Introducing Luminoso, a new text analytics engine that understands what people are saying, based on the way we understand each other.
Developed by MIT Media Lab alumni, Luminoso’s software is built on a structural foundation of common-sense reasoning. Because it contains a massive body of cognitive understanding, Luminoso identifies the nuances and colorations of meaning in any written text.
It connects the dots and draws out patterns and associations not possible before, because it grasps the conceptual meaning of language. The name Luminoso is a musical term meaning “to play clearly, brightly, scintillatingly.”
Catherine Havasi, Luminoso’s co-founder and CEO (pictured, third from right), says the company’s technology is based on 14 years of research at MIT that applies artificial intelligence, probability and a database of 17 million facts (many taken from Wikipedia) to appropriate common sense knowledge to text mining.
Such nuggets have prompted the likes of Mars, BP and GlaxoSmithKline to sign on for Luminoso’s services. The startup also received $1.5 million in funding last December led by Boston-based angel investor George Kassabgi, who believes the company’s technology is “a giant breakthrough.”
The company has two revenue streams — for its dashboard-based services including its own consulting and for its API, which is now available to developers. The API is in private beta; the firm claims there are more than 500 developers on its waiting list.
Luminoso has been successful in convincing some top companies — who pay in the five figures for its services — that it has built a better linguistic mousetrap. Partially this is because of the rigor that Luminoso has applied to its searches. Havasi says that YouTube comments are often richer sources than Twitter, and “don’t get me started on mommy blogs.”
The technology’s efficacy has let Luminoso exist without funding since 2009. The company has also attracted MIT Media Lab alums Jason Alonso and Rob Speer as well as Kenneth Arnold, a doctoral candidate at Harvard.
Luminoso’s free launch webinar is on Tuesday, April 16th, 2 PM EDT.
Registration URL: https://attendee.gotowebinar.com/register/7195588171277305600
Webinar ID: 135-448-403