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A human wrote this article but Narrative Science has made big business out of using data to construct news stories on topics ranging from sports to finance. It bills itself an “automated language generation company,” which basically means it uses proprietary systems to construct articles out of data culled from its clients. This week, Narrative Science announced new equity funding to the tune of $11.5 million dollars.
The round involved new investors Jump Capital and SAP Ventures, with participation from returning investors Battery Ventures and Northwestern University. Narrative Science will use the funds to build out Quill, the automated platform that creates its content, and to bolster sales and marketing.
"We will be able to bring in new people that have experience building companies in order to accelerate our growth and take the company to the next level," says CEO Stuart Frankel. "We will also be able to spend more time creating innovative products that meet the needs of our customers (and prospective customers) to ensure our technology is truly solving data interpretation and communication challenges companies — and people — face everyday."
Narrative Science offers Quill-produced articles for the financial services, marketing and advertising services, and research and information services industries. Its notable customers include Ancestry.com, Big Ten Network, Forbes and Vivaki.
For companies with large quantities of data, Narrative Science offers a cost-effective and practical approach to putting that data to work. Using information culled from the companies’ own activities, Quill creates stories that are personalized and highly relevant. To many investors, this is an attractive proposition.
“Narrative Science’s technology platform is truly innovative and represents a logical marriage between data analytics and natural language generation, said Jai Das, Managing Director of SAP Ventures, in a statement. “We help companies accelerate to maturity and look forward to partnering with Narrative Science as they continue to scale and grow their business in a smart way.”
With Quill producing everything from articles to reports to tweets, Narrative Science’s customers are already trading in their data for real, useful stories.
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