Official Press Release
CamFind Launches In-App Social Feed, View Live Feed Of Pictures Taken Around The World and Save Past Searches
Los Angeles – CamFind, the leader of image recognition technology, announces that it has secured $4.8 million in seed and bridge round funding.
Currently, the company is working with many of the world’s top retailers to allow consumers to be more familiar with products just by snapping a picture. In the near future, the startup’s mobile visual search technology will be preinstalled on mobile devices produced by top cell phone manufacturers.
The funding comes from a number of notable angel investors. Kamran Pourzanjani, co-founder and former CEO of PriceGrabber, which was acquired for $485 million in 2005 and noted at the time as the most popular comparison shopping site, serves as an investor and advisor to the company. Other investors include David Perry, who also became a very active advisor to CamFind, sold his video game streaming company, Gaikai, to Sony in 2012 for $380 million, Paul Hammond, who is the CEO of privately held communications service provider, VirtualPBX, and an anonymous multibillionaire with a net worth well over $10B.
Text-based search has been the leading tool for web exploration over the last two decades, but this is soon to change. In the next four to ten years, billions of searches are expected to be conducted visually. According to a study conducted by MIT, images are easier to digest with the brain processing visuals 60,000 times faster than text, and technology is advancing with this in mind.
“This is an exciting time because there are no other companies taking advantage of visual search on a global scale,” says co-founder and CEO of CamFind, Dominik Mazur. “We first learn how to connect with the world through sight and spoken word interactions. It’s much more natural for us to have that sort of immediate interaction with our environment; written word comes later,” says Mazur. “When you spot a pair of shoes you like or a dog breed that you’re interested in, it’s much easier and more gratifying to snap a photo of it than to try and detail an object through words.” Mazur goes on to point out, “With utilizing speech and visual search, results will be faster, more accurate, and will be able to bridge language barriers.”
CamFind is a Los Angeles-based tech company founded in 2012 by two computer scientists and best friends, Brad Folkens and Dominik Mazur. Its mission is to deliver the most superior visual search solution to people around the world, and to become the global leader in image recognition and mobile visual search.
Dominik Mazur, CEO and Co-Founder
Brad Folkens, CTO and Co-Founder