Searchable.ai Raises $4 Million in Additional Seed Funding for Pioneering Conversational Search Technology
Additional funding was led by Susquehanna International Group and Omicron Media with participation from Defy Partners, NextView Ventures, and leading angel investors
Searchable.ai, creators of a new class of “Conversational Search” technology announced that it has closed $4M in additional seed funding led by Susquehanna International Group and Omicron Media with participation by Defy Partners, NextView Ventures, and leading angel investors. The new funding will be used to hire additional scientists and engineers, and further build out the product.
Traditional web search helps people find the right website or webpage. Conversational Search is a new category of search engine technology that allows one to ask questions of information and get the right answer back. Searchable.ai is applying its patent-pending Neural Indexing technology to enable work documents to become deeply searchable and able to respond to your questions no matter the format or where they are stored. Searchable.ai:
- Processes natural language questions to find the answer in any file regardless of format or location
- Anticipates and indexes all possible “answers” and insights in your documents so that this information is available at your fingertips
- Understands context and meaning to surface contextually relevant and personalized results that improve over time
The need for Conversational Search for work information grows each day. There are approximately 1.5 billion websites in the world, but there are over 1 trillion work documents produced each year. These work documents are not universally searchable yet often contain some of the most valuable information to a knowledge worker, team, and enterprise. The problem is only worsening as work information is increasingly fragmented across disparate document formats and local/network/cloud storage locations. According to McKinsey, the average knowledge worker spends 20% of their work week searching for information they need to do their job. As modern teams are increasingly distributed and relying more on collaboration and productivity tools—with information spread across emails, chats, cloud storage, laptops, shared drives, and traditional files—Searchable.ai aims to make it easy to find exactly what they need to be more productive.
“Having worked on search technologies at both Microsoft and Yahoo, I’ve seen the need for better and smarter search that can anticipate a user’s needs and get smarter over time. This is an incredibly challenging problem, further compounded by the fragmentation of workplace information,” says David Ku, former CTO of Microsoft AI & Research. “Searchable.ai is taking an approach and building technology that has potential to impact multiple areas of search to help people achieve more.”
“Our team of machine learning, artificial intelligence, and computer science professionals is dedicated to solving user problems around being able to find the right asset or answer when you need it so you can be super productive,” stated Brian Shin, co-founder & CEO, Searchable.ai. “The big idea is ‘can we activate information so that it can intelligently respond to your questions?’ We have a lot of work to do, but we’re fortunate to have trusted backers, especially during this very trying time in the world.”