Description

Matroid, the leading U.S. computer vision (CV) provider and a world leader in machine learning, today announced it has raised $20 million in Series B funding led by Energize Ventures with participation from existing investors New Enterprise Associates (NEA), Intel Capital, and others. The new financing brings total funding to $33.5 million. Building on the enterprise success of its product, Matroid plans to leverage the new funding to accelerate product development and go-to-market expansion in manufacturing, industrial IOT (IIOT), and video security markets

Company Information

Company

Matroid

Location

Palo Alto, California, United States

About

Matroid is an easy-to-use and intuitive studio for creating and deploying detectors (computer vision models) to search visual media for people, behavior, objects, and events -- no programming required. Once a detector is developed, Matroid can search any live stream or recorded video, providing real time notifications when the object of interest has been detected. Customers use Matroid in construction, manufacturing, security, media, retail and other industries. Matroid reduces operating costs associated with manually searching through video footage for an object or a specific person, and increases efficiency, safety, and regulatory compliance. Matroid can be deployed in the cloud or on-premise. www.matroid.com

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