Narrative Science's core product, Quill, is a natural-language generation platform that converts data and charts into written narratives in real time. Its technology has been incorporated into BI products from Qlik, Tableau, Microsoft, Sisense and SAP, and Quill is used by government and financial customers. The company positions voice and conversational interfaces as a potential future use case for its technology and expects partnerships to become a significant portion of its business. Over the past year the company added 25 employees and now has about 100 workers, and it recently opened an office in Seattle. Narrative Science has raised $43 million altogether; CEO Stuart Frankel declined to disclose revenue. Narrative Science builds the Quill platform, an AI-powered system that integrates data from disparate sources, identifies relevant data points, and automatically generates professional, conversational narratives at scale. Its technology is used by Fortune 500 companies across financial services, government, manufacturing, retail and healthcare to replace manual narrative-generation processes. The company recently signed a software licensing agreement with USAA, which uses Quill to enhance financial advice for its members. Narrative Science will use new capital to further enhance Quill and increase investment in engineering, sales and other functional areas. The announcement highlights named customers including American Century Investments, MasterCard Advisors, the U.S. intelligence community and the NHS of England. The company positions its product as adding value where data visualizations cannot, by turning data into easily understood, actionable written content. Narrative Science builds Quill, a patented automated authoring platform that combines artificial intelligence, data analytics and editorial expertise to turn large, complex data sets into contextually relevant narrative reports. Quill produces content in multiple formats, including business reports, articles, summaries, visualizations and Tweets, enabling scaled, individualized communications and actionable reporting. The company serves multiple industries, with recent traction in financial services and ad technology, and has added leading financial institutions to its customer base. Narrative Science has participated in the FinTech Innovation Lab and was scheduled to demonstrate Quill at FinovateFall 2013. The company emphasizes using automation to deliver high-touch client service and real-time campaign insights that are impractical to produce solely with human resources. It plans to continue expanding product capabilities and commercial outreach using newly secured funding. Narrative Science develops AI and communications technology that converts structured datasets into prose, with its flagship product Quill used to automate sports and finance content. The company said it will build a version of Quill for In-Q-Tel’s government customers, including the Department of Homeland Security. AllThingsD reports that the CIA has invested an undisclosed sum in Narrative Science through its venture arm In-Q-Tel. In-Q-Tel typically backs secure business software providers and its investment is often treated as a stamp of approval that opens doors to government contracts. The articles do not disclose the amount invested, the instrument, revenue, users, or other financial metrics. Narrative Science’s algorithms are being positioned for government use in addition to media and enterprise applications.

Total raised

$33M

Funding rounds

4

Latest round

Series D

Latest activity

Apr 2017