Quid has built a web platform that enables users to search and process millions of indexed documents and to visually map answers to questions that might previously have required weeks or months of research. For example, a company launching a new product might use Quid to understand market reception to the product's features by searching thousands of blog posts and media reviews, producing a visual mapping of results within a matter of seconds.
"We are proud to have reached this funding milestone with Quid, right on the heels of signing our first multi-million-dollar customers," says Neville Crawley, CEO of Quid. "Quid is empowering organizations to immediately gain insights through machine-driven intelligence, and this funding round will allow us to further expand our product and engineering capabilities and to invest in sales and marketing to bring our technology to a broader set of clients."
The round was led by Liberty Interactive Corporation, with participation from ARTIS Ventures, Buchanan Investments, Subtraction Capital, Tiger Partners, Thomas H. Lee Limited Family Partnership II, together with Quid Board Member Michael Patsalos-Fox and Quid Chairman and founding investor Charles Lho.
"The world is just beginning to explore how artificial intelligence can be applied to advance creativity and innovation in day-to-day business. Quid is at the forefront of that movement," says Bob Goodson, Quid Founder. "Quid has always developed software that is ahead of its time, allowing us to reach today's milestone, and it is what will continue to power our growth."
More than 80 blue-chip companies have become Quid customers since the launch of its web platform in January 2014, including management consulting firms, media agencies, and other leading enterprises. Earlier this month, The Boston Consulting Group a leading global management consultancy, entered into an enterprise-wide relationship in order to expand the proven impact of Quid.
With access to Quid, users have hundreds of thousands of indexed resources — from news articles to business filings, patent applications to blog posts — to aggregate, analyze, and visualize patterns in order to discover insights. The platform has become an essential research tool within marketing and communications research, brand strategy, product development, and technology landscaping.
"Quid is a rare next-generation product that is already building a premium, highly loyal subscription base," says Greg Maffei, President and CEO of Liberty Interactive Corporation. "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." Robin Pringle joins the Quid Board as part of the investment by Liberty Interactive Corporation.
ABOUT QUID
Quid is an artificial intelligence company in San Francisco founded in 2010 to radically enhance how professionals interact with the world's information. The company currently has 60 employees, half of whom are engineers. www.quid.com | Email Contact
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