Verbit is the AI-powered transcription and captioning platform that transcribes speech regardless of accent, domain-specific languages, background noises, echoes, and more. To ensure the accuracy and quality of transcriptions/captions, Verbit has a network of 22,000 human transcribers that validate the technology-produced dictations. AlleyWatch caught up with Tom Livne to learn more about Verbit’s technology and how this funding will help position it to be a leader in the global transcription market, which is more than $300B. Verbit has raised a total of $125M across four rounds and this latest round comes from investors that include Sapphire Ventures led our Series C round, Vertex Ventures, Stripes, HV Ventures, ClalTech, and Vertex Growth.
AI
Roots Automation Raises $3.2M to Make Bots Your Digital Coworkers at Scale
The most agile and innovative companies will rely on AI-powered digital “coworkers” alongside creative humans to enhance productivity and increase profits. Roots Automation has built the first zero integration, self-learning Digital Coworker (pre-trained bot) that can perform a variety of common tasks found in Insurance, Healthcare, and Financial Services roles. Through interactions with human counterparts, the pre-programmed bots increase their capabilities and become more efficient, better at understanding the business, and eventually have the capacity to offset the work of four to eight individuals on average per bot. AlleyWatch caught up with CEO and Cofounder Chaz Perera to learn more about the company, how his time as Chief Transformation Officer at AIG provided the inspiration for the Roots Automation, and the company’s first funding round led by Vestigo Ventures.
Dataiku Nabs Another $100M for its Enterprise AI Platform that Democratizes Data
Dataiku is a leading global enterprise AI company that weaves AI into everyday operations at some of the largest companies like BNP Paribas, GE Aviation, Sephora, and more. Now more than ever before, companies need to harness Enterprise AI as a widespread organizational asset instead of siloing it into a specific team or role. VP of Finance Ed Bush shares more on Dataiku’s mission to make AI ubiquitous for enterprise companies, the company’s future plans, and recent funding round from investors that include Stripes, Tiger Global Management, Battery Ventures, CapitalG, Dawn Capital, FirstMark Capital, and ICONIQ.
OpenAI’s GPT-3 is the Future We’ve Been Waiting For
OpenAI is an artificial intelligence research laboratory started in 2015 by Elon Musk, Sam Altman, Peter Thiel, Reid Hoffman, Marc Benioff, and others. OpenAI’s mission statement: Our mission is to ensure that artificial general intelligence benefits all of humanity. The OpenAI Charter describes the principles that guide us as we execute on our mission. While OpenAI is […]
MeetElise Raises $6.5M for its AI-Powered Assistant for Rentals
COVID has brought contactless to the forefront in situations where technology can replace human interaction. This societal shift has had a significant impact on the real estate industry, forcing it to reexamine how to better serve and communicate in times where in-person interactions are not advisable. MeetElise has built an AI personal assistant that helps leasing agents manage the rental process and respond immediately to prospect leads, questions, and even schedule guided tours. The company’s growth is up 50% during COVID. CEO Minna Song shares more about how the platform is simplifying the rental process with AI, how leasing agents are reclaiming 2-3 hours a day with automation, and the company’s recent funding from investors that include Navitas Capital, AvalonBay Communities, and Equity Residential
UiPath Raises Another $225M to Become NYC’s Newest Decacorn
We couldn’t say first as Infor, WeWork, and MongoDB attained the uber-mythical decacorn status before UiPath. Infor was acquired, WeWork no one is certain as to what the valuation is, and MongoDB currently trades at $12B+ market cap.
Accern Raises $13M for its No-Code AI Solution That Helps The Finance Industry Process Big Data
While working in finance, Accern CEO and Cofounder Kumesh Aroomoogan recognized that as his firm’s data grew, the firm had to hire more and more people; scaling with people versus technology. He saw that he could automate much of this data processing through AI, enabling the team to focus on the higher-value tasks. The product to do this is Accern, a workflow automation solution powered by AI and NLP. The company just closed its Series A round and has now raised a total of $15M in funding.
Immunai Raises $20M to Provide a Complete Understanding of the Immune System With Single Cell Profiling
The human immune system is a complex network made up of cells, proteins, and organs that protect your body. Advances in technology have allowed researchers, scientists, and physicians to understand this sophisticated system like never before. Immunai, cofounded by Noah Solomon, leverages machine learning and artificial intelligence to provide a complete profile of the immune system. The company just launched from stealth with a fresh $20M in funding. Noah shares with us how Immunnaii is building the largest database for immunology.
Kustomer Acquires Reply.ai to Bring Intelligent Chatbot Capabilities to its Customer Service Platform
Another day and another acquisition in NYC Tech. This time, Kustomer, the enterprise-level customer service platform, has agreed to acquire Reply.ai to shore up its automated chat capabilities in the platform. Reply.ai was founded in 2016 and raised a total of $3.7M in funding.
Paige Powers the AI-Driven Diagnosis and Treatment of Cancer at Scale Like Never Before
The technology to diagnose cancer tissue has remained relatively the same for decades, but the power of AI is changing that. Paige is at the forefront of this disruption. Paige’s system uses AI to assist pathologists in accurately detecting new patterns in the cancer tissue, thus providing new insights about the cancer and allowing pathologists to […]
Hugging Face Raises $15M For its Open-Source Natural Language Processing Platform
Natural language processing (NLP) is at the core of breakthrough, AI technologies and has powered apps like SignAll, which is used to translated sign language into text. Hugging Face brings NLP to the mainstream through its open-source framework Transformers that has over 1M installations. Hugging Face’s NLP platform has led to the launch of several […]