Funding To Enable Viable to Continue Expediting Analysis of Reams of Data Using A Combination of Its Own Software and OpenAI’s GPT-3
Pioneering AI company Viable, the only qualitative AI company to provide natural language querying of customer feedback, announced today the closing of a $5M fundraise primarily for growth, R&D and new hires. Streamlined Ventures led the round due to its interest in applied AI, with participation from previous investors Craft Ventures and Javelin Venture Partners. The round also includes investment from Merus Capital, GTMFund, STRΛTMINDS, Tempo Ventures, Micheal Liou, Bill Butler and Samvit Ramadurgam.
Using its own technology powered by OpenAI’s GPT-3, Viable is able to analyze huge quantities of data and deliver customer feedback reports that are highly accurate. The new seed round will enable Viable to expand its go-to-market efforts, build even deeper analytical capabilities and grow its team across marketing, sales and engineering.
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Says Viable founder/CEO Dan Erickson, “Creating simple solutions to complex problems is at the core of our mission. We believe that product teams deserve a better user experience than what’s currently available on the market and we have been able to streamline the analysis of reams of qualitative data using GPT-3 and our own proprietary software to ensure faster, more accurate and more readable results, empowering product teams to deliver a better mousetrap. We look forward to the innovative and unique product improvements we are going to be able to make with the capital raised in this round.”
“We are thrilled to support Viable as the company continues to build out much-needed technology for product and business teams,” said Ullas Naik of Streamlined Ventures. “The intersection of NLP and applied AI is a nexus we are really excited about, and we look forward to helping Viable lead the charge.”
Since its founding in 2020, Viable has built strong relationships with customers across industries. Says David Ting, SVP of Engineering, at Nylas, a developer API platform and a Viable customer, “Viable’s AI is able to extract trends in our feedback that we then validated by comparing to our manually generated reports. Viable was spot on and identified a growing issue with authentication that we immediately got to work fixing, complaints about authentication are now down 65%!”
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