Passage AI, a Mountain View, CA-based developer of AI-powered conversational interfaces, raised $7.3m in Series A financing.
The round, which brings total funding to $10.3m, was led by Blumberg Capital. In conjunction with the funding, Bruce Taragin, managing director at Blumberg Capital, will join Passage AI’s Board of Directors.
The company intends to use the funds to expand into the below industries and international markets.
Founded in 2016 by Walmart Labs alumni Madhu Mathihalli and Ravi Raj and LinkedIn alumnus Mitul Tiwari, Passage AI brings AI-powered conversational interfaces into the retail, telecommunications, automotive and education industries to enable companies to address a variety of use cases, automating routine and tasks and providing instantaneous responses to common questions.
The company has created a bot-building tool that utilizes AI and natural language processing technologies, requires no coding and can be deployed anywhere in as little as two weeks. Its deep learning model enables Passage AI bots to understand a user, natural language text and speech, creating an intelligent conversational interface capable of better identifying intents, extracting the most useful, pertinent and timely information, understanding and responding to queries and searching through vast amounts of data.
FinSMEs
02/05/2018