Founded in 2010, San Francisco-based Quid, which describes it self as, “an artificial intelligence company that accelerates research and insights to address the world’s most complex issues”, has announced that it has raised $39 million in Series D round. The new funding was led by Liberty Interactive Corporation, with participation from ARTIS Ventures, Buchanan Investments, Subtraction Capital, Tiger Partners, Thomas H. Lee Limited Family Partnership II, Quid board member Michael Patsalos-Fox and Quid chairman Charles Lho.
The new funding will allow the company to further expand its product and engineering capabilities and to invest in sales and marketing to bring its technology to a broader set of clients. Quid has built a web platform that enables users to search and process millions of indexed documents and to visually map answers to questions that might previously have required weeks or months of research.
More than 80 blue-chip companies have become Quid customers since the launch of its web platform in January 2014, including management consulting firms, media agencies, and other enterprises. Earlier this month, the Boston Consulting Group, a global management consultancy entered into an enterprise-wide relationship to expand the proven impact of Quid.
In July 2011, the firm had also raised $24 million from Allen Morgan, ARTIS Ventures, Founders Fund, Atomico, Endeavour Vision, SV Angel and others.