Following its launch in January, Idibon has attracted business from Edmunds.com, Samsung, and the United Nations, among others, as well as global consulting firms. And the startup has worked with text from sources in more than 50 languages. Idibon is not satisfied, though. The new funding it’s announcing today should help it do much more business.
“We’re seeing a lot of just unmet demand,” Rob Munro, Idibon’s chief executive and a co-founder, told VentureBeat in an interview.
Meanwhile other startups offering services for natural-language processing — like AlchemyAPI, Babel Street, Narrative Science, and Synapsify — have also picked up funding recently.
Oftentimes, though, homemade systems represent competition for Idibon, which came out with easy-to-use cloud-based applications at the beginning of this year.
The startup boasts of its ability to go into new languages within 48 hours. Before Samsung reached out, Idibon hadn’t worked with Korean.
“Within two weeks, our machine learning-based approaches were smarter in Korean analytics than any of the Korean-speaking vendors,” Munro said.
Above: The Idibon team.
Idibon started in 2012. To date it has raised $6.9 million.
Altpoint Ventures, Khosla Ventures, and Morningside Ventures led the new round. Samsung and Inventec also participated.
A dozen people now work for the startup full-time in San Francisco, alongside 50 part-time analysts around the globe. The full-time employment should hit 30 within a year, Munro said.
Idibon helps companies understand their language data. Using cutting-edge natural language processing and data science, Idibon takes unstructured data like emails, instant messages and social media, and provides structured answers to k… read more »
Word-parsing wizard Idibon picks up $5.5M
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