DVI Equity Partners, LLC (DVI), along with VT Companies and DF
Enterprises, announced today an investment in Luminoso Technologies'
Series B round of financing. Luminoso's award-winning software applies
artificial intelligence (AI) and natural language processing (NLP) to
derive insights from text-based and unstructured data such as contact
center interactions, chat-bot and live chat transcripts, product
reviews, open-ended survey responses and email. The software natively
analyzes text in fourteen languages, as well as emoji. Terms of the
investment were not disclosed.
"Luminoso is a remarkable company and well-positioned to be a NLP
technology leader," said DVI Managing Partner Robert Griffin, who led
the investment and will soon join the Luminoso board of directors. "They
are automating data analysis that once took hundreds and even thousands
of human hours, enabling global enterprises to unlock the voice of their
customers, employees, product design team and more to optimize their
operations, brand and customer experience."
Luminoso was recently listed in "The Gartner (News - Alert) Marketing Technology Vendor
Guide, 2018" report as a Cool Vendor*. Luminoso was also cited as a
Sample Vendor in the Gartner "Hype Cycle for Digital Marketing and
Advertising, 2018" report in the "Artificial Intelligence for Marketing"
category. According to Gartner analyst Bryan Yeager in the report,
"Near-term business impacts of AI for marketing center on making insight
generation and prediction faster, more accurate and more actionable."
"Luminoso is in a time of unprecedented growth and opportunity," said
Luminoso CEO Adam Carte. "We are excited to partner with three
well-capitalized and sophisticated family office investors in this next
stage of our development. In particular, we believe DVI's experience
with and knowledge of the data analysis and artificial itelligence
space will strengthen and help expand our leadership position in AI and
According to the Markets and Markets report titled "Natural Language
Processing Market," the NLP market size is estimated to grow from $7.63
Billion in 2016 to $16.07 Billion by 2021, at a Compound Annual Growth
Rate (CAGR) of 16.1 percent.
About Luminoso Technologies
Luminoso Technologies is a leading artificial intelligence (AI) and
natural language understanding (NLU) company that enables companies to
rapidly discover insights in open-ended feedback. Luminoso's
award-winning software applies AI to accurately analyze text-based data,
for any industry, without lengthy setup time or training. Luminoso can
analyze unstructured data natively in 14 languages, including Chinese,
Korean, Japanese, and Arabic. Companies use the insights that Luminoso's
solutions uncover to streamline their contact center processes, monitor
brand perception, and optimize the customer experience. The company is
privately held and headquartered in Cambridge, MA.
For more information, visit www.luminoso.com,
and follow Luminoso on Twitter (News - Alert) at @LuminosoInsight.
About DVI Equity Partners, LLC
DVI Equity Partners, LLC has a singular mission of investing in early
stage, emerging technology companies specializing in disruptive
technology with an emphasis on companies founded and led by women and
minorities. The firm evaluates emerging technology companies that create
business-to-business (B2B) value in areas including national security,
enterprise software, artificial intelligence, and data storage and
analysis. DVI shares expertise, resource and forms relationships with
entrepreneurs to help them transform the way industries and the public
sectors conduct business. Visit dviequitypartners.com
for additional information.
Gartner does not endorse any vendor, product or service depicted in its
research publications, and does not advise technology users to select
only those vendors with the highest ratings or other designation.
Gartner research publications consist of the opinions of Gartner's
research organization and should not be construed as statements of fact.
Gartner disclaims all warranties, expressed or implied, with respect to
this research, including any warranties of merchantability or fitness
for a particular purpose.
*Gartner, Cool Vendors in Artificial Intelligence for Marketing, May
2017 - A Cool Vendor
Gartner, Inc. "Hype Cycle for Digital Marketing and Advertising, 2018"
by Bryan Yeager, Mike McGuire. July 25, 2018.Gartner, Inc. "The
Gartner Marketing Technology Vendor Guide, 2018" by Bryan Yeager, Adam
Sarner, Noah Elkin, Benjamin Bloom. August 20, 2018.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181206005703/en/
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