SparkLabs Ventures Leads $3.4M Series A Investment into Allganize, An AI and Natural Language Understanding for Enterprise Company
SparkLabs Ventures Invests along with other leading VCs in Japan and Korea, Global Brain, Bass Investment, Laguna Investment, and Fast Investment
SEOUL, South Korea, April 30, 2019 /PRNewswire-PRWeb/ -- SparkLabs Ventures, a venture capital arm of SparkLabs Group, has led a $3.4 million Series A round in Allganize, a start-up that provides deep-learning based Natural-Language Understanding (NLU) and conversational AI for enterprise. Joining the round was Global Brain, a leading Japanese venture capital firm, Bass Investment Corp, Laguna Investment, and Fast Investment.
Allganize was founded in 2017 by Changsu Lee, the Founder and CEO. This is Changsu's second startup. His first was 5Rocks, a mobile game analytics service, which was acquired by Tapjoy in 2014. Allganize is headquartered in Silicon Valley with business operations in the United States, South Korea and Japan.
With its deep learning-based, high-performance NLU technology, Allganize enables companies of all sizes to apply AI technology to develop their own AI systems and services. Alli.ai, their conversational AI and chatbot service, offers highly personalized customer experiences by recognizing the complex named entities and user intents of text from the data collected and analyzed from customers' chat and voice messages using their proprietary NLU technology.
Allganize has already proven its technology in the market, securing the business of Persol Process and Technology, one of Japan's largest HR companies. "Allganize's thorough considerations of adopting AI into the business workflow and the excellent UX convinced us to use Alli. By adopting Alli.ai, Persol Process and Technology plans to utilize AI more actively in its operations and expand automatization of its operations in various areas," said Ohtsuka Keishi, RPA manager at Persol Process and Technology.
"AI is growing as a mega-trend in the global market, leading the kind of investments in the U.S. that are reminiscent of the 'dotcom' craze. AI investments in Korea have also grown five-fold within the last year," said Brian Kang, Managing Director of SparkLabs Ventures. "Allganize developed core AI technology in NLU, an area of AI that is especially difficult to apply to enterprise. One target market is customer support, which has many AI chatbot entrants and many failures. We believe Allganize's execution and approach has been game-changing along with a strong customer response, so we decided to invest."
"Business customers have a strong pain point; they spend hours handling repetitive questions from employees and customers. Allganize's conversational AI dramatically reduces this by minimizing the effort of bringing supervised learning into the business," said Changsu Lee, CEO of Allganize. "With this round of investments, we can accelerate the distribution of our unique and results-driven solution for businesses."
SOURCE SparkLabs
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