Searchable.ai, the developer of a conversational search engine, closed a $4 million additional seed funding round.
Susquehanna International Group and Omicron Media co-led the financing round, with participation from Defy Partners, NextView Ventures, and leading angel investors.
The company plans to use new funds to hire additional scientists and engineers to further develop its conversational search engine.
There are approximately 1.5 billion websites worldwide, but over 1 trillion work documents are produced each year, according to data provided by the company. These work documents are not universally searchable, yet they often contain valuable information to a knowledge worker, team, and enterprise. The problem is only worsening as work information is increasingly fragmented across disparate document formats and local/network/cloud storage locations.
According to McKinsey, the average knowledge worker spends 20% of their workweek searching for information they need to do their job.
As modern teams are increasingly distributed and relying more on collaboration and productivity tools – with information spread across emails, chats, cloud storage, laptops, shared drives, and traditional files – Searchable.ai aims to make it easy to find exactly what they need to be more productive.
The company has raised a total of $6 million in seed funding, since its founding in 2019.