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About Symbl.ai
Industries
Enterprise Software
AI & Machine Learning
Company Size
11-50
Company Stage
Series A
Total Funding
$23M
Headquarters
Seattle, Washington
Founded
2018
Overview
Symbl.ai specializes in artificial intelligence that processes and understands natural human conversations. The company provides tools and solutions that help businesses gain insights from spoken interactions, primarily targeting developers, technology companies, and enterprises. Symbl.ai operates on a platform-as-a-service (PaaS) model, allowing clients to access its AI technology via the cloud and pay based on usage, which offers scalability for both small and large clients. The company generates revenue through subscription fees, usage-based pricing, and custom solutions for larger clients. By offering a robust API, Symbl.ai enables developers to integrate conversational intelligence into their applications, improving user experiences. The company aims to transform how businesses understand and interact with human conversations, backed by prominent investors and partnerships with leading technology firms.
Simplify's Take
What believers are saying
- Partnership with Recall.ai expands Symbl.ai's reach in voice and video applications.
- Growing NLU market demand presents opportunities for Symbl.ai's service expansion.
- Flying Fish's investment expansion could provide additional financial backing for Symbl.ai.
What critics are saying
- Major tech companies like Microsoft and Google pose competitive threats to Symbl.ai.
- Closure of Techstars Seattle limits local networking and growth opportunities.
- Competitive fundraising environment may impact Symbl.ai's future funding rounds.
What makes Symbl.ai unique
- Symbl.ai offers real-time conversational intelligence analysis, unique in the AI market.
- The platform's PaaS model provides scalable, flexible AI solutions for diverse clients.
- Symbl.ai's robust API enables seamless integration of conversational intelligence into applications.
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Funding
Total Funding
$23M
Above
Industry Average
Funded Over
3 Rounds
Industry standards
Benefits
Health Insurance
Life Insurance
Disability Insurance
401(k) Retirement Plan
401(k) Company Match
Professional Development Budget
Paid Vacation
Paid Sick Leave
Parental Leave
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 5%1 year growth
↑ 15%2 year growth
↑ 19%Flying Fish managing partners, from left: Geoff Harris, Heather Redman, and Frank Chang. (Flying Fish Photo)Flying Fish is looking for new opportunities.The Seattle-based venture capital firm is raising money for a new “Flying Fish Opportunity Fund I,” according to a new SEC filing. The firm declined to comment when reached by GeekWire on Thursday.Flying Fish launched in 2017 with a thesis focused on AI, machine learning, and robotics. It initially focused on startups across the Pacific Northwest but broadened its geographic reach to Canada and elsewhere after raising $70 million for its second fund in 2022.The “Opportunity Fund” could indicate that Flying Fish wants more capital to make follow-on investments in existing portfolio companies. It’s listed as a $25 million offering on the filing. Flying Fish raised $37 million for its first fund in 2018.A separate SEC filing in July revealed that Flying Fish is raising for a third fund
GeekWire’s in-depth startup coverage tells the stories of the Pacific Northwest entrepreneurial scene.Flying Fish managing partners, from left: Geoff Harris, Heather Redman, and Frank Chang. (Flying Fish Photo)Flying Fish, the Seattle-based venture capital firm founded in 2016, is raising a new fund.GeekWire spotted a new SEC filing on Friday revealing “Flying Fish Fund III.”The firm declined to comment in response to an inquiry.Flying Fish raised $70 million for its second fund in 2022, and raised $37 million for its first fund. It invests in early stage machine learning, AI, and robotics startups. The firm initially backed companies based in the Pacific Northwest but expanded its geographic reach after raising the second fund.“We still have a major emphasis here in our own backyard, and are big believers in this ecosystem,” Heather Redman, managing partner at Flying Fish, said at a Technology Alliance event in Seattle in June.The Flying Fish portfolio includes Symbl.ai, Vouched, Phaidra, Orbital Materials, TrojAI, Groundlight AI, Clarity, and other startups.“We tend to invest in things that are very highly centered around AI and require a lot of AI expertise,” Redman said during a panel discussion in Bellevue last month.Flying Fish invests in AI startups that build both platform technologies and vertical applications. It is also eyeing startups developing apps and services around reinforcement learning, according to Redman’s comments at the Technology Alliance event.AI startups are gobbling a big chunk of funding these days, raising nearly a third of all dollars during the second quarter, according to CBInsights.Venture capital firms, meanwhile, are raising far less money for their own funds compared to the 2021-22 boom times, driven in part by a lack of startup exits in recent years.The fundraising environment for venture capital firms “has become increasingly competitive,” wrote Ginger Chambless, head of research for commercial banking at JP Morgan, in a recent PitchBook-NVCA report.“LPs are becoming more selective, focusing on funds with a strong track record, clear differentiation, and robust value-add strategies,” Chambless wrote.A number of other Seattle-area venture firms have raised new funds over the past three years, including Madrona, Fuse, PSL Ventures, Trilogy Equity Partners, Founders’ Co-op, Unlock Venture Partners, and Graham & Walker.Flying Fish is led by Redman along with fellow managing partners Geoff Harris and Frank Chang.The Washington state Department of Commerce recently announced that it is participating as a Flying Fish investor through its Washington Small Business Credit Initiative
Browse in-depth TOC on "Natural Language Understanding (NLU) Market"400 – Tables70 - Figures350 – PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=204151413Scope of the ReportReport Metrics Details Market size available for years 2019–2029 Base year considered 2023 Forecast period 2024–2019 Forecast units USD Billion Segments Covered Offering (Solutions [Platform and Software tools & frameworks], Solutions by Deployment Mode [Cloud and On-premises] and Services [Professional Services {Training & Consulting, System Integration & Implementation, Support & Maintenance} and Managed Services]), Type (Rule-Based, Statistical, Hybrid), Application (Chatbots & Virtual Assistants, Customer Experience Management, Text Analysis, Sentiment analysis, IVR & message routing, Data capture, Machine translation and Other Applications) and Verticals (BFSI, Healthcare & Life Sciences, Retail & Ecommerce, IT&ITeS, Transportation & logistics, Government & Public sector, Media & Entertainment, Manufacturing, Telecommunication and Other verticals [Travel & Hospitality, Automotive, Energy & Utilities and Education]). Geographies covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America Companies covered Key players are Microsoft (US), Google (US), IBM (US), AWS (US), Meta (US), SAS Institute, Oracle (US), Salesforce (US), OpenAI (US), SoundHound AI (US), IQVIA (US), LivePerson (US), Haptik (India), Kapiche (Australia), Rasa (US), MindMeld (US), Hugging Face (US), Conversica (US), Expert.ai (Italy), Verbio Technologies (Spain), Wolfram (US), Cortical.io (Austria), Omilia (Cyprus), Cognigy (Germany), Plasticity (US), Afforai (US), Tune AI (US), Vebrit.ai (US), Synthesys (UK), Picovoice (Canada), Symbl.ai (US), Tisane Labs (Singapore), Prosa.ai (Indonesia), Abacus.AI (US), Forethought (US).By offering, the services segment to account for higher CAGR during the forecast period.The demand for services in the NLU market is rapidly increasing, making it the fastest-growing segment. These services include consulting, training, system integration and implementation, and support & maintenance, all aimed at helping organizations effectively deploy NLU solutions. As businesses look to customize NLU solutions to their unique requirements, integrate them with current systems, and enhance their performance, specialized services are becoming essential. Furthermore, with the continuous growth in unstructured data complexity, there is a rising need for services that can assist in data preprocessing, annotation, and quality assurance to maintain the accuracy and reliability of NLU models.Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=204151413By Vertical, BFSI is expected to hold the largest market size for the year 2024.The vertical market in the Natural Language Understanding (NLU) Market is set to be dominated by the Banking, Financial Services, and Insurance (BFSI) sector. This sector holds the largest share due to various factors specific to the BFSI industry
The tenth Techstars Seattle cohort gathers after Demo Day in 2019 at Seattle’s Museum of History and Industry. (GeekWire File Photo / Taylor Soper)Techstars Seattle is done. What does it mean for the city’s startup ecosystem?That’s a question on our minds in the immediate aftermath of the surprising news this week from Techstars to shut down its Seattle program.“It’s a serious loss for our remarkable community,” Isaac Kato, former Techstars Seattle managing director, told GeekWire. More than 160 startups participated in the core Techstars Seattle accelerator since it launched in 2010. The program, based at the University of Washington’s Startup Hall, served as a key hub for budding startup founders who needed mentorship and capital as they built the next great companies. It also drew entrepreneurs and investors to Seattle, bolstering the city’s tech muscle
DUBLIN, Jan. 16, 2024 /PRNewswire/ -- The "Amazon.com - Digital transformation strategies" company profile has been added to ResearchAndMarkets.com's offering.This report provides insight into Amazon's tech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.Amazon.com Inc (Amazon) is an online retailer and web services provider. The company retails a variety of products including apparel, auto & industrial items, beauty & health products, electronics, groceries, books, games, jewelry, kids and baby products, movies, music, sports goods, toys, and tools among others through online platforms and brick-and-mortar stores. The company's platforms are also used by various third parties for selling their goods.ScopeAmazon is one of the first retail companies in the world to use artificial intelligence (AI) and its subset - machine learning (ML) - to suggest products to customers. The Amazon recommendation engine, Amazon Go Store, and Alexa - the three most popular Amazon products - are powered by AI and ML. The company follows a unique AI strategy called the flywheel approach to ensure that AI and ML-based innovations and insights are not confined to just one department but are shared among departments across the organization.Amazon developed and deployed a data lake called Galaxy data lake to store, govern, discover, and share enterprise-wide data
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About Symbl.ai
Industries
Enterprise Software
AI & Machine Learning
Company Size
11-50
Company Stage
Series A
Total Funding
$23M
Headquarters
Seattle, Washington
Founded
2018
Symbl.ai is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today