Veritone Company Profile

Background

Veritone, Inc., established in 2014 and headquartered in Irvine, California, is a leading artificial intelligence (AI) technology company. The company specializes in developing AI solutions that transform unstructured data into actionable intelligence, serving industries such as media, government, legal, and energy. Veritone's mission is to harness the power of AI to enhance operational efficiency and decision-making processes across various sectors.

Key Strategic Focus

Veritone's strategic focus centers on its proprietary AI operating system, aiWARE, which orchestrates a diverse array of machine learning models to process and analyze data from multiple sources. This platform is designed to be highly flexible and scalable, allowing businesses to customize it for specific needs, including data extraction, pattern recognition, and predictive analytics. The company's primary markets include media and entertainment, public sector, and energy, where it offers solutions such as media asset management, content compliance, and energy grid optimization.

Financials and Funding

As of 2024, Veritone reported a revenue of $92.6 million, reflecting a 7% decrease from the previous year. The company's software products and services generated $61.1 million, an 11% decline year-over-year, primarily due to reduced consumption across its commercial enterprise customer base. Managed services revenue remained stable at $31.6 million. In October 2024, Veritone divested its media agency, Veritone One, for up to $104 million, including $59.1 million in cash at closing and potential earnouts based on performance. Additionally, in January 2025, the company completed a $20.3 million common stock registered direct offering to support debt repayment and general corporate purposes.

Pipeline Development

Veritone continues to enhance its aiWARE platform and associated applications. In 2024, the company launched the Veritone Data Refinery (VDR) solution, enabling enterprises to transform unstructured data into AI-ready assets. Since its launch, 13 enterprise customers have adopted VDR. The company also expanded its public sector offerings, deploying aiWARE and related applications in multiple Department of Defense environments and achieving FedRAMP deployments for the Department of Justice and other federal agencies.

Technological Platform and Innovation

Veritone's aiWARE platform is a cornerstone of its technological innovation, integrating over 30 cognitive engines to process and analyze unstructured data. The platform supports various applications, including media asset management, content compliance, and energy grid optimization. In 2024, Veritone processed over 10.5 petabytes of data, including more than 58 million hours of video and audio, utilizing over 862 unique AI models. This extensive processing capability underscores the platform's scalability and versatility.

Leadership Team

Ryan S. Steelberg: Co-Founder, Chief Executive Officer, President, and Chairman of the Board.

Mike Zemetra: Chief Financial Officer.

Craig Gatarz: Chief Legal Officer.

Julie Harding: Chief People Officer.

Fleming Meng: Chief Information Officer.

Maria Moore: Chief Marketing Officer.

Ben Xiang: Senior Vice President of Corporate Development & Strategy and General Manager of aiWARE.

Sean King: General Manager of Veritone Media and Entertainment.

Jon Gacek: General Manager of Veritone Public Sector.

Alex Fourlis: General Manager of Veritone Hire.

Leadership Changes

In March 2025, Veritone appointed Francisco Morales, Co-founder and Executive Chairman of 5.11 Tactical, to its Board of Directors. Additionally, Chad Steelberg resigned from the Board to pursue other business and philanthropic endeavors but will continue to serve as a strategic advisor to the company.

Competitor Profile

Market Insights and Dynamics

The AI technology industry is experiencing rapid growth, with increasing adoption across various sectors. Veritone operates in a competitive landscape alongside companies offering AI-driven solutions for data analysis, media management, and enterprise applications.

Competitor Analysis

Key competitors include:

Qlik: Provides data integration and analytics solutions, enabling organizations to harness data for informed decision-making.

Alteryx: Offers data blending and advanced analytics software, focusing on self-service data analytics.

Appian: Specializes in low-code automation platforms, integrating AI to streamline business processes.

SparkCognition: Develops AI solutions for industrial applications, emphasizing predictive analytics and machine learning.

NetBrain: Provides network automation and visibility solutions, leveraging AI for network management.

Strategic Collaborations and Partnerships

Veritone has established partnerships with leading technology providers, including Amazon Web Services, Microsoft Azure, and Google Cloud, to enhance its AI capabilities and infrastructure. These collaborations enable Veritone to offer scalable and robust AI solutions to its clients.

Operational Insights

Veritone's aiWARE platform differentiates the company by offering a flexible and scalable AI operating system that integrates multiple machine learning models. This versatility allows Veritone to cater to diverse industry needs, from media asset management to public sector applications, providing a competitive edge in the AI technology market.

Strategic Opportunities and Future Directions

Looking ahead, Veritone aims to expand its AI solutions across additional industries, leveraging its aiWARE platform to address emerging market needs.