AI Integration Platform AI Squared Raises $6M Seed Financing
WASHINGTON, June 27, 2022 -- AI Squared, the low-code AI integration platform, today announced it has raised $6 million Seed financing by global venture capital firm NEA with participation from Ridgeline Partners. The company has launched a cutting-edge, artificial intelligence (AI) platform designed to enable rapid machine learning (ML) model adaptation across today's most critical business web-applications at scale for enterprise companies. The new capital will help drive technology innovation, employment hiring, new product development and expansion within their identified beachhead market.
AI Squared is a low-code AI integration platform with a mission to empower companies to make any existing applications intelligent by simplifying and accelerating the integration of AI into apps, ultimately increasing AI adoption. The platform embeds AI into any existing application and integrates intelligent automation, data-driven insights, and guided recommendations to create an intelligent application that can deliver a more personalized interface, improve productivity, and support decision making. The technology empowers companies to accelerate the adoption of machine learning by removing the many complexities of model integration and dependencies on IT. With AI Squared, data scientists can build, optimize and integrate ML models into business applications easily and efficiently, putting AI-powered insights into the hands of business users in minutes.
"If you're a data scientist or engineer, and you're struggling to quickly integrate machine learning into your web-based business applications due to the complexities of deployment and development, we're here for you," said Benjamin Harvey, CEO. "AI Squared is the easiest way to empower end users to leverage results of AI and ML that are accurate, actionable, relevant, timely and contextualized for in-app decision intelligence."
AI Squared provides an essential solution for AI empowered organizations using a four-factor approach: democratization, augmentation, adaptation, and intelligent automation. The platform empowers analysts and non-technical users to have awareness of and access to AI in order to harness the power of AI inside of applications. Augmentation occurs and yields AI-powered embedded insights, making the apps that teams use the most intelligent through contextualization. Business organizations are offered the option to adapt models. They can customize, personalize, and tune integrations to a specific end-user or organization. Lastly, AI Squared provides intelligent automation, timely invoking of models, chaining multiple models, adjusting models for relevance, and enabling in-workflow process augmentation and transformation.
"Companies across the globe are scrambling to implement AI and ML powered applications to optimize data, automate processes, and drive business value--which can be a complex, timely, and costly transition" said Pete Sonsini, General Partner, NEA. Greg Papadopoulos, Venture Partner, NEA, added: "AI Squared enables businesses to unleash the magic of AI with a low-code, easy-to-integrate platform aimed to make companies smarter, more effective, and more innovative. We're excited to partner with Ben and his team to improve business outcomes by making AI usable and accessible to business and data teams alike."
As a majority minority-owned firm, AI Squared consists of four founders and a staff of 95% African American and Hispanic American descent. AI Squared joins an emerging class of elite minority-owned tech firms creating professional and economic opportunities.
The company is hosting its official brand launch on June 23, at 10:30 am on LinkedIn Live. An introduction of the founders, product showcase, and special guests are scheduled for this event.
Founded in 2021, AI Squared is the platform for imbuing enterprise applications with intelligence, simplifying and accelerating the process of getting AI into the hands of business decision makers. AI Squared is built to bring democratization, augmentation, adaption, and intelligent automation to business-critical AI initiatives by eliminating the complexities of integrating models brought on by legacy model deployment platforms and workflows. Enterprise companies gain the benefit of intelligent automation, data-driven insights, and guided recommendations to create an intelligent application that can deliver a more personalized interface, improve productivity, and support decision making.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's track record of investing includes more than 260 portfolio company IPOs and more than 430 mergers and acquisitions. Visit www.nea.com.
Source: AI Squared