TextCortex raises $1.2 million to advance pioneering AI-based writing companion

News, Portfolio

22nd June 2022

We are elated to announce our latest investment in TextCortex, a Berlin-based startup offering AI-based writing companions for professional content-makers and copywriters, together with other established early-stage investors Speedinvest and Entrepreneur First, as well as prominent business angels Amar Shah (co-founder of AI company Wayve) and Holger Hengstler.

Utilizing its own proprietary natural language generation engine NeoCortex, the company is developing specialized algorithms that create authentic, high-quality natural sounding writing for content and copy marketing cases, such as blog posts, descriptions, emails and a host of other content needs.

New Generation of AI generating natural-sounding language to meet huge business demand

“New machine-learning models can achieve levels of creativity that approach humans, allowing AI to accelerate the creative process” says co-founder Dominik Lambersy. “Similar productivity gains we know from machine translation are now able to happen with machine creation, letting algorithms create first and humans improve second.”

TextCortex’s solution takes simple human-based instructions such as a single headline or a few bullet points as instructive guidance and creates authentic-sounding paragraphs and articles in the matter of a single click. The resulting output from NeoCortex can be tailored for specific purposes, such as SEO-optimized blog articles, outreach emails, social media posts, descriptions for products and services, websites, ad and marketing copy.

TextCortex’s technology is mainly accessible as a freemium browser extension in the Chrome web store, which integrates their AI technology into 20 different platforms covering major email,  document, marketing, eCommerce, CMS and CRM software vendors. On those platforms, the TextCortex extension acts as a co-creation companion that helps users from the very beginning of the creation process.

Growing Market Opportunity for Effective AI-Based Solutions

As more businesses compete for the attention of online audiences, copy- and content-writing needs have exploded, with the company estimating that 200 million professionals around the globe are currently struggling to meet the rising demands. This leaves professionals as well as businesses looking for effective solutions to complement and accelerate human creativity for digital content.

Currently, 20% of their user base has an eCommerce affiliation, using their solution on platforms such as Shopify and WooCommerce. The company also sees broader interest from SMEs, freelancers, and students who are using it for creative writing, marketing, sales or communication.

Funding Will Be Used to Scale Core Team and Improve Technology

The round was led by renowned European VC firm btov Partners with the participation of Speedinvest, Entrepreneur First, and prominent business angels Amar Shah (co-founder of AI company Wayve) and Holger Hengstler.

“As an early investor in AI platforms such as DeepL, we were impressed by the depth, robustness and creativity of TextCortex’s solution. The market opportunity for leveraging natural language generation for marketing purposes is enormous, and Ceyhun and Dominik have the right technology and experience to execute on it.”  Andreas Goeldi, Partner at btov Partners

The company, founded by serial entrepreneurs Ceyhun Derinbogaz and Dominik Lambersy, will use the investment to scale the core team, expand the user base for the chrome extension and further develop the capabilities of NeoCortex to become a more resource efficient European contender in the global race of large language AI.

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