202426 Apr

North Texas Angel Network (NTAN) Members Invest in and Exited from Responsum, an AI Technology Platform, in Record Time

Summary

(DALLAS, TX - April 25, 2024) - The North Texas Angel Network (NTAN), an accredited angel investor organization, is excited to announce a portfolio startup Responsum, a company that developed a generative AI and natural language processing platform to help organizations unlock productivity, was acquired by Elixirr, a global consulting firm.Ichan Stall, NTAN Co-Chairman and the due diligence lead, shares, "We are excited to be part of Responsums journey and quick exit! Steve Steinberg and Adam Hofmann, the co-founders, were wonderful to work with and enabled us to have a smooth due diligence process, ultimately leading NTAN members to invest in Responsum.On NTANs investment, Responsums CEO Steve Steinberg notes, Plugging into the NTAN network enabled us to make important connections with customers and other investors, propelling our startup forward at a critical moment in our growth.Responsums platform enables enterprises to quickly prototype, test, and deploy generative AI solutions that leverage internal files, data, and APIs to drive measurable productivity gains without sacrificing security. The platform has been used to increase the productivity of sales teams, boosting the accuracy and speed of underwriters, transforming how research analysts review and assess company performance, and streamline access to important company knowledge across all departments.Jeff Murphy, NTANs Executive Director, adds, Responsum established a relationship with NTAN in 2022, and it was compelling to see how our investors supported Responsum as they continued to grow and work to complete their seed round. The nonprofit, member-led organization reviews investment opportunities across industries, including medical device and service companies, software and hardware technology, and construction innovation, among others. The platform is used across multiple industries to eliminate repetitive work, train and upskill employees, increase customer experiences, streamline workflows and scale manual processes, and more.

Source: Linkedin

Funding

$1.5M
Amount
Apr 26 2024
Date
-
Investor
Responsum
Company

Classifications

Companies