A Denver startup is being scooped up by a stock photography giant as part of a trio of acquisitions valued at $35 million.
AI advertising startup Shotzr was acquired by New York’s Shutterstock in a move that adds computer vision and predictive performance solutions to Shutterstock’s platform. Shotzr was acquired along with Pattern89 and Datasine, and the trio will come together to form a subsidiary of the company named Shutterstock.AI.
Shotzr was founded in 2017 and has built a solution to provide improved customer experiences to marketers through targeted imagery. Marketing professionals using Shotzr have access to a stock photo library that features images from all over the world.
In joining Shutterstock, the combined companies will now offer a content library that includes over 400 million images, videos, music tracks and 3D models.
"With these three acquisitions, Shutterstock.AI will help our customers globally solve the biggest creative challenge they have — discovering and selecting the right content that is relevant, and that resonates with audiences. We want our customers to create with confidence," said Shutterstock CEO Stan Pavlovsky in a statement. "To complement this, Shutterstock.AI will also help new customer segments accelerate the development of artificial intelligence, by unlocking the power of the data associated with our vast content library.”
Prior to its acquisition, Shotzr raised a $3 million funding round in March 2019 led by Access Venture Partners, with additional participation from DVI Equity Partners, Blue Note Ventures, First Mile Ventures, SpringTime Ventures and Rockies Venture Club.
Shotzr was previously named to Colorado Inno's 19 Startups to Watch in 2019.
