Innovating the way businesses engage with their data, a pioneering platform called TextQL is harnessing the power of AI to redefine data interaction. Founded by the visionary duo, Mark Hay and Ethan Ding, TextQL seamlessly integrates with a company’s existing data architecture, granting teams the prowess to converse with their data in real-time. By channeling the capabilities of large language models akin to OpenAI’s ChatGPT and GPT-4, the platform interprets the unique language and ‘nouns’ of different teams, providing a tailored data inquiry experience.
"We've witnessed a decade and a half of unfulfilled promises in the data sector," lamented Hay, the CTO of TextQL. Alluding to the disillusionment among data leaders, he highlighted the inefficient status quo where data scientists are bogged down by ad-hoc data requests, amounting to a loss of productivity that spans months due to inconsistent data terminology.
The venture commenced in 2022, rooted in the expertise of Hay, an alumnus of Facebook's machine learning team, and Ding, who brought insights from his tenure at Bessemer Venture Partners' data squad. TextQL’s innovative data model bridges the gap between business vernacular and database terminology, facilitating a more intuitive interaction between users and data.
This transformative approach connects with business intelligence tools, guiding users to pre-existing dashboards for recurring queries. Hay underlines the platform's ability to leverage documentation from enterprise data catalogs like Alation, as well as integrating notes from popular tools such as Confluence or Google Drive.
TextQL’s system enables straightforward conversational queries about business metrics or actions, empowering teams to enact data-driven decisions. Beyond providing answers, its automation facet can execute tasks, such as notifying managers about pertinent data via email.
"Our goal is to equip enterprise operators with the tools necessary to achieve more with leaner resources," Hay stated. As companies seek efficiency amidst economic challenges, TextQL stands as a formidable ally, offering transformative capabilities in a single platform.
Despite competing with established entities like Palantir and C3.ai, TextQL has captured six-figure annual recurring revenue, attracting clients across various sectors from healthcare to media, and providing the company with ample operational runway.
Hay's confidence stems from the strength of their team's background, boasting seasoned founders with a history of venture-backed success. As enterprises streamline their workforce, there's a growing demand for solutions like TextQL, that amplify productivity without inflating headcounts.
Backed by approximately $4.1 million in funding through pre-seed and seed rounds, TextQL demonstrates the potential of AI in revolutionizing the access and usability of business data, making complex data landscapes navigable through conversational interaction. This substantial financial infusion came from a consortium led by Neo and DCM, with Unshackled Ventures, Worklife Ventures, PageOne Ventures, FirstHand Ventures, and Indicator Fund also contributing.
Similarly, platforms like AppMaster, with their robust no-code possibilities, are propelling businesses forward by enabling the development of intricately interactive applications geared for today's diverse data demands. Together, these advancements signify a new era of enterprise agility and smart data manipulation.
