USA – QuillBot, a Chicago, IL-based AI provider of writing solution driven by sophisticated AI paraphrasing technology, raised over $4M in seed funding.
The round was led by GSV Ventures and Sierra Ventures with participation from Service Provider Capital. The company intends to use the funds to continue to expand operations and its development efforts. Founded in 2017 by three computer science students with deep expertise in natural language processing (NLP) and led by Rohan Gupta, CEO, QuillBot provides a comprehensive AI writing collaborator that rewrites full paragraphs and refines content. The solution uses natural language understanding to reconstruct the user’s content to improve the clarity of the intended message. The company’s user base trains the algorithm for continuous improvement as the AI learns with the human. The funding will be used to integrate intelligent new capabilities into the existing platform to become an all-in-one writing collaborator. For example, QuillBot will add a summarizer that quickly obtains the most relevant information from an article or online source; additionally, content generation will tap into QuillBot’s understanding of user intent to suggest ways to clearly complete sentences. The company’s team also plans to establish an NLP Lab to conduct research and introduce innovations to the field of NLP. 24/04/2020
