Mark Hay and Ethan Ding are on a mission to revolutionize corporate decision-making through data-driven insights. As co-founders of TextQL, they envision a future where businesses can harness the power of artificial intelligence (AI) to extract intelligence from their data effortlessly.
The Vision Behind TextQL
Hay and Ding, both seasoned engineers, recognized a common challenge faced by businesses: the struggle to derive actionable insights from their vast datasets. They conceptualized TextQL as a platform bridging the gap between a company’s data infrastructure and advanced language models like OpenAI’s ChatGPT and GPT-4. Their goal is to empower business teams with the capability to query their data dynamically, using natural language that aligns with their domain-specific terminology and semantics.
According to Hay, the prevailing issue lies in the disconnect between data teams and business stakeholders. Traditional approaches to data analysis often involve lengthy processes and misinterpretations due to disparities in terminology. TextQL aims to address this by providing a user-friendly interface that facilitates seamless interaction with data, reducing dependency on manual data extraction and interpretation.
How TextQL Works
TextQL employs a sophisticated data model to map a company’s database to relevant business entities, such as orders, items, dealers, SKUs, and inventory. By integrating with existing business intelligence tools and data catalogs like Alation, TextQL streamlines the process of querying data and accessing relevant insights. Users can leverage a chatbot interface to pose inquiries, ranging from simple data queries to complex analytical tasks.
Moreover, TextQL incorporates automation capabilities, enabling users to automate routine tasks and trigger predefined actions based on data insights. For instance, the platform can initiate email notifications to managers or execute predefined workflows in response to specific data conditions.
Market Adoption and Growth Trajectory
Despite being a relatively new player in the market, TextQL has gained traction across diverse industries, including healthcare, financial services, manufacturing, and media. Its innovative approach to data intelligence has attracted a growing customer base, with annual recurring revenue reaching six figures.
Hay remains optimistic about TextQL’s prospects, citing its resilience in navigating economic challenges and addressing the evolving needs of modern enterprises. With a seasoned team of veteran founders and strong investor backing, TextQL is poised for continued growth and innovation in the competitive landscape of enterprise data analytics.
Venture Backing and Future Outlook
TextQL’s success story is underscored by its strategic investments, having raised $4.1 million in funding from prominent investors, including Neo, DCM, Unshackled Ventures, Worklife Ventures, and PageOne Ventures. The capital infusion has provided TextQL with the necessary resources to expand its product offerings, enhance its market presence, and accelerate customer acquisition efforts.
Looking ahead, TextQL aims to further refine its platform, incorporating advanced AI capabilities and expanding its customer base globally. With a steadfast commitment to empowering businesses with data intelligence, TextQL is poised to redefine the future of enterprise decision-making and drive innovation in the realm of AI-powered analytics.
