Speaktoit Raises $2.6 Million in Series B Funding
Speaktoit, developer of human-computer interaction technologies based on natural language conversations, has closed a $2.6 million Series B growth investment round with funding from Motorola Solutions Venture Capital, Intel Capital, Alpine Technology Fund, and Plug and Play Ventures. The round comes as Speaktoit expands its natural language understanding platform, moves its corporate headquarters to Palo Alto, Calif., and ramps up its engineering team at the 30-person company.
Speaktoit continues to grow the user base of its flagship Assistant application for Android, iOS, Windows, and Google Chrome. The app, which can be interconnected across all platforms, has more than 12 million registered users. Assistant is now available in nine languages.
Speaktoit is also actively partnering with automotive, smart home, smart TV, wearable technology, and robotics companies to add voice interaction capabilities to their apps and devices. By embedding cross-platform, voice-activated and predictive assistance, newly connected devices in the Internet of Things era will be able to contextually understand users in their natural language.
"We believe that intelligent companions will become more important in the vertical markets we serve," said Reese Schroeder, managing director of Motorola Solutions Venture Capital, in a statement. "Since many of our customers are using their fingers and eyes for other tasks, voice has become a more important user interface to access critical information rapidly. The solution provided by Speaktoit can help that interface to really understand the user request in the proper context and generate meaningful replies."
"We're in the midst of an exciting time for human-gadget interaction technology," said Ilya Gelfenbeyn, CEO of Speaktoit, in a statement. "As the Internet of Things helps people reimagine what's possible with the objects around us, we're continuing to expand how users interact with their connected devices and gadgets. Our investors share our vision of the connected future, and we're excited to work with them to ensure natural language understanding becomes a seamless, instinctive and helpful part of our daily lives."