Funding

[Funding alert] London-based Fluent Secures €6.9 Million in Seed Funding

Mar 7, 2024 | By Startup Rise EU

London-based Fluent secures €6.9 million in seed funding. Hoxton Ventures and Tiferes Ventures led this round. The new funding will be used to grow Fluent's staff of AI and machine learning specialists throughout Europe and quicken the development of its innovative technologies.

London-based Fluent secures €6.9 million in seed funding. Hoxton Ventures and Tiferes Ventures led this round. The new funding will be used to grow Fluent's staff of AI and machine learning specialists throughout Europe and quicken the development of its innovative technologies.

Founded in 2021, it is an AI-powered data analyst that saves data teams the headache of having to manually respond to ad hoc data queries by allowing non-technical team members to ask questions directly of their data in plain English and receive answers in a matter of seconds.

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Robert Van Den Bergh, CEO at Fluent, said: “On average, 40% of a data team’s time is spent answering questions from across their business. A lot of these questions are easy to answer for the data team but take them away from the deeper, more strategic analysis that can be transformative to their business. With Fluent’s natural language interface, we’re helping team members self-serve on their data questions.”

Fluent's AI can answer any question regarding a specific client, a recently announced feature, or the financial performance of a division. In the past two years, Fluent has secured marquee clients, such as Bain & Company, in an effort to democratize data accessible.

Ian Weber, Partner at Bain & Company, commented: “Fluent’s platform has helped us leverage LLMs to interrogate and deliver insights from large complex datasets. Fluent allows our non-technical users to quickly get the answers they need efficiently and accurately, especially for questions too complex or specific for pre-built data dashboards. We’re excited to explore how Fluent can help our clients better access data and insights in the future.”

Cameron Whitehead, CTO at Fluent, added: “Our clients have adopted business intelligence tools, like Tableau and Looker, expecting their non-technical team members to interrogate data on their own but have quickly found that these tools are too technical, resulting in only a small percentage of team members actually using them. Fluent is built to cater to those team members that aren’t data experts.”

Organizations have been testing the technology on initiatives since the debut of OpenAI's ChatGPT in 2022 to see where they can enhance efficiency, and one of the more well-liked uses has been Excel file analysis.

Read also - San Sebastian-based Multiverse Computing Secures €25 Million in oversubscribed Funding

However, adoption is constrained by worries about accuracy and trust, and enterprise-ready solutions that can grow with organizations are still in their infancy. This gap is filled by Fluent, which offers an enterprise-ready solution that data teams can easily curate, manage, and rely on.

Charles Seely, Partner at Hoxton Ventures, commented: “In a data-driven world, the current approach to data analysis is selling businesses short, creating permanent bottlenecks in their organisations that slow everyone down and hamper decision-making. Fluent’s approach is not just innovative, it’s urgently needed, and we’re excited to be part of their journey in reshaping how businesses interact with data.”

Clark Valberg, Managing Partner of Tiferes Ventures and Co-Founder of InVision, added: “Fluent enables an entirely new paradigm of collaborative intelligence by democratizing real-time access to data-driven insights at every organisational altitude. I believe this is the most significant strategic and cultural evolution happening inside the modern enterprise.”

About Fluent

With Fluent's AI, you can directly ask data queries and receive quick insights, empowering your decision makers. At Fluent, they take great pride in protecting the information of their clients. For this reason, they highly appreciate any feedback from the community that enables them to identify security holes in their product.

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