Funding to Drive Growth of AI Summarization Platform
NEW YORK, NY / ACCESSWIRE / March 16, 2022 / Agolo Inc., the AI-powered Summarization Platform, today announced completion of its Series A funding round to accelerate its growth and cutting-edge technology roadmap.
The funding comes during a time of significant growth for Agolo. Demand for its Summarization-Powered Search application is growing rapidly, across both Federal and Commercial markets.
"Agolo was recently awarded a significant deal with a large federal government department, in order to modernize its search and retrieval capabilities" noted Agolo CEO Sage Wohns. "Using our proprietary on-demand Knowledge Graph creation to power our Query-Based Summarization, our clients have seen a dramatic improvement to their research and analysis capabilities across millions of documents" explained Agolo CTO Mohamed AlTantawy.
Agolo also recently introduced its ESG Research Summarization application, a first-of-its-kind product to simplify the analysis of Environmental, Social & Governance reports by financial institutions and large corporations. With ESG increasingly a critical part of the investment decision-making process for most financial institutions, firms need the ability to scale their analysis of these massive reports.
The new funding round was led by Lytical Ventures. Existing investors Microsoft M12, Tensility Venture Partners and Ridgeline Partners also participated in the oversubscribed round.
"Sifting through huge data sets and deciding what information is important is hard. The US government realizes this as do large, highly regulated organizations. Agolo's value proposition is becoming increasingly clear as more and more enterprises wake up to their responsibility to turn knowledge into wisdom for the benefit of their customers and stockholders. We are excited to be along for the ride." said Steve Berg, Partner at Lytical Ventures, who will be joining the Agolo Board.
Capital from the raise will be used to fund expansion of Agolo sales and marketing teams, as well as scaling the product, data science and engineering teams to further the product roadmap.
Agolo is the leader in pioneering the next generation of search. Agolo's AI-powered summarization platform analyzes millions of documents to give each customer a unique knowledge graph and summary of key points specific to their areas of interest.
New York, NY
Contact: Sage Wohns
[email protected], (347) 450-7243