Obviously.ai, which helps business users in doing predictive analytics in less than a minute, has closed its funding round led by Arka Venture Labs, a first of its kind India-US cross-border accelerator fund that has been launched with three VC firms coming in as Anchor LPs.
Apart from Arka Venture Labs, Obviously AI has several investors that include Berkeley Skydeck, Nvidia, Sequoia Capital (Scout fund), and more.
Obviously AI was founded on the belief that business users should be able to get predictive insights from their data, without waiting on an engineer. Their mission is to make data science effortless by enabling anyone to run complex data predictions and analytics, simply by asking questions in natural language with no code, no special training and all in less than minute.
The tech startup has closed its funding round with Arka Venture Labs leading it.
How Obviously.AI Works
Obviously AI uses state-of-the-art natural language processing to break apart a question, interpret it and find the right data. Then to make predictions, it runs hundreds of machine learning algorithms in parallel and finds the right algorithm for your dataset. Finally, it identifies top attributes that impact the outcome you are trying to predict and delivers highly-accurate reports in under a minute.
Here are the sorts of straight-forward, yet vitally important predictive and analytical questions Obviously AI can address:
- “Which users are most likely to buy again?”
- “Age and location of user paying more than $500?”
- “Which customers are likely to cancel their subscription?”
- “Will Tim Smith upgrade his plan?”
The platform is ideal for a range of small and medium businesses or small departments of larger companies.
For example, in retail the software can optimize assortments, predict inventory burn or forecast staffing. For healthcare companies it can assist administrators to predict and prevent hospital readmissions, predict which patients are less likely to adhere to prescribed drug regimen and create the right intervention plan to increase medication adherence as well as help predict appointment no-shows.
Other appropriate use cases include insurance, marketing, banking, gaming and SaaS. The platform is available in free, Pro and Pro Plus versions.
We realized that business users often cared about getting decision making insights about their customers, products and its usage. But often had to wait for weeks on a data engineer to get a single question answered.” said Nirman Dave, Co-founder and CEO, Obviously AI. “We have been on a mission to make data science effortless just by asking questions. It’s amazing what marketers, salespeople and other non-technical business users can learn when they use our platform.” quoted Tapojit Debnath, Co founder and CTO.
About Arka Ventures
Arka Venture Labs is the first of its kind India-US cross-border accelerator fund that has been launched with three VC firms coming in as Anchor LPs. They are Blume Ventures, Benhamou Global Ventures (BGV), and Emergent Ventures. Theyprovide founders with a combination of seed capital, mentoring, access to Silicon Valley ecosystem and infrastructure support. They are open to B2B startups with a strong potential in the US, backed by strong core technology and economic differentiators.