Chicago, IL (PRWEB) May 19, 2016
Semantify, Inc., based in Chicago, today announced that it had closed a Series A round of capital to accelerate market penetration. The round was led by KGC Capital, joined by KDWC Venture Fund and Bridge Investments, all based in Chicago. It also included some leading technology and venture investors, and most of the existing investors, like Jai Shekhawat (Founder and former CEO of Fieldglass acquired by SAP), Rana Talwar (former CEO of Standard Chartered Bank), Ashoke Dutt, Semantify’s CEO, and it’s cofounder Vishy Dasari.
Chris Capps from KGC Capital will join the board that includes Executive Chairman Shekhawat and Dutt. “We waited to find a truly differentiated technology that creates an unfair sales advantage in the Ad Hoc Discovery and Analytics space, and we found it in Semantify,” said Capps, who along with Dick Kiphart, one of William Blair’s most accomplished bankers, founded KGC Capital. “The team has built a highly automated, disruptive technology, challenging the industry model of having to use expensive consultants to run tools. And we saw several years of great validation of the product’s acceptance in very large enterprises.”
Semantify automates connecting information in real time from multiple silos, and empowers non-technical users to independently gain relevant, contextual, and actionable insights using a free form and friction-free query interface, across both structured and unstructured content. With Semantify, there would be no need to depend on data experts to code queries and blend, curate, index and prepare data or to replicate data in a new database. A new generation self-service enterprise Ad-hoc discovery and analytics platform, it combines natural language processing (NLP), machine learning and advanced semantic modeling capabilities, in a single seamless proprietary platform. This makes it a pioneer in democratization of independent, on demand information access to potentially hundreds of millions of users in the enterprise and e-commerce world.
“We have filled a void in enterprise search and analytics that industry analysts say is the next high growth frontier in business intelligence, already proven ourselves in big data analytics, and will be leveraging the technology to also expand aggressively into the e-commerce and knowledge based web search segments as well”, said Shekhawat.
Vishy Dasari, Semantify’s cofounder and technology leader, said, “Our fundamentally unique approach to developing this technology and its architecture gives it genetic and sustainable competitive advantage. While the Business Intelligence (BI) industry created prolific “canned” reporting capabilities, Semantify’s founders and tech team focused several years ago on empowering the end users to instantly perform ad-hoc discovery and analytics.”
“We have a powerful, function-rich solution for a burning market need,” said Ashoke Dutt, Semantify CEO. “Clients benefit from our rapid trial and deployment cycles, low maintenance and training needs, and can slash consultant and license costs. The funding will primarily be used to scale up delivery, distribution and product packaging resources to meet the high demand. We have created high-impact solutions for Financial Services and Governance Risk and Compliance, and are now expanding to other industries including Healthcare, Insurance, Life Sciences, Manufacturing, and Retail.”
About: Semantify, Inc., is a Delaware incorporated company with its headquarters moving to Chicago, IL, and offices in Illinois, New Jersey, Texas, California, Georgia, the United Kingdom, and India. Semantify enables instant discovery, analytics, and deep insights into data and content for business users through intuitive, iterative natural language queries without having to depend on data experts to code queries and blend, curate, index and prepare data. The company has pioneered a unique platform that seamlessly combines natural language query with semantic technologies.