Cloud-based Artificial Intelligence company Veritone has signed a funding agreement with patent investment group, Acacia Research, for up to $50 million in working capital.

The funding is structured as an initial $20 million convertible investment, with a contingent additional investment of $30 million based on Veritone’s achievement of set milestones, for a total investment consideration of $50 million.

[Image courtesy: Veritone]