MonkeyLearn Raises $2.2M in Seed Funding for No-Code AI

MonkeyLearn Raises $2.2M in Seed Funding for No-Code AI

MonkeyLearn, a platform that provides the power of machine learning to the business user with zero technical skills, has raised a $2.2 Million seed round in Silicon Valley. 

So far, MonkeyLearn has helped top companies, from large social media platforms to e-scooter services, scale their processes without the hassle of building complex infrastructure

As hiring dev teams becomes more expensive and economic circumstances change, companies are turning towards more affordable code-free solutions like MonkeyLearn. MonkeyLearn can be set up in days instead of months while reducing implementation costs by up to 10 times

Combining natural language processing (NLP) technology with user-friendly UI and integrations, MonkeyLearn gives non-coders the means to build and train their own text analysis models in a matter of minutes. Yes, all without the need for roping in developers or data scientists.

By connecting these models to CRMs, apps, and other data collection tools, businesses can automatically process huge amounts of qualitative text data and organize it in next to no time. 

For MonkeyLearn’s clients, no-code machine learning has become indispensable for automating internal business processes like routing, prioritizing, and answering support tickets. But, also to improve customer experiences. Classification tools, for example, are used to identify requests, detect bugs and issues, and learn what customers like and dislike about products or services.

MonkeyLearn's combination of flexibility, scalability, and ease of use, helps businesses save time and money by making operations more efficient. Some clients say MonkeyLearn has halved their response times in customer support after moving from manual to automated processes.

"Our vision is to make AI approachable and available for daily operations,” said co-founder and CEO Raúl Garreta.

Headquartered in San Francisco, MonkeyLearn was co-founded by Raúl six years ago. Since then, it has grown into a remote team of 16, with a major hub in the Uruguayan capital Montevideo – Raul’s hometown.

The seed funding will be used to accelerate MonkeyLearn’s growth, focusing mainly on hiring sales and marketing professionals in the US, as well as product development.

"Using data and machine learning to automate business decisions was long considered something only the largest and most technical companies could achieve, but MonkeyLearn puts that power into the hands of every business," said Andy McLoughlin, partner at Uncork Capital, who joined as a board member as part of the seed round.

He added: “We believe there is a huge opportunity to knit MonkeyLearn's easy-to-use AI platform into every company's business processes.”

Raúl Garreta

July 12th, 2019

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