Marqo Closes $12.5 Million in Series A
Marqo, a San Francisco, CA-based vector search company, has closed a $12.5 million (USD) Series A funding, bringing its total financing to $17.8 million (USD).
Marqo, a San Francisco, CA-based vector search company, has closed a $12.5 million (USD) Series A funding, bringing its total financing to $17.8 million (USD).
Alongside the Series A funding, Marqo will relocate its headquarters to San Francisco and maintain its presence in London and Australia.
SaaS Investors
The round was led by Lightspeed, with participation from Blackbird VC, January Capital, and Chronosphere founder and CTO Rob Skillington.
Founded in 2018, Lightspeed Ventures is a venture capital firm based in London, United Kingdom. The firm seeks to invest in seed, early, and later-stage startups.
Marqo Use of Funds
The company will use the funding to advance the adoption of its next-generation search platform, which unlocks the value of unstructured data across business-critical applications like end-user search, retrieval-augmented generation, and more.
About Marqo
Marqo is a vector search platform that includes the machine learning capabilities and infrastructure needed to deploy the next generation of AI-powered search. Handling the entire process from vector generation to storage and retrieval, Marqo enables seamless implementation of multimodal, multilingual search through a single API. Fundamental to Marqo’s approach is a proprietary inference engine that converts unstructured data into highly performant vectors that return hyper-relevant search results in real-time. Marqo counts Redbubble and Temple & Webster as current customers with countless developers adopting the platform for end-user search, retrieval-augmented generation, and more. The company is based in San Francisco, Melbourne, and London and is backed by world-class investors like Lightspeed and Blackbird.
Funding Details
Company: Marqo
Raised: $12.5M
Round: Series A
Funding Month: February 2024
Lead Investors: Lightspeed
Additional Investors: Blackbird VC, January Capital, and Chronosphere founder and CTO Rob Skillington
Company Website: https://www.marqo.ai/
Software Category: Vector Search
