Startup raises seed funding for adaptive machine learning
TAZI.AI has launched its machine learning offerings especially for insurance, healthcare and pharma industries, built on its SaaS ML platform. In as little as 40 days, TAZI users will now be able to create ML models and start seeing business results. As part of the launch, TAZI.AI received a $4.6 million round of financing led by Illuminate Ventures, a seed stage Enterprise/B2B software-focused VC firm.
“Getting continually improving predictive insights is critical for enterprises to better serve their customers. TAZI.AI does just that by putting the power of ML directly into the hands of business users and letting them build and deploy continually improving predictive models in a fraction of the time of existing approaches,” said Jennifer Savage, Partner at Illuminate Ventures. “TAZI.AI’s approach can also help early adopters, such as those in the insurance and healthcare industries, gain the benefit of ML without the need for substantial financial investment in talent or computational resources to use ML at scale.”
Currently, TAZI helps insurance companies realize benefits of ML with its lead scoring, cross-sell and profitability monitoring solutions to increase their revenues, efficiency, and response time. “The investment will help us expand our team and grow our base of enterprise customers. My aim is to make ML accessible for everyone, even my mom should be able to use it soon,” said Zehra Cataltepe, Co-founder and CEO of TAZI.AI.
According to Yaser S. Abu-Mostafa, professor in the Learning Systems Group at Caltech, coupling the technologies of TAZI, continuous ML, model explanations and human-in-the-loop, allows an ML system to deal with changing situations more robustly.
Long-term industry veteran Bill Elmore, founder of Handshake Ventures reflected: “TAZI’s strong product and the team led by the impressive co-founders Zehra and Tanju will help the realization of their vision, this is definitely worth our support.”
TAZI.AI’s founding team has extensive research and industry experience in ML, demonstrated by more than 100 publications and 23 patents.
The current funding round is led by Illuminate Ventures, with the additional participation of Diffusion Capital Partners, Foothill Ventures, Handshake Ventures and angel investors.