Bellwethr, a Kansas City, Missouri-based company that focuses on helping other businesses grow through the uses of AI technology has received $2.5 million in seed financing.
Royal Street Ventures led the round, with Techstars, Stout Street Capital, KCRise Fund, SaaS Ventures participating. Bellwethr expects to use the funds to scale quickly.
Bellwethr uses tech to automate various business processes. The company achieves automation by developing artificial intelligence (AI) that can learn from feedback about how to do perform work more efficiently and effectively. These continually optimizing robots are used by outside companies to achieve the desired outcome by completing a series of goals with positive outcomes, culminating in the final outcome being fulfilled.
The robots work by analyzing data to determine what actions they have performed that result in positive effects. The robots then use that information to develop and update themselves so that they are better equipped to deal with future tasks. One of the most interesting and exciting aspects of the company’s service is that it develops the product and then sells it to a company so that there are no third-party handlers of the data.
This is extremely relevant as the security and privacy of users have become one of the most controversial topics within the AI community over the last few years. The sale of the program to outside companies also makes the use of AI technology much easier for people who do not have technological backgrounds.
The company co-founders are Daron Jamison and Matt Moody. They founded Bellwethr 2016 based on the idea that AI technology should be available to everyone, especially the people that understand the problems AI can fix. The co-founders believed that it was essential to get AI tech into the hands of as many people as possible to realize the technologies high potential.
The biggest problem that they foresaw was that the groups of people who develop AI are rarely the same people who work with the specific problems that AI has the potential to solve. To counter this road-block they developed their product, an easy-to-use software, which allows anyone, specifically people who have little to no technical experience, to customize their own robot.
Royal Street Ventures is a venture capitalist group that works in Kansas City, Missouri and Park City, Utah. They have partnered with local universities such as Utah State and have worked to empower young people specifically. They work with many venture funds across the Midwest and are currently partnered with the Kauffman Foundation, a prominent Kansas City group that works to promote entrepreneurial spirit.
Visit www.bellwethr.com to learn more about this company.