Parakweet Raises $2m for Social Media NLP Tools

Artificial intelligence firm Parakweet has raised $2m in angel investment, and will use it to extend its social media mining platform, which is based on natural language processing (NLP).

Founded in 2010 and based in San Francisco, the firm offers technology which provides product recommendations to consumers and social media analytics and metadata to global media companies.

The funding was led by a group of investors including Scott Banister, an early investor in PayPal, Zappos and Powerset; Alan Braverman, co-founder of Yammer and Eventbrite; David Jeske, former Director of Engineering at Google; and other angel investors and entrepreneurs.

Parakweet CEO and co-founder Ramesh Haridas (pictured) comments: 'We're inspired to have the backing and support of such a notable group of angel investors and tech entrepreneurs. With this funding, we've taken a decisive step to transform how meaning and understanding is derived from massive amounts of social media, which often includes slang, abbreviations and no punctuation - something that Parakweet is using natural language processing to solve.'

Web site: www.parakweet.com .