# Text IQ

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/text-iq

- Industry: Software
- Headquarters: New York, US
- Website: www.textiq.com
- Total disclosed funding: $19M
- Latest round: Series A (Jun 3, 2019)
- Investors on record: 3

## About

Text IQ, Inc. leverages advanced artificial intelligence and machine learning to facilitate efficient data discovery and management, specializing in the automation of sensitive information analysis for compliance and risk management.Founded in 2014 in New York, US, Text IQ, Inc. focuses on providing AI-driven solutions for data management. The company was involved in a strategic acquisition in May 2021, where it was acquired by Relativity ODA LLC, a portfolio company of Silver Lake, from investors including Floodgate, FirstMark Capital, and Sierra Ventures. The founders, Apoorv Agarwal and Omar Haroun, have a history of innovation in the tech industry, with Agarwal serving as the current CEO.TextIQ specializes in advanced artificial intelligence and machine learning solutions designed to enhance data discovery and management processes. The company's primary offerings focus on automating the identification and analysis of sensitive information across vast datasets, providing organizations with tools to streamline compliance and risk management. TextIQ’s technology fundamentally aims to address the challenges of data privacy, particularly in industries that handle large volumes of sensitive data, such as healthcare, finance, and legal. Its solutions have been implemented by a diverse clientele that includes large enterprises and government agencies, specifically targeting markets in North America and Europe. The end-users of these services benefit from improved operational efficiencies and enhanced decision-making capabilities, particularly in scenarios requiring meticulous data handling.TextIQ's revenue model is primarily structured around subscription-based services, where clients pay for access to the company's innovative data management platforms. These subscriptions typically involve varying tiers based on the scale of data processed and the depth of analytical capabilities required, ensuring flexibility for different client needs. The company also engages in partnerships with key players in the technology sector, which may further enhance its market reach and service offerings. Clients, primarily from industries such as healthcare and finance, utilize TextIQ's flagship products to ensure compliance with stringent data regulations, engaging in regular service renewals that contribute to a steady revenue stream. Overall, the structured transaction framework allows for sustained engagement with existing customers while attracting new clients seeking comprehensive data solutions.Text IQ, Inc. plans to expand its product offerings by developing new AI-driven solutions aimed at enhancing data privacy and compliance. The company is targeting expansion into new geographic markets, particularly Europe and Asia, by the end of 2023. The recent funding of USD 12.60 mn in the Series A round, led by FirstMark Capital, will be utilized to support these initiatives, allowing Text IQ to enhance its technology and broaden its market presence.

## Funding rounds

- Series A, Jun 3, 2019, $13M — Sierra Ventures, FirstMark Capital
- Seed, Feb 1, 2017, $3M — Floodgate
- Seed, Sep 20, 2016, $3M — Floodgate

## Investors

- Floodgate (https://capitalatlas.ai/funds/floodgate) — Seed
- Sierra Ventures (https://capitalatlas.ai/funds/sierra-ventures) — Series A
- FirstMark Capital (https://capitalatlas.ai/funds/firstmark-capital) — Series A