Weav.ai Exits Stealth with Launch of Enterprise AI Copilots

Following a successful $5 million seed funding round, the company brings plug-and-play Generative AI capabilities to the enterprise.

PALO ALTO, CA / ACCESSWIRE / October 31, 2023 / weav.ai, a developer of plug-and-play Generative AI solutions for the enterprise, today announced that it has emerged from stealth with the launch of its Enterprise AI Copilots - a suite of tools that empower businesses to unlock the value of their unstructured and structured data using Generative AI (GenAI). The company accelerated product development after closing a $5 million seed round in November 2022, led by Sierra Ventures.

"Business leaders are eager to arm and equip their teams with the power of GenAI," says Peeyush Rai, CEO & Founder of weav.ai, whose previous venture Ciitizen was acquired by Invitae. "However, building production-ready GenAI applications requires a team of experts, often takes months or longer, and can still result in hit-or-miss outcomes." Rai and his former team at Ciitizen pioneered the development of an unstructured healthcare data platform, bringing a wealth of expertise and knowledge to the foundation of weav.ai.

Collectively, weav.ai's AI copilots - Document, Conversation, and Search - provide enterprises everything they need to build production-ready GenAI applications. weav.ai's AI copilots include specialized, ready-to-use capabilities and the complete, pre-integrated AI infrastructure stack necessary to deliver those capabilities, including integrations, prompt management, foundation models, vector databases, security, and monitoring.

GenAI apps built using weav.ai's AI copilots can:

• Extract important data and hidden insights from structured and unstructured documents, including contracts, invoices, financial statements, resumes, knowledge repositories, and emails.
• Search and converse with these documents using natural language to quickly and easily find what users need.
• Summarize the contents of these documents and match documents using criteria defined in natural language.

Weav.ai's platform is being piloted by some of the largest companies in the world including a multinational management consulting firm operating in over 40 countries, an F100 pharmaceutical conglomerate with globally distributed teams, and one of the fastest-growing e-commerce platforms in the world. The company's copilots enable enterprises to seamlessly infuse GenAI capabilities into their workflows, addressing a wide range of use-cases including: 1) ensuring contract compliance against policies and criteria defined in natural language, 2) automate insurance underwriting by extracting relevant insights from application and policy documents 3) powering enterprise knowledge search to improve employee and customer productivity, 4) auto-filling user-defined forms using unstructured content, and 5) improving the customer experience by scoring support conversations against playbooks.

Business leaders and leaders of different enterprise functions that choose weav.ai's Enterprise AI Copilots realize critical technical benefits, including:

• Putting state-of-the-art Generative AI and LLMs such as GPT4 and LLama 2 at their teams' fingertips in a production-ready state,
• Not having to hire expensive resources and experts to build their Generative AI apps because of weav.ai's low/no code approach, and
• Rapidly adding GenAI capabilities on top of their existing workflows and IT systems without having to spend months on integration projects

Today, weav.ai has emerged out of stealth and has opened its platform for beta users and customers. Sign up for a free trial account at weav.ai and experience many of the features and capabilities of the platform.

"Sierra Ventures proudly led weav.ai's seed round in 2022 as we have a belief that narrow, deeply trained LLMs will have an impact on enterprise opportunities and efficiencies," says Tim Guleri, Managing Partner at Sierra Ventures. "Key contributors to enterprise cost and compliance are large unstructured docs, like contracts, legal, and more-and weav has built the first fully integrated Generative AI infrastructure to process unstructured docs at scale."

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ABOUT WEAV.AI

weav.ai, the Enterprise AI Copilot company, provides enterprises with specialized AI copilots to help them quickly build plug-and-play Generative AI apps that are production-ready. Generative AI apps built using weav.ai's AI Copilots allow users to extract insights from structured and unstructured documents at scale, search and converse with those documents, summarize those documents, and match documents against others. Learn more at weav.ai.

ABOUT SIERRA VENTURES

Sierra Ventures is a Silicon Valley-based early-stage venture firm investing globally, focusing on core B2B enterprise and next-frontier technologies. With over four decades of experience and over $2 billion of assets under management, Sierra has created a vast network of successful entrepreneurs, Global 1000 CXOs, operational executives, and deep domain experts, providing a platform for entrepreneurs worldwide. Learn more at https://www.sierraventures.com/.

MEDIA CONTACT:

Nina Pfister, MAG PR at nina@mooringadvisorygroup.com; T: 781-929-5620.

SOURCE: weav.ai