X.ai raises $23 million for its AI personal assistant, plans to launch this fall

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Artificial intelligence company X.ai has raised $23 million in new funding that’ll be used to support development of its personal assistant technology. The round was led by Two Sigma Ventures and will be allocated to hiring more data scientists, improving customer acquisition, and marketing to enterprise customers.

Other investors in the company’s latest round include DCM Ventures, Work-Bench Ventures, and existing investors like IA Ventures, FirstMark Capital, Softbank Capital, Lerer Hippeau Ventures, CrunchFund, and Pritzker Group Venture Capital.

X.ai was founded in 2014 by former Visual Revenue CEO Dennis Mortensen, along with Alex Poon, Matt Casey, and Marcos Jimenez. Its first product is based on using artificial intelligence to book your meetings for you. But instead of you needing to provide it in syntax that the computer would understand, X.ai’s virtual assistant “Amy” can comprehend the context (e.g. “Amy set up a meeting with Joe the first week of May”). The AI-powered assistant analyzes not only the message, but also the entire conversational thread, determines a place and time that works for everyone, and puts it on your calendar.

Read the source article at VentureBeat