New York-based Amenity Analytics, a text analytics platform provider, has raised $7.6 million in Series A funding. The investors included Intel Capital and State of Mind Ventures.
Palo Alto, CA — New York-based Amenity Analytics announced today that Intel Capital has joined its list of Series A investors and that the company was featured at the Intel Capital 2017 CEO Showcase as one of Intel Capital’s new startup investments. Amenity’s $7.6 million Series A round, first announced in August, was headlined by investments from State of Mind Ventures in addition to Intel Capital. That funding has been used to accelerate product development and to scale sales and marketing.
The Amenity Analytics platform uses self-correcting artificial intelligence to create insights from any kind of text. It has already been enlisted by four Fortune 100 Companies and several major hedge funds.
“Being featured at Intel Capital’s CEO Showcase event is an honor, and we are happy for the opportunity to expose our revolutionary natural language processing system to a wider audience,” said Amenity Analytics Co-founder and CEO Nathaniel Storch. “We look forward to showing more companies how actionable, AI-derived insights can increase revenue, lower costs and mitigate risk. Intel’s help in growing Amenity has been crucial and will ensure we continue to modernize analytics for years to come.”
[Amenity Analytics extracts actionable signals from vast amounts of text. Seen above are insights about various organizations, derived from tens of thousands of news articles.]
Amenity Analytics’ unique artificial intelligence system was designed by world renowned machine intelligence scientists, and it has quickly become a top competitor to IBM’s Watson for its ability to unlock insights from vast amounts of text. The system uses highly-accurate natural language processing which requires minimal coding or special information technology support — a significant hidden cost in other AI approaches. Clients have used Amenity’s platform to identify and extract data from regulatory filings, conference call transcripts, news, social media, research reports and more.
“Amenity Analytics is rewriting the rulebook on analytics and democratizing world class Natural Language Processing with its self-correcting AI platform,” said Amir Faintuch, Senior Vice president of Platform Engineering Group at Intel. “Intel is committed to advancing artificial intelligence for business and society by driving breakthrough performance and democratizing access.”
Amenity Analytics was co-founded in 2015 by finance industry veteran Nathaniel Storch, experienced technology executive Hedva Feldman and machine intelligence scientist Prof. Ronen Feldman. Amenity combines advanced text mining principles with developments in machine learning to create even more sophisticated fifth-generation technologies — breakthroughs that can largely be attributed to Prof. Feldman, who has innovated natural language processing technology with two previous companies, 80+ academic works in the field and a landmark book titled Text Mining Handbook: Advanced Approaches in Analyzing Unstructured Data.
About Amenity Analytics:
Founded in 2015 by Nathaniel Storch, Ronen Feldman and Hedva Feldman, Amenity Analytics has built a leading-edge text analytics platform that allows customers to identify actionable signals from unstructured data. Amenity’s open data source architecture and cloud-based computing delivers unmatched speed, scope and scale when providing analytics for clients. The company’s extraction platform combines machine learning, sentiment analysis, and predictive analytics to provide some of the highest levels of accuracy in the industry.
About Intel Capital:
Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.2 billion in 1,500 companies worldwide, and more than 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.