London AI startup SentiSum raises $700,000 Seed
SentiSum, an artificial intelligence startup, has raised a $700,000 (£540,000) Seed round, with investors including a syndicate of angels from LBA and Angels in The City.
Other investors in the round include 500 Startups, Ascension Ventures and the London Co-Investment Fund.
The London-based firm, which was founded in 2015, has created a customer experience IaaS (Insights as a Service) AI solution for companies in the retail industry and other industries.
“Our ultimate goal is to automate and accelerate business intelligence to make our customers smarter, faster,” said Sharad Khandelwal, SentiSum CEO.
“I’m thrilled to have the support of our investors as we expand beyond retail to help customers in the insurance industry as well,” he added.
Anthony Clarke, LBA managing director, explained that the insurance industry often provides poor customer support. He believes that SentiSum’s AI and NLP capabilities can provide the solution to this problem.
It process high volumes of data in real time to identify key areas of concern for companies and make recommendations for improvement. It can also automate repetitive support processes, with the aim of improving efficiency and, as a result, improving customer satisfaction and reducing costs.
SentiSum is to use this new funding round to further develop its technology, boost sales and expand globally.
The company was part of 500 Startup’s 20th ‘batch’ or accelerator cohort and took part in a 500 Startups live pitch day in San Francisco back in May alongside 43 other companies.