January 10th, 2020
REDWOOD VENTURES INVESTS IN ATEXTO'S MOST RECENT ROUND, THE HUMAN FACTOR IN ARTIFICIAL INTELLIGENCE FOR SPEECH RECOGNITION
Redwood Ventures invested in Atexto's latest round of capital, following an exhaustive selection and due diligence process. The round also involved several angel investors and other venture capital funds from Latin America and the United States such as Avalancha Ventures, Dux Capital, MC Capital, Innogen Capital, and Polígono Capital.
Atexto is a voice and chat robot training software that helps companies adopt artificial intelligence to listen, understand and talk to their clients by automatic means. It provides service to bots in Spanish and English, in all accents; and will soon be launching four European and two Asian languages. Atexto's vision is to be the human factor in artificial intelligence for speech recognition.
Brenda Mana and Esteban Gorupicz, former university colleagues, serial entrepreneurs and with more than ten years of experience in open collaboration schemes applied to speech processing; lead the efforts of technological strengthening and international commercial expansion of their full-remote team, in a market that is expected to continue growing at double-digit rates for the next five years.
"Without a doubt Atexto is solving a problem for large technology companies that develop artificial intelligence algorithms applied to voice data, proof of which is that they have managed to grow more than 700% this year. We are excited to join such a talented team and contribute in their growth". Mentioned Marco Villaseñor, General Partner of the fund.
With the formalization of this investment, Redwood Ventures completes the tenth investment of its first portfolio and reaffirms its leadership by making investments in technology-based companies with great scalability.