- Qortex utilizes AI to effectively target ads on streaming TV and virtual clips.
- This company was among the first to access GFT Venture’s $140 million account, which was introduced in September.
- The technology developed by Qortex impressed a GFT director who had been overseeing Nvidia’s opportunities for two decades.
Qortex, a company specializing in ad targeting for streaming TV, online video, and video games, recently announced a $6 million Series A funding round led by GFT Ventures.
With a focus on expanding its client base in 2024, Qortex plans to use the funds to recruit specialists in company creation. Silicon Road Ventures was one of the participants in this funding round.
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The latest funding round brings Qortex’s total funding to $10 million.
Zack Rosenberg, Director of Qortex, mentioned that approximately two-thirds of the company’s 26 full-time employees are professionals. He aims to achieve a balanced ratio of engineers to go-to-market employees, targeting a 50⁄50 split.
Originally rebranded as CatapultX in 2020, Qortex, according to Rosenberg, possesses systems that can analyze events in a movie frame by frame, enabling a detailed understanding of the content.
Jeff Herbst, a founding and managing partner at GFT Ventures with nearly two decades of experience overseeing Nvidia’s business growth and investments, was impressed by Qortex’s capabilities.
Herbst expressed to Business Insider, “I have been observing the visual search industry for many years, and I found the ingenuity and brilliance of this organization in identifying moving video content to be remarkable.” Alongside Sid Mookerji, Managing Partner at Silicon Road Ventures, and former CW Network CEO Mark Pedowitz, Herbst joined the board of directors.
Qortex’s AI systems analyze videos to comprehend both the context and the audience, utilizing this information to strategically place advertisements.
For instance, Qortex may overlay an Adidas commercial on a scene where a celebrity is shopping for shoes, aligning with the content. Similarly, if the audience shows interest in purchasing a car, Qortex tailors the advertisement accordingly.
Currently serving two active customers who are demand-side platforms, Qortex facilitates online ad purchases for advertisers through its platform. Rosenberg anticipates expanding to include two publishers and one additional ad client by early 2024, leveraging the recent funding to expedite customer acquisition efforts.
Both Rosenberg and Herbst envision broader applications for Qortex’s AI beyond advertising, foreseeing its potential to provide valuable insights to publishers and advertisers for business monitoring and tracking purposes.
Qortex’s contributions extend beyond advertising placements, with capabilities such as assisting publishers in quickly scanning video archives for specific content or identifying compliance issues like strobing lights in videos to meet ADA requirements.
Qortex also made a modest investment in GFT’s $140 million debut fund launched in September. Despite GFT’s investments in approximately 10 companies, Herbst considers Qortex to be among the earliest and most promising ventures.
Explore a selection of pitch deck slides utilized by Qortex to secure its $6 million Series A funding.
Qortex leverages AI for targeted ad placement in streaming TV and online video content.
Qortex leverages AI for targeted ad placement in streaming TV and online video content.
The core innovation of Qortex lies in its AI-powered “Intelligent Video Insights.”
Since its establishment in 2020, the company has garnered significant recognition within the industry.
Qortex aims to establish itself in the AI video analysis market, projected to reach $75.35 billion by 2028.
Committed to supporting advertising entities, Qortex remains dedicated to enhancing industry practices.
Qortex
The foundation of Qortex’s AI video analysis is built upon three key pillars.
According to Qortex, its ad placements seamlessly integrate with video content, align with the narrative, and drive improved outcomes for advertisers.
Activision observed increased click-through rates with Qortex’s overlay ads compared to pre-roll or mid-roll placements.
Qortex
Beyond advertising, Qortex envisions advancing its technological capabilities.
Qortex
Boasting an expert panel comprising former Google and CW Network members, among others, Qortex emphasizes industry expertise.
Boasting an expert panel comprising former Google and CW Network members, among others, Qortex emphasizes industry expertise.
Acting as the intermediary between content owners and ad-buying platforms, Qortex plays a pivotal role in the advertising ecosystem.
Major players in the CTV space like Hulu and Peacock are identified by Qortex as competitors in the $28 billion streaming ad market.
Major players in the CTV space like Hulu and Peacock are identified by Qortex as competitors in the $28 billion streaming ad market.
