A brand new generative AI startup with ties to Seattle simply raised $65 million from Microsoft’s M12 and others to assist enterprises produce content material.
Typeface emerged from stealth mode Monday and unveiled its new platform tailor-made for companies to create content material starting from product photos, blogs, social media posts, job listings, and extra.
The San Francisco-based startup makes use of pure language processing and different deep studying tech to know the tone and viewers of a enterprise.
Typeface is amongst a rush of generative AI startups attracting funding even amid a enterprise capital slowdown. Many of those firms are constructing enterprise instruments to assist staff change into extra environment friendly.
Tech giants together with Microsoft are additionally rolling out their very own companies powered by generative AI.
Typeface CEO and founder Abhay Parasnis informed Startup his firm “represents a novel play within the business, and it’s the way forward for generative AI for companies of all sizes.”
Parasnis was beforehand CTO at Adobe. He was additionally a senior vice chairman at Oracle and and spent almost a decade as a normal supervisor at Microsoft Azure.
“Generative AI platforms have immense potential to rework storytelling and collaboration, however to totally understand their potential for the enterprise, they should be mixed with distinctive organizational property and identification,” he mentioned.
It’s nonetheless early days for generative AI tech. There are authorized considerations associated to the content material these fashions use, and potential to spew out incorrect and even offensive outcomes to a person’s inquiry.
Parasnis mentioned Typeface is “taking a accountable strategy to AI, guaranteeing acceptable safeguards are in place to stop misuse.”
Typeface used its personal software program to co-write its press launch Monday, augmenting the technology of complete sentences and paragraphs of textual content.
The corporate has a R&D footprint within the Seattle area and expects it “to be a core heart of innovation for us,” Parasnis mentioned.
The corporate’s engineering chief, Yue Ning, is predicated in Seattle and beforehand co-founded PANDA, an AI startup incubated on the Allen Institute for AI.
Typeface attracted investment from Seattle enterprise capitalist S. “Soma” Somasegar, a former Microsoft govt and present managing director at Madrona. His funding in Typeface was made in a person capability, separate from Madrona.
Different Typeface backers embody Lightspeed Enterprise Companions, GV (Google Ventures), and Menlo Ventures.