NewtonX, a NYC-based real-time expert search engine, closed a $12M Series A funding.
The round was led by Two Sigma Ventures, with participation from Third Prime Capital and Xfund.
The company intends to use the funds for expansion of its personnel count from 30 to 100 within the next year and increase of expert discovery capabilities through technology investments and data acquisition.
Founded by CEO Germain Chastel, COO Sascha Eder and CTO Anuja Ketan, NewtonX provides an expert knowledge search platform that uses a proprietary suite of artificial intelligence (AI) and robotic process automation (RPA) technology to reduce the time and cost of finding industry expertise and knowledge.
NewtonX enables clients—including Microsoft, 23andMe, and the majority of the top 10 management consulting firms—to leverage automation to connect with professionals who have subject-matter expertise.
The company allows Fortune 100 companies to cut out the middleman, providing streamlined connections to expertise for use cases such as: voice of the customer analysis, competitive intelligence, product benchmarking, and due diligence.
Since founding in 2017, NewtonX has built two core pieces of technology—an expert search engine and an expert conversion engine—to allow companies to find and onboard high-quality experts. Now, two years later, the compamy is opening this technology up to external use in the form of a client-facing platform with a complete product line that consists of four core offerings:
– Expert Surveys: mobile-compatible surveys that deliver hundreds of data points in days
– Expert Consultations: on-demand discussions with C-suite executives and niche subject matter experts
– Executive Recruiting: targeted recruiting of executives with unique, hard-to-find skillsets
– Search Engine White Labeling: customized search capabilities for enterprise internal use.