Company Profile: Qsic
Last Updateded 20 October 2024
Qsic, founded in 2012 by Nick Larkins and Matt Elsley in Melbourne, Australia, is a leader in AI-powered experience platforms, focusing on the retail and quick-service restaurant industries.
The company's core offering is an AI-driven audio platform designed to enhance in-store experiences by managing and optimising audio content across retail networks. This technology allows retailers to curate music, deliver targeted audio messaging, and run advertising campaigns that significantly impact customer engagement and sales. Qsic's solutions are particularly notable for their ability to automate and streamline the management of in-store audio, minimising the need for staff intervention while maximising impact.
As of May 2021, Qsic reached over 26 million unique visitors a month. Recent figures indicate that the number of retail locations using Qsic's platform has tripled over the past year, with significant growth in North America.
Financially, Qsic raised $3.1 million USD in a Series A round led by Carthona Capital in May 2021. Total funding amounts may vary, with some reports indicating a total of $4 million USD raised.
Qsic developed a proprietary generative AI model, Lucy, for creating custom audio ad content at scale, including on-demand voiceovers. Lucy dynamically creates and localises ad content in real-time, leveraging retailer data to include details like local pricing, inventory, and weather conditions.
Qsic reported over 220% year-over-year growth as of August 2024.
The leadership team, led by founders Matt Elsley and Nick Larkins, has successfully guided the company from its inception to its current position as a market leader in AOOH retail media. Qsic is actively expanding its presence in North America, having recently opened a new office in Dallas to support its growth initiatives.
The increasing demand for personalised, data-driven retail experiences and with expansion into new markets and retail sectors the future looks bright.
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