Ann Arbor tech startup Clinc will add nearly 40 employees and open a new office after raising $52 million in a Series B round of financing.
Clinc creates artificial intelligence (AI) that converses with users in natural language. Its product is used by companies like USAA, Ford, Isbank, and Barclays.
"Imagine Siri on steroids," says Emma Furlong, Clinc director of marketing. "It understands messy language, goes back and forth, and really understands human speech."
The capital raised will allow Clinc to invest in more product innovation and in expanding its headquarters. Clinc plans to open a new 26,000-square-foot office at 200 S. First St. in Ann Arbor by early 2020. By the end of the year, the company will also add 40 employees in positions like software engineering, web development, sales, and customer success.
Furlong attributes Clinc's success to its product capabilities and the culture of research within the company. Clinc has its own research department where employees conduct and publish research for the AI industry.
"We are constantly publishing academic papers, and we keep it in house, which keeps us two or three steps above the market," Furlong says.
Despite rapid growth since opening in 2016, Clinc plans to maintain its Ann Arbor roots. With the University of Michigan nearby, Furlong says Clinc has access to research assets and a vast talent pool that will allow Clinc to continue its growth.
"Ann Arbor is a great place to do this type of work," Furlong says. "It's more affordable than Silicon Valley and a great place to live and work. We are proud and committed to keep our headquarters and management here in Ann Arbor."
Emily Benda is a freelance writer based in Ann Arbor. You can contact her at email@example.com.
Photos courtesy of Clinc.