lang.ai Raises $2M to Simplify AI Implementation for Businesses

Lang.ai Secures $2 Million in Seed Funding

Lang.ai, a company specializing in no-code platforms for businesses, has successfully completed a $2 million seed funding round.

The company’s SaaS platform is designed to empower business users to organize unstructured, free-text data. This is achieved through custom categories created via an intuitive drag & drop interface, leveraging concepts extracted by artificial intelligence.

Investment Details

Village Global spearheaded the financing effort. Participation also came from both new and returning investors, including Acceleprise, Oceans Ventures, Alumni Ventures Group, 2.12 Angels, GTMFund, and Lorimer Ventures.

Company Origins and Mission

Founded in 2018 by Spain-born Jorge Peñalva, Lang.ai was created with the intention of enabling any business user to construct production-ready natural language processing models rapidly – within minutes, in fact.

The platform addresses a need for non-technical personnel to automate repetitive processes in areas like customer service and claims handling.

“Deployment options are flexible; it can reside in our cloud environment or the client’s,” Peñalva explained.

Growth and Funding Rationale

Lang.ai experienced a doubling of revenue between the fourth quarter of 2020 and the first quarter of 2021. This growth trajectory was the primary driver behind seeking seed funding.

“We are witnessing increasing demand in the form of projects from our larger clientele, necessitating funding to adequately support this expansion,” Peñalva stated in an interview with TechCrunch.

Identifying a Market Gap

Peñalva’s prior experience as CEO of Séntisis revealed a significant oversight in many companies: the inefficient handling of processes reliant on free-text data.

“Currently, substantial financial resources and employee time are dedicated to the manual review and processing of textual information originating from various business functions,” he noted.

Lang.ai’s core mission is to “facilitate the application of AI for businesses, eliminating the complexities associated with algorithm development and training.”

Product Functionality

Lang.ai’s product swiftly analyzes a client’s existing data – often within minutes – and proposes AI-derived concepts. These concepts are then used to build custom categories through the drag & drop interface.

These custom categories are applied in real-time to streamline tasks such as support ticket tagging and routing, insurance claim processing, and the assignment of field engineers to work orders.

Essentially, Lang.ai aims to simplify the implementation of AI solutions for businesses.

The “Citizen NLP Builder” Community

Lang.ai’s user base, referred to as “Citizen NLP Builders,” primarily consists of non-technical professionals. These include individuals in customer service, marketing, business analysis, and UX design roles.

Current Clients

Notable customers include Freshly, Userzoom, Playvox, Spain’s CaixaBank, Yalo Chat, and Bancolombia.

Ben Segal, director of infrastructural efficiency at Freshly, praised the platform’s agility.

“The platform allowed us to achieve a 15% improvement in automated tagging reliability within just two days, surpassing the performance of a previous system that had been operational for two years,” Segal said. “Furthermore, it empowers all our teams to leverage our support data effectively. Marketing is utilizing it to understand key customer interactions, and our data analytics team is excited about the new tags available in Snowflake. Its ease of use is remarkable.”

Team and Future Outlook

Peñalva highlighted his pride in the fact that Lang.ai’s engineering team is largely based in Spain, and that he has successfully grown the 10-person company outside of his home country.

“Despite limited resources, we developed an enterprise-grade product and secured the support of early customers and investors who share our vision in just over two years,” he stated. “My relocation to the U.S. from Spain was driven by a desire to build a global company, and this is merely the initial phase… Lang has consistently been fueled by an immigrant work ethic, which has been central to our values from the outset.”