New NY Firm Aims to Bring Order to Data Chaos

A new firm called Structify has launched in Brooklyn, New York, with $4.1m in seed funding led by Bain Capital Ventures. Structify's software takes prompts from a chat interface and crawls the web to build a custom dataset for a user's needs.

As the name suggests, the software focuses bringing order to 'messy' data, using AI agents to extract what's needed from sources including news articles, SEC filings and social media posts, and present it formatted. For example finance teams can upload pitch decks and extract the company name, industry, founders, investors and funding amount from each deck; and construction teams can use it to turn complex geotechnical documents into more readable tables. The firm says the more the package is used, the smarter it gets, with experts fine-tuning AI results and feeding back.

The funding round was joined by 8VC, Integral Ventures and a number of angel investors. The money will be used to grow Structify's technical team and 'establish itself as the go-to data tool across industries.'

Alex Reichenbach (pictured), co-founder and CEO, comments: 'Everyone is excited for AI-driven workflows, but when all these workflows are based on inaccurate or stale data, they're totally worthless. We built Structify to solve that - great data first, then seamless workflows.' Slater Stich, a Partner at Bain Capital Ventures, adds: 'Every company I've ever worked with has a handful of data sources that are both extremely important and a huge pain to work with, whether that's figures buried in PDFs, scattered across hundreds of web pages, hidden behind an enterprise SOAP API, etc. I love Structify; I wish I could go back in time and give the product to my past self. You can throw almost arbitrary unstructured data at the API, and it'll turn it into a well-structured table - one that stays updated automatically, and where QA and validation are built in. We're thrilled to partner with Structify as they make the world's data not just available, but effortless to work with.'

Web site: www.structify.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.