Investors Back AI Startup Company Copysmith With $10 Million Seed Round

By James White | Saturday, 01 May 2021 | Startup, Tech

Artificial intelligence (AI) allows business owners to offload tedious and complex tasks at their company. Whether it is determining the most efficient delivery path for an ecommerce business or trying to discover the chemical formula of a new pharmaceutical at a biotech company, AI technology has revolutionized business models across a multitude of different industries. Startup company Copysmith harnesses powerful, deep-learning technology to generate human-like creative content. The AI startup recently found support from investors and closed a $10 million seed round for the company.

“In partnership with PSG and HVL, we believe Copysmith is poised for dramatic growth,” said Jasmine Wang, co-founder of Copysmith. “In our view, our platform has always been about the collaboration between incredible technology and incredible humans. In that spirit, we are thrilled to welcome more incredible humans to the team, who we believe bring the expertise, experience and insight needed for Copysmith’s continued growth.”

Investor Harmony Ventures Labs backed Copysmith in the latest financing round. Funds were advised by PSG, an equity firm focused on software and technology-enabled services. Copysmith will use the new capital to expand its team of engineers and designers.

Alongside the new funding, Copysmith also announced that Shegun Otulana, Founder and Managing Partner at Harmony Ventures Labs, is assuming the role of CEO at the AI startup company. Otulana previously founded successful startup companies TheraNest and Therapy Brands.

Generating Marketing Content With AI

Founded in 2020 by Wang alongside her sister and entrepreneur Anna Wang, Copysmith draws on the powerful language processing ability of AI to produce human-like creative content. The content created by the startup covers a variety of topics and uses — from providing small business advertisements to product descriptions.

Using a Generative Pre-trained Transformer (GPT-3) model, the AI business enables the production of creative content for advertising campaigns, blogs, branding, and more. Press releases, Facebook Ads, and Amazon product descriptions are just a few of the business applications of the Copysmith software.

The startup’s AI generates content one word at a time so that each piece of writing is unique. Additionally, the company offers a limited number of free plagiarism checks for its software, with more available for purchase in different pricing plans.

“We believe our platform allows anyone to focus on big, creative and strategic choices for their business and quickly scale contextual messaging that delivers results,” said Otulana. “I don’t think that any other GPT-3 company has the experience and expertise we have as a team, and I am pleased to be a part of a team seeking to invent the future of marketing and a part of, what I view to be, a new AI industrial revolution.”

Tapping Into Natural Language Processing

Market research projects the global natural language generation market to reach over $1 billion by 2025 at a CAGR of 19.8%. The startup company seeks to tap into the potential of AI technology and natural language processing to automate tedious tasks for businesses large and small.

About the Author

James White

James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.