Streem, an AR startup based in Portland, OR, announced today that it had acquired UK-based computer vision and machine learning startup Selerio, Ltd., which spun out of research from the University of Cambridge and a Google fellowship. At the same time, Streem is announcing the close of an additional round of funding from existing and new strategic investors. The company declined to share the amount of the investment. Loup Ventures participated in the round and AI focused fund, Flying Fish Ventures, led the round.
Like Streem, Selerio was selected for the Betaworks VisionCamp accelerator in 2018. The program led to a relationship between the two teams and in addition to Betaworks, they share investors General Catalyst, GGV Capital, and Greycroft. Selerio had also received investment from renowned early-stage investors in the UK Entrepreneur First and TinyVC.
“When I saw the amazing computer vision technology Selerio I knew immediately it could hugely enhance what we’re offering to our customers,” said Streem CEO and co-founder, Ryan (no relation) Fink. For his part, Ghislain Tasse, Selerio’s former CEO, now head of StreemVision, said “As part of Streem, we get to put that intelligence to work in a practical way to solve real consumer and business problems.” The UK team will join the Portland office, which has grown to thirty employees.
“Selerio enables experts, for the first time, to be able to capture information as good — if not better — than if they were on site. This creates massive convenience and value for both the customer, who no longer needs to have a stranger in their home, and for the expert, by eliminating the need to roll a truck,” Fink explained.
Streem’s mission has been to use the power a facetime type network to connect homeowners with home service suppliers to create a “see what I see” camera platform, which saves time for both parties and allows for remote bidding and instructions. Streem’s approach has captured the imagination of big consumer products companies that need to help consumers remotely, like Ikea, which selected Streem for its most recent Bootcamp program, which creates collaboration between the retail giant and startups with the goal of deploying innovative solutions throughout IKEA’s business.
Streem also announced a browser-based version of its platform (formerly only available as a native mobile app) as well as an SDK that will allow partners to build Streem capabilities into their own applications. To debut the new Streem platform, the company was highlighted at Google I/O and Google Marketing Live as part of AR-powered customer care solutions being developed as a leading appliance manufacturer.