Parakweet, a recommendation and behavior analytics startup, has secured $2 million in funding from a group of angel investors including Yammer co-founder Alan Braverman and former director of Engineering at Google David Jeske.
The startup intends to use the funds for BookVibe, their recently launched book discovery engine.
The company has developed a proprietary artificial intelligence platform that uses social media- specific natural language processing to detect and extract meaning from millions of unstructured conversations and accurately identify consumer behavior, intent and sentiment.
Angel investor Ashok Vittal also invested in the company.
BookVibe, Parakweet’s consumer-facing book recommendations product, scans a user’s social graph and extracts tweets that are actually about books. It also detects and distinguishes the person’s sentiment about the book—not the overall tweet.
For example, if a tweet reads: “I’m reading War and Peace since the weather is lousy,” BookVibe understands that lousy refers to the weather, not the book. Some of the behaviors BookVibe identifies include “intent to read”, “read” and “recommend”. Furthermore, the Parakweet platform does not require users to join or recreate yet another social network.
Parakweet was founded by a team of entrepreneurs and computer scientists including serial entrepreneur Ramesh Haridas; machine learning and search technologist Kiam Choo; and artificial intelligence software architect Ilmars Poikans.