Tech

New list highlights the top 40 startups solving business problems with artificial intelligence


Four companies in the Seattle area have compiled a list of the top privately held companies building business applications using artificial intelligence and machine learning. Opening Smart Apps Top 40 The list (IA40), funded by Goldman Sachs and Seattle’s Madrona Ventures, polled 40 venture firms, Amazon and Microsoft for their top picks.

“Our vision is that smart apps will replace software as a service,” Matt McIlwain, chief executive officer of Madrona, in a podcast discuss the list, which was released Monday. The 50 corporate judges narrowed down the list from more than 220 nominees.

To minimize bias, the jury is allowed at least two votes from their portfolio for each company category. There are four categories, three based on the total amount of funding raised, and a fourth category that includes companies with “enabling” AI technology.

Follow a website that notices the list.

Early-stage startups with less than $30 million raised to growth-stage companies have raised over $200 million. Seattle-area companies shortlisted include:

  • Amperity, which helps brands like Alaska Airlines and Kroger organize and analyze personal customer data. Amperity allows companies to fine-tune their targeted marketing campaigns. $100 million investment round this summer open a company into “unicorn” status, valuing it at more than $1 billion. Backers include Madrona, HighSage Ventures and Tiger Global Management.
  • OctoML, an “allowing” AI company. NS University of Washington spinout using machine learning to help organizations build machine learning, AI, and recent models and applications raised $85 million, including from Madrona.
  • Search, which makes recruiting software pull from sources as diverse as patent databases and GitHub. The software can also assist in diversification efforts and understand past hiring patterns. SeekOut is used by Salesforce, Waymo, Merck, Twitter, and others. Profitable company raised $65 million this spring, including from Madrona.

The top 40 list also includes Boston DataRobot in the “allowed” category. DataRobot automates the building and deployment of machine learning models for large enterprises and recently bought again Headquarters in Seattle Algorithmia, One Start machine learning. More than 130,000 people have used Algorithmia’s platform, including those at companies like Merck, Ernst & Young, and Deloitte.

McIlwain and investor Madrona Ishani Ummat noted some of the trends highlighted by the competition.

In the past, cyber intelligence and security have dominated the list of AI companies. But an increasing number of companies are delivering AI-powered sales and customer intelligence applications that enable a customer experience “without the need for human involvement or thinking about this in the future.” point of sale systems and allow customers to self-service beyond their ability to buy something Ummat says Another growing area is financial intelligence.

McIlwain said future versions of the list will incorporate a newer trend, the emergence of AI in biotechnology and life sciences.

“It is safe to say that in our view, the next generation of software will be defined by smart applications,” said Ummat.





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