Get To Know More About The Funding Of Machine Learning Startups

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Text IQ, Inc. uses an artificial intelligence (AI) platform and provides a solution for legal and compliance issues for a company. This solution by the company helps to discover and identify the very sensitive data of a company. It’s also important to have commercial property insurance and license to operate as a company.

What does Text IQ do

This AI system of Text IQ saves a lot of time in document searching. Manual searching of any unstructured document will need hundreds of human hours for reading and arranging the documents. Even after the work some data might have been missing because of human error.

Going through hundreds or thousands of legal papers is a nightmare and consumes a lot of time and money. There is also a risk of leak and data theft when humans of involved and the necessary documentation is a very sensitive one. Very reliable persons are needed to be involved on such times and it becomes a nightmare when there is a shortage of time in searching the document.

The service charges of Text IQ are very reasonable compared to the expenses of manual searching. Safety is the priority of Text IQ and data breach is completely avoided because of the safety measures taken by the company. 

The AI system does not only help to identify and read the text and sort the data the company with its superior technology can also extract the needed data from unstructured emails also. Information about a client from the emails of the client can be found by using the AI system of Text IQ. Taking up commercial property insurance Ireland can also be added into the system to manage the expenses effectively.

By significantly improving the system developed by Text IQ it can be used in various methods. The funding of $12.6m will help the company to spend money on expanding the research, sales and marketing teams. There is ample scope for the company to grow in a big way in the near future as this type of development using the AI system will need superior skilled workers.

Text IQ companies text reading tool was initially used by lawyers to sort out their legal documents which were proving to be a headache as the documents involved were not only more but the documents had multiple data linked to one another. Lawyers also help you in getting business insurance and license to operate in Ireland and they also solve any sort of discrepancies with business insurance Ireland.

How does the AI system of Text IQ work

The AI platform of Text iQ instantly analyses the open text given to it and looks out for the most important data needed by the customer as well as the workers are looking for. It sorts out the useful data suitable to the customer.

Powerful machine learning algorithms which are math and logic programs, which change as per the necessity and to work better as per the data provided to it immediately sort out and arranges the data according to the result of the feedback it receives.

Text iQ using the feedback automatically goes through the data and updates reports to the employees working on them and provides insights to the employees to make the necessary changes they need to make at the needed time.

The AI also watches the topics that are provided to it every few minutes. The important headings are classified into various modules and checked continuously for the needed result as drifting away from the main topic should be avoided.

How will the $12.6m funding be useful to the company

Every startup needs funding for expansion. Finance is very important for a company’s growth during the initial stages of its growth as profit cannot be expected initially.

Text IQ was recognized as one of the most promising startup company in recent times. The $12.6m funding was done by a consortium of companies led by FirstMark Capital. Text IQ has more than 150 companies on its client list. The company is in the growth mode and this funding will help it to grow exponentially by hiring more professionals and expanding its workspace.

As a company which helps people to sort data at a cheaper and faster rate, Text IQ is poised for stellar growth in the near term.