Matroid, a Palo Alto, CA-based U.S. machine learning, computer vision (CV) provider, raised $20m in Series B funding.
The round, which brought total funding to $33.5m, was led by Energize Ventures with participation from existing investors New Enterprise Associates (NEA), Intel Capital, and others.
The company plans to use the new funding to accelerate product development and go-to-market expansion in manufacturing, industrial IOT (IIOT), and video security markets.
Led by Reza Zadeh, CEO and Founder, Matroid Matroid is a 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 it in construction, manufacturing, security, media, retail and other industries.