Veritone Finds $50M For AI Software

Newport Beach-based Veritone, which is developing artificial intelligence software used for sentiment analysis for media firms, political campaigns, corporations, and the government, said it has closed on a $50M funding agreement. The funding comes from Acacia Research. According to Veritone, the $50M in working capital includes an initial $20M convertible investment, and contingent investment of $30M based on milestones. Veritone is led by Chad Steelberg, who is best known for selling one of his prior companies, dMarc Broadcasting, to Google. Veritone says it has created an AI platform which can search for objects, faces, license plates, logos, phrases, sentiment, voice identification, translation, in audio and video content.