Automated Insights (Ai), a world leader in the production of personalized Big Data narrative content, today announced the closing of $5. 5 million Series B funding round led by Osage Venture Partners
The round included the participation of Samsung Venture Investment Corporation, Associated Press, AOL co-founder Steve Case, former SevOne CEO Mike Phelan, Court Square Ventures, OCA Ventures, IDEA Fund Partners and other existing investors.
‘Automated Insights is an exciting company and we look forward to expanding our partnership,’ said Sang Ahn, Managing Director of the Samsung Open Innovation Center.
Ai’s patented Wordsmith technology is a natural language generation platform that spots patterns, correlations, and insights in large data sets, and then describes them in plain English through narrative reports, just as a data scientist would do.
‘Automated Insights has innovative and patented artificial intelligence software in a very exciting space, and we believe that their natural language generation platform will change across multiple markets,’ said David Drahms of Osage Venture Partners. ‘Ai’s growth and feedback from its strong customer list are impressive. We’re excited to team up with such an experienced management team and exciting strategic investors. ”
As part of this funding, Drahms and Scott Frederick, COO of the company, joined Ai’s Board of Directors.
‘Today, companies rely on business intelligence tools or on in-house solutions that force users to decipher complex dashboards,’ said Robbie Allen, CEO and Founder of Ai. ‘The problem is that charts and graphs don’t tell a story. Wordsmith enables any company to communicate a unique and actionable message to any employee or customer. ”
The company has grown rapidly, with dozens of new customers in a wide range of verticals.
‘We’ve hit a huge untapped market by helping people unlock stories hidden in their data,’ Allen said. ‘This year we’re going to publish over a billion stories and reports for partners like Yahoo!, Edmunds. Come, and soon The Associated Press ”
Associated Press announced on Monday that it would leverage Ai’s Wordsmith technology to produce quarterly earnings reports based on reported financial data from publicly traded companies.
‘The potential of Ai’s technology is evident to strategic investors in this funding round,’ said Jim Kennedy, AP’s Senior Vice President for Strategy and Enterprise Development.
AUTOMATED INSIGHTS, INC
Automated Insights (Ai) transforms Big Data into written reports with the depth of analysis, personality and variability of a human author. In 2014, Ai and its patented Wordsmith platform will produce over 1 billion customized reports for clients like Yahoo!, Associated Press, NFL, and Edmunds. Come on, The Wordsmith platform uses artificial intelligence to dynamically detect patterns and trends in raw data and then describe those findings in plain English. Wordsmith Authors insightful, personalized reports about individual user data on an unprecedented scale and in real time. Automated Insights also offers applications running on its Wordsmith platform, including the recently launched Wordsmith for Marketing, which enables marketing agencies to automate customer reporting. Learn more about http://automatedinsight Come on,
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Automated%20Insights/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
