CB Insights has named Text IQ to the AI 100, a prestigious ranking of the 100 most promising private artificial intelligence companies in the world. Yesterday, CB Insights CEO and co-founder Anand Sanwal revealed the second annual list at the A-ha! conference in San Francisco, where companies were recognized in front of an audience of 400 senior innovation executives from around the world.
"Last year's AI 100 enjoyed amazing success in the year since earning this recognition. 55 of them went on to raise additional funding nearing $2B and 5 were acquired," Sanwal said.
"I'm happy that CB Insights is able to shine a light on the founders and companies that will revolutionize these industries, and look forward to seeing what they do in 2018 and beyond," he continued.
Text IQ uses AI technology to prevent high-stakes legal and compliance disasters, with customers including Fortune 200 companies, Am Law 100 firms, government agencies, and tech giants. Its proprietary software is able to efficiently analyze big data in order to better identify sensitive, compromising, and privileged documents, including those frequently overlooked by human reviewers.
The company has supported some of the most high-profile litigations and government investigations in recent news and is on track to be one of the fastest-growing B2B technology companies in Silicon Valley.
"We're honored to appear on the AI 100 list alongside so many other incredible companies," commented co-founder and CEO Apoorv Agarwal. "It's an incredibly gratifying way to cap our momentum this year."
"This recognition reflects our team's tremendous work in 2017, and incentivizes us to continue to solve big problems in the risk and regulatory compliance sector," added co-founder and COO Omar Haroun. "We're thrilled to have been included."
The CB Insights research team selected the AI 100 companies based on competitive criteria, examining company-submitted data along with the company's Mosaic Score, which measures the overall health and growth potential of private companies and can predict its momentum, market health, and financial viability.