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Adext Raises $3M

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PALO ALTO, Calif., May 8, 2017 — Adext Inc., an artificial intelligence (AI) and machine learning (ML) startup, raised $3 million at a $20 million valuation in December 2016. The firm went from $100,000 in starting capital to a $20 million valuation in less than a year of operations, making it one of the most significant seed rounds in history for a Hispanic-born AI startup. “Our sole purpose and responsibility is to help businesses grow and increase their sales through artificial intelligence and machine learning,” said Daniel Molano, CEO of Adext. “We have built the first and currently only...Read full article

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    Published: May 2017
    Glossary
    artificial intelligence
    The ability of a machine to perform certain complex functions normally associated with human intelligence, such as judgment, pattern recognition, understanding, learning, planning, and problem solving.
    machine learning
    Machine learning (ML) is a subset of artificial intelligence (AI) that focuses on the development of algorithms and statistical models that enable computers to improve their performance on a specific task through experience or training. Instead of being explicitly programmed to perform a task, a machine learning system learns from data and examples. The primary goal of machine learning is to develop models that can generalize patterns from data and make predictions or decisions without being...
    BusinessAdextartificial intelligencemachine learningfundingcapitalAmericas

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