# raffle.ai

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/raffle-ai-aps

- Industry: Software
- Headquarters: Copenhagen, Denmark
- Website: www.raffle.ai
- Total disclosed funding: $21M
- Latest round: Series A (Jan 26, 2022)
- Investors on record: 3

## About

Based in Copenhagen, Denmark, and founded in 2018, raffle.ai ApS is providing Artificial Intelligence as a Service (AIaaS). In January 2020, raffle.ai ApS raised USD 3 million in seed funding led by new investor Vaekstfonden, with participation from another new investor PreSeed Ventures. In January 2022, raffle.ai raised EUR 16 million in Series A financing led by new investor K1 Investment Management, with participation from Vaekstfonden. The company was co-founded by Suzanne Lauritzen and Ole Winther. 

The company offers Raffle's software and API - its Search solutions include Website Search, Workplace Search, and In-App Search. The platform uses natural language processing (NLP) and natural language understanding (NLU) machine learning so that the user can search both internal documents and a company's website, using contextual learning to understand meaning and intent, making it easier for your customers and employees to find what they are looking for with your very own Next-Gen Enterprise Search Engine. 

raffle.ai generates revenue through a subscription-based model. Memberships offered include Chabot for SUD 970/month, Professional for USD 1470/month, Business costs USD 1770/month, and the Enterprise package for USD 3270/month. 

raffle.ai ApS plans to use the 2022 funding to more than double its headcount by the end of 2022 and continue its penetration into the European and US markets.

## Funding rounds

- Series A, Jan 26, 2022, $18M — Vaekstfonden, K1 Investment Management
- Seed, Jan 29, 2020, $3M — PreSeed Ventures, Vaekstfonden

## Investors

- PreSeed Ventures (https://capitalatlas.ai/funds/preseed-ventures) — Seed
- Vaekstfonden (https://capitalatlas.ai/funds/vaekstfonden) — Seed, Series A
- K1 Investment Management (https://capitalatlas.ai/funds/k1-investment-management) — Series A