# Wit.AI

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

- Industry: Software
- Headquarters: Palo Alto, US
- Website: www.wit.ai
- Total disclosed funding: $3M
- Latest round: Seed (Oct 15, 2014)
- Investors on record: 8

## About

Wit.ai is a technology company focused on creating advanced natural language processing platforms that enable seamless voice and text interactions between users and digital applications.Founded in 2013 and headquartered in Palo Alto, US, Wit.ai develops natural language processing technologies. In January 2015, the company was acquired by Facebook. The funding environment has seen Wit.ai engage in a SEED round led by Andreessen Horowitz, raising USD 3.00 mn which matched their total amount raised in funding to date.Wit.ai specializes in developing natural language processing (NLP) technologies that facilitate voice and text interactions between users and digital products. The company’s core offerings enable developers to create chatbots and virtual assistants that function across various messaging platforms and smart devices. Wit.ai provides an open and extensible platform that allows developers to build and deploy applications capable of understanding and processing natural language in real-time. The end-use cases target a diverse range of industries, including consumer electronics, smart home automation, and mobile applications, catering to developers and businesses worldwide looking to enhance user engagement through conversational interfaces. Wit.ai serves a global customer base, including over 350,000 developers in more than 132 languages, emphasizing its commitment to inclusivity and accessibility in technology.Wit.ai generates revenue through a model that emphasizes partnerships and direct engagement with developers and businesses utilizing its platform. The structure typically involves the provision of a free-to-use service for developers who can subsequently opt for advanced features or additional support, through subscription plans or premium services tailored to specific business needs. Transactions are characterized by the integration of Wit.ai’s natural language capabilities into customer applications, which may involve licensing agreements or collaborations with software providers. While specific pricing plans are not disclosed, the offerings are designed to cater to both B2B engagements, focusing on businesses integrating Wit.ai into their products, and direct-to-consumer solutions where end-users interact with the developed applications. This revenue model reflects Wit.ai's goal of fostering a vibrant ecosystem around its technology while supporting the diverse needs of its user base.Wit.ai's strategy for future growth includes the development of new products aimed at enhancing its NLP capabilities, though specific release dates have not been provided. The company aims to expand its presence in emerging markets globally, focusing on regions that can benefit from enhanced digital interaction through NLP technologies. Recent funding from the SEED round, which raised USD 3.00 mn, will be utilized to accelerate product development and market expansion efforts. In January 2015, Wit.ai was acquired by Facebook, a move that is expected to bolster its resources and reach in the technology landscape.

## Funding rounds

- Seed, Oct 15, 2014, $3M — New Enterprise Associates, Ignition Partners, Alven, Andreessen Horowitz, SV Angel, TenOneTen Ventures, Sound Ventures
- Seed, Jan 1, 2014 — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Seed
- Ignition Partners (https://capitalatlas.ai/funds/ignition-partners) — Seed
- Alven (https://capitalatlas.ai/funds/alven) — Seed
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed
- TenOneTen Ventures (https://capitalatlas.ai/funds/tenoneten-ventures) — Seed
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Seed