Vectara recognized for achievements in GenAI

NEW YORK, NY, UNITED STATES, June 20, 2023/EINPresswire.com/ -- CB Insights today named Vectara to its seventh annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.

"This year’s AI 100 cohort are developing game-changing innovations that meaningfully impact the world around them," said Brian Lee, SVP of CB Insights’ Intelligence Unit. “From healthcare to climate tech, we’ve seen incredibly novel applications of AI, particularly in the generative AI space. Our winners are shaping the future of AI and its possibilities, and as the future unfolds, I cannot wait to see what they accomplish next.”

“Vectara is honored to be recognized as a leader in the Generative AI space,” says Vectara co-founder and CEO, Amr Awadallah. “Our Grounded Generation approach seeks to solve the hallucination issue associated with Large Language Models.”

Utilizing the CB Insights platform, the research team picked these 100 private market vendors from a pool of nearly 9,000 companies, including applicants and nominees. They were chosen based on CB Insights datasets — including R&D activity, proprietary Mosaic scores, business relationships, Yardstiq transcripts, investor profiles, news sentiment analysis, competitive landscape, and team strength — and criteria such as tech novelty and market potential. The research team also reviewed thousands of Analyst Briefings submitted by applicants.

Vectara was founded by early team members on the AI Research team at Google and recently raised $28M in seed funding. Vectara has leveraged this pedigree to develop foundational models with best-in-class retrieval capabilities incorporated into products spanning conversational AI chatbots and question-answering.

Quick facts on the 2023 AI 100:

● Equity funding and deals: Since 2019, the 2023 AI 100 cohort has raised nearly $22B — driven by OpenAI’s $13B worth of investments from Microsoft — across 223 deals.
● Unicorns: There are 15 companies with $1B+ valuations on the list.
● Most Represented Categories: The cohort is broken down across 14 industries, 19 cross-industry applications, and 11 categories of AI development tools.
● Geographic distributions: This year’s winners represent 13 different countries across the globe. Sixty-seven of the selected companies are headquartered in the US. The UK comes in second with 10 winners, and Canada follows closely with 7. Other countries home to a winner/winners on this year’s list include the Netherlands, Sweden, China, and Germany.

About CB Insights

CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.

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About Vectara

Vectara is a GenAI conversational search and discovery platform that allows businesses to have intelligent conversations utilizing their own data (think ChatGPT, but for your data). Developer-first, the platform provides an easy-to-use API and gives developers access to cutting-edge NLU (Natural Language Understanding) technology with industry-leading relevance. The platform ensures data security and privacy with strong encryption while ensuring no customer data is used for training models. With Vectara’s Grounded Generation, businesses can quickly, safely, and affordably integrate best-in-class search and question-answering into their application, knowledge base, website, chatbot, or support helpdesk. To learn more, visit www.vectara.com, or experience it at asknews.demo.vectara.com.

Carly Bourne
Vectara
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