Laura Strong has joined DataChat as the company’s Vice President of Strategy and Healthcare. In this leadership position, Laura will work closely with the engineering and sales teams as we bring our data and analytics platform to market. She will also be responsible for developing strategic relationships in the healthcare and life science industries.
Laura Strong Joins DataChat to Expand Sales Team, Lead Strategic Relationships in Healthcare and Life Sciences
MADISON, Wis., Sept. 7, 2021 — DataChat, Inc., a software company that’s revolutionizing data analytics, today announced the closing of a $25 million Series A funding round led by Redline Capital and Anthos Capital. Celesta Capital (formerly WRVI Capital) and Nepenthe Capital, which led the previous $4 million seed funding round, also participated.
DataChat addresses a key problem for businesses: Collecting data is easy, but making data-driven decisions is hard, especially for business users who need to act quickly to emerging trends in their data.
“Business data analytics is largely stuck in decades old processes driven by traditional business intelligence tools,” Tatiana Evtushenkova, a partner at Redline Capital, said, “Jignesh and his team have a radically different approach to democratize analytics using a novel conversational paradigm, and they have a compelling vision to dramatically transform the existing analytics ecosystem. We are delighted to have led this round.”
The key challenge for business today is how to empower their business users to self-serve complex data analytics. Today, for ad hoc analytics, these users either rely on prepared dashboards or spreadsheets to answer complex analytics questions. The power to create new, sophisticated analytics workflows using advanced methods like machine learning is simply out of the reach for these business users. DataChat empowers these users to self-serve data science by simply chatting with their all-in-one platform using controlled natural language.
“We were struck by the sheer simplicity of the solution that DataChat has built, abstracting away complex machine learning and collaboration machinery that is needed to realize the full potential in enterprise data,” noted Bryan Kelly, co-founder at Anthos Capital, “We were also impressed by the stellar DataChat team that combines world-class technology creation with a deep customer-empathic approach in everything that they do.”
DataChat describes its approach as “AI + BI = CI,” which succinctly captures their philosophy of driving analytics to the next level using their novel Conversational Intelligence (CI) approach that uses artificial intelligence (AI) to take business intelligence (BI) to the next level.
“The seed round allowed us to bring the initial product vision to market and to release it to a limited set of customers,” said DataChat CEO and co-founder Jignesh Patel, “The reception has been a huge success, and the Series A round will allow us to accelerate execution of both our product roadmap and our customer growth strategy.”
DataChat was started as a spin-out from the University of Wisconsin and continues to maintain its headquarters in Madison. DataChat also continues to receive funding from America’s Seed Fund and the Wisconsin Alumni Research Foundation (WARF), UW-Madison’s nonprofit patent and licensing organization.
Madison, WI, October 21, 2020
DataChat, Inc, a University of Wisconsin-Madison spinout with a sophisticated yet intuitive data analytics platform, today announced the closing of a $4 million seed funding round led by leading Silicon Valley venture capital firms WRVI Capital and Nepenthe Capital. Other participants included individual investors from Google and Palo Alto Networks.
“We’re building technology that represents the future of how people get insights from their data. It’s a sophisticated technology that cuts across multiple disciplines in computer science, including data science and AI,” said Jignesh Patel, the CEO and co-founder of DataChat, “We needed smart money to fuel our vision and this round does exactly that.”
Growing customer interest led the company’s leadership to pursue investment from major venture capital firms in Silicon Valley. DataChat plans to use this funding to further scale the team and customer base.
“DataChat has gathered a very talented team of serial entrepreneurs from University of Wisconsin-Madison. Jignesh Patel is creating a Conversational Intelligence platform to provide deep insights into data. WRVI Capital is pleased to lead with $4 million in seed funding to commercialize this intuitive data analytics platform for multiple vertical enterprise markets,” said Lip-Bu Tan, Founding Managing Partner of WRVI Capital and Chairman of Walden International.
DataChat’s Conversational Intelligence (CI) platform helps business users obtain valuable insights from their data by simply chatting with the platform; no coding experience required. The company describes its mission as “AI + BI = CI”, which summarizes their approach to transform traditional business intelligence (BI) by using artificial intelligence (AI) to usher in the new paradigm of CI. With CI, business users can discover insights into their data themselves. This democratization of big data allows enterprises to improve their competitive edge and build their analytics muscle quickly, easily, economically, and collaboratively.
“Data analytics has been stuck in decades-old technologies that are people- and process-heavy,” said Stanford Professor Christopher Ré, a world-renowned leader in artificial intelligence, MacArthur Foundation award winner, and advisor to DataChat, “With DataChat’s novel Conversational Intelligence technology, AI and data come together, empowering anyone and everyone to self-serve deep data analytics, transforming how enterprises realize value from their data.”
DataChat has previously been funded in part by America’s Seed Fund, a program of the National Science Foundation. The company is also supported by the Wisconsin Alumni Research Foundation (WARF), UW-Madison’s nonprofit patent and licensing organization.