TheySay, a software spin-out from Oxford University, has secured £1m ($1.51m) from University of Oxford Isis Fund, managed by Parkwalk Advisors, and the IP Group.
The company is developing a text analytics artificial intelligence capable of crunching big data. Its software takes unstructured data, and puts a narrative to it, allowing users and machines to determine what can be derived from it. Text analytics is a market currently estimated to be worth around $2bn globally, and growing at an annual rate of 25%.
The investment comes at the same time as Isis Innovation releasing data which shows that the tech transfer office has had a record breaking year for Oxford. It has supplied 20 companies over the past year with proof-of-concept funding, equalling £2.6m worth of investment. The office is currently managing two seed funds, the University Challenge Seed Fund and the Oxford Invention Fund.
It can also draw on…
