Cogniac, a San Jose, California-based provider of enterprise-class AI image and video analysis platform, raised $10M in Series B financing.
Autotech Ventures led the round with participation from Vanedge Capital, Wing Venture Capital, Yellowstone Ventures, The George Kaiser Family Foundation/Energy Innovation Capital.
The company intends to use the funds to hire key staff, expand sales and marketing, and support growth.
Led by Chuck Myers, CEO, Cogniac utilizes AI technology to build inspection workflows, offering enterprise-class AI-based deep learning solutions that automates visual inspection tasks like classifying, detecting, counting and measuring to human level accuracy and beyond.
Since raising its Series A financing led by Wing Venture Capital and Autotech Ventures in 2019, the company has experienced 78% YoY revenue growth and expanded its customer base to include global leaders in automotive, industrial, rail, packaging, logistics, security and defense.