Parakweet has raised $2 million in funding. Parakweet has developed a proprietary artificial intelligence platform that uses natural language processing to detect and extract meaning from millions of unstructured conversations taking place on social media. Parakweet will be using the funding for new product innovation and to fuel the development of BookVibe, the company’s recently launched book discovery engine.
This round of funding was led by Scott Banister (early PayPal, Powerset, and Zappos investor), Alan Braverman (Yammer and Eventbrite co-founder), and David Jeske (former Director of Engineering at Google).
?We started Parakweet to distill actionable insights from the unstructured language of social media,? stated Parakweet CEO and co-founder Ramesh Haridas. ?Today, we?re providing consumers with book recommendations based on a user?s personal interests and the interests and affinities of the people they follow. Our platform also allows companies to tap into the behavioral signals consumers are generating across social media and uncover actionable and competitive insights.?
Parakweet was founded by Ramesh Haridas, Kiam Choo, and Ilmars Poikans. The company was founded in 2010 and is based in San Francisco.