New funding led by Panache Ventures is set to bolster HumanFirst's team and enhance its LLM features, empowering AI-driven business insights
MONTREAL, QC / ACCESSWIRE / July 26, 2023 / HumanFirst, a leader in low-code data productivity suite, today announced $5 million CAD in Seed funding. This total amount has been accumulated over the course of three smaller safe-note financing rounds. The round was led by Panache Ventures with participation from Inovia, Real Ventures, and BoxOne Ventures along with a prominent group of angel investors, including Kevin Mahaffey. The new funding will drive the company's mission to unlock the untapped potential of conversational data and turn it into business and artificial intelligence insights, fostering enterprise teams to collaborate, innovate and better understand their conversational data at scale.
"The no-code movement is a profound shift in the software industry, empowering those without formal programming knowledge to create their own applications," said Gregory Whiteside, Co-Founder and CEO of HumanFirst. "We are providing an essential bridge to this new reality by unlocking the potential of conversational data, which is difficult to understand and make useful. This funding will fuel our journey, allowing us to enhance our offerings and address our clients' evolving needs."
PitchBook Data forecasts that the global generative AI market will hit $42.6 billion by year's end, signaling a rising demand for data-centric AI strategies to improve and iterate models on. However, a shortage of technical expertise and the complexities of in-house AI scaling pose substantial challenges to enterprises. The key to successful AI deployment lies in the quality, relevance, and representativeness of the training data used in fine-tuning pre-existing models. Neglecting these parameters may lead to biased predictions, skewed results, or inaccurate outcomes, emphasizing the necessity of high-quality data for optimal AI performance.
"HumanFirst's data-centric approach to simplifying and improving AI models for both technical and non-technical users is unprecedented," stated Scott Loong, Partner at Panache Ventures. "Their technology allows enterprises to discover and operationalize business and customer insights in ways that have not been possible before with scaling conversational datasets. Given the team's deep technical expertise in AI, we believe HumanFirst is well-positioned to address the challenges enterprises face in optimizing their data."
HumanFirst's solutions are already enhancing business operations for clients, which include Canada's last-mile delivery leader, Intelcom. By connecting conversational data with HumanFirst's platform, the process of identifying trends and opportunities becomes simplified through its AI trainers. HumanFirst's intuitive interface, which combines 'human-in-the-loop' labeling and data observation, offers a more straightforward way for technical and non-technical enterprise teams to develop robust and scalable AI applications.
"Before integrating HumanFirst, identifying call center issues was guesswork affecting our call center's capacity. Understanding our data at scale was challenging, and identifying root issues was practically unattainable," stated Jean-Sébastien Joli, CEO of Intelcom. "It has enabled our team to comprehend our data in ways that we haven't before. HumanFirst is providing data-driven insights that will help us build even better customer and product experiences.By implementing the automation recommendations produced by HumanFirst within our call center, we expect, in the first phase, to remove repetitive interactions by our customer agents by up to 50%."
HumanFirst plans to double its workforce and triple its customer base by 2024. With clients around the world, HumanFirst has become the go-to data-centric solution across industries.
HumanFirst is a leading provider of low-code data productivity solutions, helping enterprise teams collaborate and launch AI products and experiences. Their technology turns unstructured conversational data into actionable business insights, empowering businesses to better serve their customers. For more information visit https://www.humanfirst.ai/.
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