February 4, 2015
The New York based x.ai, a leading artificial intelligence company that schedules meetings over email, recently announced that they have completed a successful Series A funding round. Led by Pritzker Group Venture Capital, along with FirstMark Capital, IA Ventures, Softbank Capital, and CrunchFund, x.ai was able to bring in $9.2 million in funding.
Founded in 2014, x.ai builds and maintains an artificial intelligence powered personal assistant that helps schedule meetings for business customers. The investment marks Pritzker Group’s first ever standalone investment in the Machine Intelligence space.
The customers talk to Amy, or Andrew, Ingram – the AI – like they would any other person. From there all of the tedious emailing back and forth that goes hand in hand with scheduling a meeting is done by the AI script.
“The x.ai team, led by Dennis Mortensen, is filled with hardcore technologists that have created the most elegant solution in the market for a very painful problem,” says Adam Koopersmith, Partner at Pritzker Group Venture Capital. “We’ve all played the ping-pong that’s required to schedule meetings. Amy is the closest thing we’ve seen to a human-like AI that automates the scheduling process behind the scenes.”
According to Koopersmith, the first time they used Amy they were blown away by the UX of the product. It requires no changes in behavior, no additional app downloads, no plug-ins, and no new interfaces to learn.
“We’ve been looking at this space for a long time,” says Koopersmith. “We think the opportunity for consumers and enterprises to leverage machine intelligence is absolutely massive and the timing is now – the technology has advanced enough over the last few years to make ambitious products like x.ai a reality. We look forward to helping many more companies build disruptive products that utilize machine intelligence.”
Did you like this article?
Get more delivered to your inbox just like it!