1 month ago
July 2, 2020
Intento Raises $3 Million to Serve Increasing Demand of Global Companies for AI Transformation
Berkeley, Calif., July 1, 2020 — Intento, a leading AI integration platform, today announces it has closed a $3 million seed round to expand its AI integration platform and meet the growing demand of global companies for AI transformation. The round was led by Flint Capital with participation from Berkeley SkyDeck and SmartHub along with other angel investors. Intento has also hired COO Anton Antich, who joined the company in April. Formerly an SVP of Strategic Operations at Veeam as well as an early Intento angel investor, Antich in his new position will focus on scaling Intento for multinational corporate customers.
The new funding will be used to build out Intento’s sales and marketing operations in Europe and in the U.S., as well as to expand the customer success team. This new round comes on top of the original funding of $1.3 million invested by the Berkeley SkyDeck Fund, PIK.vc, and Smarthub, among other angels.
The Intento platform helps companies procure and deploy a range of best-fit AI solutions for content processing. It is already in use by several large, global companies in the retail, travel and technology space.
“We are lucky to work with established global companies. In the face of the pandemic crisis, they have been looking to diversify both their vendor portfolios and business geography. We hit the spot with our current focus on multi-vendor Machine Translation solutions,” said Konstantin Savenkov, Founder and CEO, Intento. “We fulfilled our funding round during the period of the COVID-19 shut-down to quickly scale our operations to serve the increased demand, and to fully leverage this unique opportunity to help these large enterprises speed up their digital transformations.”
The current focus of the company is Machine Translation (MT), helping to train and evaluate MT models on more than 25 systems such as Amazon, Google AutoML, Microsoft Custom Translator, IBM, and DeepL. The Intento Enterprise Machine Translation (MT) Hub is an AI integration platform that makes these MT models available right in the existing software systems and workflows. In addition, the technology helps to augment MT with other AI intents such as text classification, sentiment analysis, image tagging, and soon OCR and speech transcription. It is also designed to work with conventional integration platforms such as MuleSoft (Salesforce), BMC, and SnapLogic.
“We are very excited to support Intento based on the team and the vision to productize AI integration into corporate business processes. The Intento platform is beating the competition with the ability to select and connect the best AI vendors for corporate needs. It is a very different process than traditional software selection and integration. Intento saves companies significant time and budget through its platform,” said Andrew Gershfield, Partner at Flint Capital and a new member of the Intento Board of Directors. “We see a strong potential for Intento’s AI Platform as a Service to become a default choice to solve AI integration tasks for business clients.”
The new COO at Intento, Anton Antich, said, “I became an early angel investor in Intento three years ago as I liked the smart founding team and the product vision, having faced Enterprise integration challenges firsthand at Veeam. Intento already has an impressive customer portfolio, and we will aggressively expand from now on to make sure we can help many more customers worldwide to become productive in using AI products.”
A graduate of the Berkeley SkyDeck accelerator, Intento helps global companies procure and utilize the best-fit cognitive AI services. The Intento AI Hub connects AI models trained on multiple platforms (such as Amazon, Google AutoML or Microsoft Cognitive Services) with many enterprise software systems. Launched in 2017, Intento recently received a U.S. patent for its core platform and works with global technology, retail and travel companies, augmenting their Localization, Content Management, Customer Support and Marketing Operations with AI. It recently obtained its ISO-27001 certification. For more information, visit inten.to.
About Flint Capital
Flint Capital is an international venture capital firm established by IT entrepreneurs with the primary mission of discovering and supporting bold-thinking founders and their teams from Europe, Israel, and the U.S. across a number of industries. Flint Capital leads funding rounds at the Seed and Series A stages, focusing on companies that have the potential to disrupt their respective industries. Flint Capital has extensive expertise in enterprise software, DevOps, fintech, and consumer mobile apps. Previously Flint Capital has supported the following software companies: WalkMe, Socure, Loom Systems (acquired by ServiceNow), CyberX (acquired by Microsoft), BlazeMeter (acquired by CA Technologies), AppSee (acquired by ServiceNow), ManyChat, Flo Health and many others. Flint Capital runs the business in Menlo Park, Boston, and Tel Aviv. For more information, please visit www.flintcap.com.