Marqo raised $12.5 million in a Series A funding round.
The mentioned investment funds the firm should directed to promote the implementation of its search platform, through which other brands can create apps with generative artificial intelligence that is relevant and up to date.
The vector search platform unlocks the value of unstructured data for end-user search. Also, this Marqo digital product allows consumers to fully exploit the potential of retrieval-augmented generation and other business-critical apps. The relevant information is contained in the company’s press release, which was published on Tuesday, February 13.
Tom Hamer, CEO and co-founder of Marqo says that this brand was created after realizing the important role vector search will play in realizing the full potential of artificial intelligence in a person’s daily life. He also noted that the implementation of vector search is too difficult for developers and enterprises. Tom Hamer stated that Marqo has recorded the need to create a platform that not only generates excellent vector embeddings but also empowers customers with the ability to create advanced search experiences within minutes.
The company’s press release notes that its platform uses machine learning models to return hyper-relevant search results in real-time. In this case, the entire process is processed, from embedding generation to storage and retrieval. The platform can be implemented using a single application programming interface (API). This implementation is less expensive and complex than existing approaches to deploying vector search, which require combining embedding models and separate databases.
A new round of financing was led by Lightspeed. Marqo’s press release notes that as of the current moment, the total amount of investment funds received by this company is $17.8 million.
Lightspeed partner Hemant Mohapatra says that the introduction of products such as ChatGPT transforms keyword-based search systems into natural language-based systems. According to him, Marqo’s mission is to bring transformational technology to every company in the world through a simple API for developers and an enterprise-grade platform offered on-prem and in the cloud. Hemant Mohapatra says that the company’s early growth was phenomenal. He noted that Marqo helps consumers search the way they think.
In January, Patronus AI and MongoDB announced the beginning of a collaboration to provide corporate clients with the ability to automate the evaluation and testing of large language models.
Against the background of the active development of artificial intelligence and other advanced technologies, the functioning of which is carried out in the virtual space, the issue of cybersecurity is being updated. Criminals operating in the digital dimension are using increasingly sophisticated methods. Currently, victims of cybercrime are not only those who commit actions on virtual platforms but also those who, as it may seem, are outside the zone of potential threat.
Unauthorized access to a personal device is one of the most common methods of committing so-called online crimes. In this case, the user can protect himself by knowing the algorithms of hackers’ actions. It is not difficult to obtain the relevant information. For example, in the Internet search system, a user can enter a query how do I know if my phone camera is hacked? Criminals, gaining access to confidential information, begin to blackmail the victim to receive money. As technology develops, the methods of hackers’ actions will become more complicated, but this does not mean that counteraction tools will not be created.