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Lang.ai, which has developed a no-code platform for businesses, closed on a $2 million seed funding round.
The company’s SaaS platform aims to allow business users to structure any free-text data with custom categories built through a drag & drop interface, based on AI-extracted concepts.
Village Global led the financing, which included participation from new and existing backers including Acceleprise, Oceans Ventures, Alumni Ventures Group, 2.12 Angels, GTMFund, and Lorimer Ventures.
Spain-born Jorge Penalva founded Lang.ai in 2018 with the goal of giving any business user the ability “to build enterprise-ready natural language processing models in just minutes.” It was built to give non-engineers a way to automate repetitive tasks in use cases such as customer service and claims processing.
“It can be installed in our cloud or theirs,” Penalva said.
Lang.ai saw its revenue double from the last quarter of 2020 to the first quarter of 2021 and the seed funding was motivated mainly to continue that momentum.
“We’re getting demand in the form of projects with our larger customers, so we needed the funding to be able to support that demand,” Penalva told TechCrunch.
In his previous role of CEO of Séntisis, Penalva realized that processes driven by free-text data remained a blind spot for many companies.
“Today, millions of dollars and hours are invested by companies to manually read and process textual information captured from disparate areas of their business,” he said.
His mission with Lang.ai is to “empower businesses to put AI to work for them, without the technical complexities of building and training custom algorithms.”
Specifically, Penalva said that Lang.ai’s product analyzes a customer’s historical data “in minutes” and suggests AI-extracted concepts to build custom categories through a drag & drop interface. The custom categories are applied in real-time to automate “tedious” tasks such as the manual tagging and routing of support tickets, the processing of insurance claims and the dispatching of field engineers to incoming work order requests.
Put simply, Lang.ai’s goal is to remove the technical burden of implementing AI for a business.
Lang.ai’s community of users (called “Citizen NLP Builders”) consists of mostly non-technical business roles, ranging from customer service operations to marketers, business analysts and UX designers.
Customers include Freshly, Userzoom, Playvox, Spain’s CaixaBank, Yalo Chat and Bancolombia, among others.
Ben Segal, director of infrastructural efficiency at Freshly, described the platform as “so nimble.”
“Out of the box, it took us two days to make automated tagging 15% more reliable than a previous platform that we had had in production for 2 years, with the added benefit that now all of our teams can tap into and exploit our support data,” Segal said. “The marketing team has built workflows to understand key customer moments. Our data and analytics team is super excited about having all these new tags in Snowflake, and it’s crazy how easy it is to use.”
Penalva is proud of the fact that Lang.ai’s engineering team is primarily based in Spain and that he has been able to grow the 10-person company outside of his native country.
“With very few resources, it took us a little over two years to build an enterprise-grade product and find the right set of early customers and investors who are aligned with our vision,” he said. “I moved to the US from Spain to build a global company and this is just the beginning…Lang has always been powered by immigrant hustle, and it has been core to our values since day 1.”
Earlier this week, Huawei CEO Ren Zhengfei spoke rather diplomatically about the company’s hopes of holding talks with the new U.S. administration. The hardware giant is also taking a less conciliatory route, challenging its FCC designation as a national security threat.
The company this week filed a suit with the U.S. Court of Appeals for the Fifth Circuit, calling the FCC ruling, “arbitrary, capricious, and an abuse of discretion and not supported by substantial evidence.”
Questions have swirled around the smartphone maker’s ties to the Chinese government for years, but the U.S. greatly ramped up actions against Huawei during the Trump years. The federal government has taken a number of routes to essentially kneecap the company, including, notably, its addition to the Department of Commerce’s “entity list,” which effectively barred it from working with U.S. companies.
Huawei likely sees a change in U.S. governance as an opportunity to be reevaluated by the powers that be. The company has long denied spying and other security charges. “I would welcome such phone calls and the message is around joint development and shared success,” Ren earlier this week told the media that he was eager to speak with Biden. “The U.S. wants to have economic growth and China wants to have economic growth as well.”
In a statement offered to The Wall Street Journal, however, an FCC spokesperson stayed firm to the 2020 decision, stating, “Last year the FCC issued a final designation identifying Huawei as a national security threat based on a substantial body of evidence developed by the FCC and numerous U.S. national security agencies. We will continue to defend that decision.”
Thus far, the Biden administration hasn’t indicated any plans to soften restrictions on Huawei. Facing opposition from Republican lawmakers, Commerce Secretary nominee Gina Raimondo noted, “I currently have no reason to believe that entities on those lists should not be there. If confirmed, I look forward to a briefing on these entities and others of concern.”
The Biden administration does appear to be reviewing other actions against Chinese companies taken during the Trump administration. Notably, a planned forced sale of TikTok’s U.S. wing has been put on hold while the White House reassesses security concerns.
Source: https://techcrunch.com/2021/02/10/huawei-files-suit-over-security-threat-designation/
The era of social audio 1.0 is in full swing, and while podcasts and Clubhouse have led the way, there are many other audio startups joining the fold. Quilt, an audio social network that focuses on wellness and community, has raised a $3.5 million seed round led by Mayfield Fund, with partner Rishi Garg joining the board, to do just that.
Quilt started as a community platform founded by Ashley Sumner, which let local folks meet up with one another in their own homes. Sumner was on the founding team at NeueHouse and has spent her career building community through physical space. Thousands of Quilt conversations were happening out of peoples’ homes until the pandemic struck in March, resulting in an existential crisis for the startup.
Sumner quickly moved Quilt over to Zoom but soon realized that video chat didn’t quite capture the magic that was happening in person, nor did it prove the right medium to foster the type of conversations that had made Quilt so special.
She worked to develop an audio app that would become the new Quilt 2.0, which went live in the App Store at the end of January.
Quilt allows anyone to start a room for a conversation, dropping a line or two of text to describe what they want to talk about. The app is focused on wellness, breaking rooms into three different categories: spiritual and personal development (with conversations around meditation, astrology, human design, etc.), career and purpose (“it was very important to link purpose to it,” said Sumner, “these aren’t networking events”), and relationships, sex, and family.
Image Credits: Quilt
The platform has put specific focus on balancing the engagement levels of content creators and consumers. According to Quilt, 98 percent of hosts attend other hosts’ conversations and more than 50 percent of Quilters talk during any given conversation.
Garg, who has spent nearly two decades in the emerging media space, talked about how the engagement ratio among creators, consumers and ‘bystanders’ is different for each social platform based on the medium and product choices.
“With YouTube, the famous number was 1 percent create, 9 percent engage, and 90 percent sit back,” said Garg. “At Twitter, interestingly, it was 10 percent, 30 percent, 60 percent. If you look at something like Clubhouse, you’re seeing that parallel already happen. It’s like celebrity central. Part of what got us excited about Quilt was that anyone could just start a room. We really focused in on the pathway between being a consumer to being a creator. Starting or hosting a room is shorter than on any other social media platform.”
He added that the norms within the Quilt community are a big part of what makes that possible, saying there is a hurdle associated with platforms that are more celebrity driven or top heavy. Consumers look at the bar that is set by the community and feel they’re not famous enough, or don’t have a big enough community to contribute, he said.
“Part of the magic of Quilt is that everyone can feel like they have something to offer,” Garg explained. “I think it’s a lot more scalable and a lot less fragile than an ecosystem built entirely on celebrity.”
Retention also seems to be strong in Quilt’s early days, with 80 percent of sign-ups coming back for conversations every week. The company also said that around 60 percent of conversations are started spontaneously, rather than being a planned and promoted ‘event.’
Sumner says that Quilt will never generate revenue through advertising, but rather employ a freemium model.
Existing investors such as Freestyle VC’s Jenny Lefcourt and Upside Partnership’s Kent Goldman and Christina Hunt also participated in this latest round alongside new investors, including Houseparty CEO Sima Sistani, The Mini Fund’s Eros Resmini, former Discord CMO Allison Stoloff, and others.
The Quilt team is currently made up of eight people, 50 percent of whom are female and 25 percent of whom are non-Black people of color. Twenty percent are LGBT and 10 percent are non-binary.
Meet Powder, a French startup that helps you share video clips of your favorite games, follow people with the same interests and interact with them. The company has raised a $14 million Series A round led by Serena.
Powder wants to build the video infrastructure for social gaming. While many communities of gamers already share content on Twitch, Discord and Reddit, there isn’t a dominant mobile app focused on gaming.
You could call it an Instagram or Snapchat for gamers, but the startup has built specific tools that make it similar and yet different from those mainstream social platforms.
Powder can capture video content from any platform. You can record with your console and access your footage by connecting your account with Powder. You can capture videos on your PC using the company’s desktop app. You can also capture videos of mobile games.
The company tries to identify the most relevant events in your favorite game — it can be when you score a goal on Rocket League, when you are the last person standing in Fortnite, etc.
You can then trim your video, add filters, music and stickers and share a video with your followers. Other users can share reactions, add comments and send messages.
Image Credits: Powder
Overall, the company has raised $18 million and is pretty transparent about its funding story. In August 2018, the company raised a $400,000 pre-seed round with Kima Ventures and the co-founders of Zenly Antoine Martin and Alexis Bonillo. In March 2019, General Catalyst, Slow Ventures, Dream Machine, SV Angel, Brian Pokorny, Florian Kahn and Guillaume Luccisano invested $1.5 million.
Around May 2020, the company had to raise a $1.3 million seed extension with Alven Capital, Seraam Invest, Farmers, Maxime Demeure, Jean-Nicolas Vernin and some existing investors. Bpifrance and CNC also put some money in the company. And now, Serena is leading the $14 million Series A round with General Catalyst, Slow Ventures, Alven Capital, Bpifrance’s Digital Venture fund, Secocha Ventures, Turner Novak and Kevin Hartz also participating in today’s round.
As you can see, it’s been a long and winding road. That’s because Powder didn’t come up with its social app for gamers overnight. The company tried many different consumer apps. It would iterate on an idea for a few weeks and then kill the concept if it didn’t pan out. With Powder, the company seems to have found a great distribution mechanism to attract more downloads, leading to more users.
“The idea behind Powder started in December 2019. We had already worked on several projects and none of them really took off. We thought we would create a community first and then a product,” co-founder and CEO Stanislas Coppin told me. He previously co-founded Mindie, a music video app.
Powder started as a Discord server with tens of thousands of members. The team then developed an app that would appeal to that community, the “metaverse camera” as Coppin says. Overall, 1.5 million people have downloaded the iOS app since its launch.
There are three other co-founders, Barthélémy Kiss, Yannis Mangematin and Christian Navelot. There are 18 employees and the company just launched on Android.
Image Credits: Powder
Source: https://techcrunch.com/2021/02/10/powder-raises-14-million-for-its-social-app-for-game-clips/
Managing IoT devices in a large organization can be a messy proposition, especially when many of them aren’t even managed directly by IT and often involve integrating with a number of third-party systems. SecuriThings wants to help with a platform of services to bring that all under control, and today the startup announced a $14 million Series A.
Aleph led the round with participation from existing investor Firstime VC and a number of unnamed angels. The company has raised a total of $17 million, according to Crunchbase data.
Roy Dagan, company CEO and co-founder says that he sees organizations with many different connected devices running on a network and it’s difficult to manage. “We enable organizations to manage IoT devices securely at scale in a consolidated and cost efficient manner,” Dagan told me.
This could include devices like security cameras along with access control systems and building management systems involving thousands — or in some instances, tens of thousands — of devices.”The technology we build, we integrate with management systems, and then we deploy our capabilities which are focused on the edge devices. So that’s how we also find the devices, and then we have these different capabilities running on the edge devices or fetching information from the edge devices,” Dagan explained.
Image Credits: SecuriThings
The company has formed partnerships with a number of key device manufacturers including Microsoft, Convergint Technologies and Johnson Controls, among others. They work with a range of industries including airports, casinos and large corporate campuses.
Aaron Rosenson, general partner at lead investor Aleph, says the company is solving a big problem managing the myriad devices inside large organizations. “Until SecuriThings came along, there were these massive enterprise software categories of automation, orchestration and observability just waiting to be built for IoT,” Rosenson said in a statement. He says that SecuiThings is pulling that all together for its customers.
The company was founded in 2016 originally with the idea of being an IoT security company, and while they still are involved in securing these devices, their ability to communicate with them gives IT much greater visibility and insight and the ability to update and manage them.
Today, the company has 30 employees, and with the new investment it will be doubling that number by the end of the year. While Dagan didn’t cite specific customer numbers, he did say they have dozens of customers with deal sizes of between five and seven figures.
