Welcome to our dedicated page for Veritone news (Ticker: VERI), a resource for investors and traders seeking the latest updates and insights on Veritone stock.
Veritone, Inc. (symbol: VERI) is a pioneering company specializing in advanced artificial intelligence (AI) computing solutions and services. Founded in 2014, Veritone has swiftly risen to prominence with its proprietary AI-based cognitive computing platform that allows for the seamless processing, transformation, and analysis of unstructured audio and video data. This innovative platform, known as aiWARE, integrates a robust ecosystem of various top-tier cognitive engines, enabling businesses to extract valuable insights from vast amounts of media data.
Veritone's core business revolves around the delivery of its software products and services. The company serves a diverse clientele, including Commercial Enterprises and Government and Regulated Industries. Through its aiWARE platform, Veritone offers a range of services, including content licensing, advertising agency functions, influencer management, and related professional services. These solutions are designed to support clients in deploying and implementing efficient AI-driven strategies.
With a strong presence across multiple continents, including the United States, the United Kingdom, France, Australia, Israel, and India, Veritone's reach and influence are widespread. The company's ability to generate revenue stems from both its Software Products and Services and its Managed Services. This dual revenue stream underscores Veritone's strategic approach to market penetration and growth.
Veritone has garnered significant recognition in the industry, evidenced by accolades such as the Red Herring Top 100 Award, the Edison Awards, and the SIIA Business Technology CODiE Award for Best Native Advertising Platform or Service. These honors highlight the company's commitment to innovation and excellence in AI technology.
Recent developments at Veritone include ongoing enhancements to its aiWARE platform, expanding its capabilities to provide even more profound and actionable intelligence from multimedia data. The company's continuous improvement efforts ensure that it remains at the forefront of the AI industry, delivering cutting-edge solutions to its clients worldwide.
Veritone (NASDAQ: VERI) has announced a partnership with Court TV to manage and monetize their extensive content library dating back to 1991. Through Veritone's AI-powered Digital Media Hub (DMH), Court TV will efficiently organize and provide secure access to its content for affiliate networks, media professionals, and legal institutions. The partnership includes Veritone's Content Licensing service, which will help Court TV generate new revenue by offering its content to filmmakers, documentarians, and podcasters. Court TV's library contains thousands of hours of coverage from major legal cases over the past 30 years, and this collaboration aims to maximize content value through AI technology.
Veritone (NASDAQ: VERI) and Talent Tech Labs have released a joint study on next-generation job advertising strategies, surveying 82 companies across major markets. Key findings reveal that social media has become the dominant job advertising channel, used by 76% of respondents, with LinkedIn leading the platforms. The research shows that while only one-third of companies use programmatic advertising, 62% of those utilize both programmatic and job distribution strategies. Over 75% of organizations plan to maintain or increase job advertising budgets in 2024, focusing on digital strategies. The study also highlights regional differences in recruitment approaches, with Europe favoring traditional job boards and Australia relying heavily on Seek.
Veritone has sold its media agency, Veritone One, to Insignia Capital Group for up to $104 million. The divestiture aims to focus Veritone's strategy as a leading enterprise AI software provider. Key points include:
1. Net proceeds will be used to retire a significant portion of Veritone's term debt and fund future operations.
2. The transaction strengthens Veritone's balance sheet and liquidity.
3. Veritone will concentrate on accelerating the growth of its enterprise AI software and solutions, powered by its aiWARE platform.
4. The company exits the divestiture with over 3,000 enterprise AI & software customers across commercial and public sectors.
5. Insignia Capital Group simultaneously acquired Oxford Road, another leading audio advertising agency.
CEO Ryan Steelberg stated that this move is transformative for Veritone's mission to accelerate growth and focus on enterprise AI, positioning the company to capitalize on the growing demand for AI solutions.
Veritone, Inc. (NASDAQ: VERI) announced that Getac Technology will offer its customers Veritone Redact, an AI-powered software for streamlining the redaction process of video evidence from body-worn cameras, in-car video, interview rooms, and transport cameras. This integration into Getac's Evidence Management System will provide law enforcement agencies with an advanced tool for managing video evidence while ensuring compliance with privacy regulations.
Veritone Redact automatically detects and blurs sensitive information, reducing the time and effort required for manual redaction. This partnership aims to enhance transparency in law enforcement while maintaining privacy standards. The solution will be demonstrated at the International Association of Chiefs of Police (IACP) Annual Conference and Exposition in Boston, October 19-22.
Veritone, Inc. (NASDAQ: VERI) has announced its participation at the International Association of Chiefs of Police conference from October 19 to 22 in Boston. The company will showcase its AI solutions for law enforcement at booth 2201 in the Boston Convention and Exhibition Center. These solutions aim to help public safety agencies accelerate investigations, increase case clearance rates, and enhance public trust, transparency and operational efficiency.
Veritone will demonstrate several key products, including:
- Intelligent Digital Evidence Management System (iDEMS)
- AI-Powered Investigations tool Veritone Illuminate
- Redaction and Privacy Protection Tools
- Person and Vehicle Tracking with AI
- Advanced Transcription and Translation Services
- Suspect Identification tool Veritone IDentify
- Stop Data Collection with Veritone Contact
- HR & Talent Acquisition solutions
These AI-powered solutions are designed to help law enforcement agencies automate workflows, process data more efficiently, and comply with legal requirements while maintaining data security and privacy.
Veritone, Inc. (NASDAQ: VERI) has expanded automated data integrations for its Intelligent Digital Evidence Management System (iDEMS) to include Axon's Evidence.com and Milestone Systems XProtect. iDEMS leverages AI to streamline digital evidence management for law enforcement agencies, offering a central hub for disparate data sets with cognitive and generative AI processing at scale.
The system is platform agnostic and available on secure clouds and on-premises systems. iDEMS now supports data from various sources, including device extraction tools, home security systems, drone manufacturers, body & dash cameras, video management systems, and more. Powered by Veritone's aiWARE™ platform, iDEMS utilizes over 300 AI models across 20+ cognitive categories.
Veritone, Inc. (NASDAQ: VERI) has announced a partnership with Midwest Public Safety to offer AI-powered applications for law enforcement and judicial agencies across the Midwest. This collaboration will bring Veritone's iDEMS solution, including Veritone Investigate and Veritone Redact, to Midwest Public Safety's clients.
The partnership aims to help agencies streamline digital evidence management, accelerate investigations, and improve public safety while enhancing transparency. Veritone Investigate allows for quick searching and discovery of critical evidence using AI technologies like transcription, object detection, and facial recognition. Veritone Redact offers advanced audio and video redaction for public records requests.
This collaboration expands Veritone's reach in the Midwest and reinforces its commitment to providing law enforcement with innovative AI-driven tools for more effective and efficient community service.
Veritone, Inc. (NASDAQ: VERI) has announced the integration of its global job distribution software with Eightfold AI's talent intelligence platform. This collaboration aims to enhance recruitment efficiency by providing a unified, AI-powered solution for job distribution and candidate sourcing. Veritone's software allows organizations to post job openings across over 2,000 job boards in more than 180 countries, optimizing placement for target audiences.
The integration enables Eightfold customers to leverage AI for matching job postings to relevant candidates and engaging them throughout the recruitment cycle. The combined solution offers predictive analytics, advanced candidate matching, and personalized outreach tools. Additionally, Veritone's job distribution solutions provide Office of Federal Contract Compliance Programs (OFCCP) compliance, promoting diversity in talent acquisition.
Veritone (NASDAQ: VERI) will showcase its AI-powered talent acquisition solutions at HR Tech 2024 in Las Vegas from September 24-26. The company will demonstrate how its Veritone Hire suite can help reduce costs and improve efficiency in hiring processes. Alex Fourlis, general manager of Veritone Hire, will present a case study on September 26, highlighting how a global talent team cut recruitment costs by over 80% using Veritone's AI solutions.
At booth 9709, Veritone will exhibit its suite of solutions including:
- Programmatic job advertising with down-funnel reporting
- Job distribution to over 2,000 job boards in 180+ countries
- Diversity and compliance tools
- Media planning and buying support
These AI-driven solutions aim to optimize recruiting strategies and deliver precise, efficient hiring outcomes for talent acquisition teams.
Veritone (NASDAQ: VERI) has announced the deployment of its AI-powered intelligent digital evidence management system, Veritone iDEMS, to assist universities, school campuses, and public safety agencies in modernizing investigations. The system streamlines workflows for audio and video redaction, potentially valuable for handling campus protests and active shooter incidents. iDEMS is based on Veritone Investigate, which serves as a central evidence hub to store, manage, analyze, and share digital evidence files.
The system connects to various data sources, ingests media files, and uses AI models to catalog and tag unstructured data, leading to actionable insights. This technology enhances the ability of institutions like Illinois State University to comply with legal requirements and better protect their communities.
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