Artificial Intelligence Company Receives 2 Million Dollars Series A
SUNNYVALE, Calif., April 17, 2014-- Inbenta, the Semantic Search Engine provider, announces it has closed a $2M Series A funding from a group of investors led by “Amérigo Chile Early Stage and Growth”. Amerigo is an international network of technological Venture Capital funds which forms part of Telefónica's commitment to boosting technological innovation around the world. Inbenta will use the funds to continue to scale out their A.I. based Semantic Search platform for enterprise customer care solutions while expanding operations worldwide.
“We are committed to ensuring that people who visit e-commerce websites they are able to interact with intelligent machines which results in better customer service, and creates a future where people have no wait times on customer support and a more real world experience online,” said Jordi Torras, CEO & Co-Founder of Inbenta. “We are pleased to work with Amerigo to accelerate our growth and to expand our technology and presence online.”
“We’re excited to join this company to help them grow operations in Latin America. We‘re confident that the exceptional team behind inbenta combined with their cutting edge technology will transform the industry," said Oliver Flögel, Partner at InverSur Capital.
Inbenta is a Semantic Search engine company with operations in United States, Europe (France and Spain) and South America (Brazil and Chile). With more than 100 clients, including Groupon Ticketmaster, and Telefonica, Inbenta manages the searchability in websites with customer service platforms. The AI based Semantic Search Engine Technology offers interactive features like Virtual Assistants using Avatars. “We are creating our own version of Her,” said Jordi Torras who was referring to a movie released this year that shares unique similarities to Inbenta’s platform and technology direction.
Today, most websites use the current form of search engine technology which focuses on keywords but offers less relevance in their results but by up to 80%. Most companies rely heavily on customer support centers as a back up but when the customer base and business grows it becomes more expensive to scale. Inbenta’s search engine technology is able to respond to the majority of search engine queries as well as the majority of tickets coming from contacting the customer support center through its search engine technology and artificial intelligence based tools it’s linked to.
“This Semantic Search Engine dramatically changes the customer experience for large scale companies. Our mission is simple, give people what they want. Answers that are fast, personal and provide results. You can’t create that with a common machine that uses simple commands to retrieve information. Our Avatar, Victoria is state of the art and when launched this year it will represent the next era for search engine technology because it learns, and adapts to the way people communicate. This helps people so much more when they are on a site because they can just ask rather than spend time sifting through keyword based FAQ results. Amerigo's investment will allow our Victoria, which is becoming a universal name in the office for our unique search engine to become much more personable and real.“ Says, Jordi.
Inbenta found a solution in the search engine dilemma that Google, Facebook, Yahoo and many other tech giants are seeking and providing their technology to the Enterprise community. Inbenta manages over 100 clients globally and is the leader in this type of technology.
Revenue is generated by monetizing their client’s customer search requests. Once a clients content is integrated into Inbenta’s software over a few weeks it provides all answer requests for users, and customer support centers connected. Once connected Inbenta charges per search request.
About Inbenta: Inbenta is a company specialized in Artificial Intelligence and Natural Language Processing, with offices in USA, France, Spain and Brazil. It manages over 100 clients worldwide including Groupon, Ticketmaster, and Zendesk. It offers Semantic Search technologies connected to customer support features such as search engines, virtual assistants, Avatars, Dynamic FAQS and several more Natural Language processing products.
About Amerigo: Amérigo is an international network of technological Venture Capital funds which forms part of Telefónica's commitment to boosting technological innovation around the world. The Amérigo Funds are aimed at projects at the expansion phase. The project has been initially launched in four countries (Spain, Brazil, Chile, Colombia) thus laying the bases for a global network for investment in innovation to boost companies and their new digital services around the world. The firm manages 41 accounts totaling an estimated $6.2 Million of assets under management.
Venture Capital Database
Venture Capital Deals Spreadsheet