Luminoso

Luminoso, a Cambridge, MA-based text analytics and artificial intelligence company, spun out of the MIT Media Lab and its crowd-sourced Open Mind Common Sense (OMCS) project.[1][2][3][4]

Luminoso
TypePrivately held company
IndustryNatural language understanding
Founded2010 (2010)
HeadquartersCambridge, Massachusetts, United States
Key people
CEO: Adam Carte, Founders: Catherine Havasi, Dennis Clark, Jason Alonso, Robyn Speer
Products
  • Luminoso Daylight
  • Luminoso Compass
Number of employees
50-100
Websitewww.luminoso.com

The company has raised $20.6 million in financing[5] and its clients include Sony, Autodesk, Scotts Miracle-Gro, and GlaxoSmithKline.[1][2][4][6][7]

History

Luminoso was co-founded in 2010 by Dennis Clark, Jason Alonso, Robyn Speer, and Catherine Havasi,[8] a research scientist at MIT in artificial intelligence and computational linguistics.[9] The company builds on the knowledge base of MIT’s Open Mind Common Sense (OMCS) project,[1][10][6] co-founded in 1999 by Havasi, who continues to serve as its director.[11] The OCMS knowledge base has since been combined with knowledge from other crowdsourced resources, games with a purpose, and expert-created resources to become ConceptNet.[12] ConceptNet consists of approximately 28 million statements in 304 languages, with full support for 10 languages and moderate support for 77 languages.[13] ConceptNet is a resource for making an AI that understands the meanings of the words people use.[13]

During the World Cup in June 2014, the company provided a widely reported real-time sentiment analysis of the U.S. vs. Germany match, analyzing 900,000 posts on Twitter, Facebook and Google+.[1][14][15]

Applications

The company uses artificial intelligence, natural language processing, and machine learning to derive insights from unstructured data such as contact center interactions, chatbot and live chat transcripts, product reviews, open-ended survey responses, and email.[3][16] Luminoso's software identifies and quantifies patterns and relationships in text-based data, including domain-specific or creative language.[2][10][17] Rather than human-powered keyword searches of data, the software automates taxonomy creation around concepts, allowing related words and phrases to be dynamically generated and tracked.[2][10]

Commercial applications include analyzing, prioritizing, and routing contact center interactions; identifying consumer complaints before they begin to trend; and tracking sentiment during product launches.[2][3][18] The software natively analyzes text in fourteen languages, as well as emoji.[19]

Products

Luminoso's technology can be accessed via two products: Luminoso Daylight and Luminoso Compass.[18][20] Luminoso Daylight enables a deep-dive analysis into batch or real-time data, whereas Luminoso Compass automates the categorization of real-time data.[18][20] Both products offer a user interface as well as an API.[19] Luminoso's products can be implemented through either a cloud-based or an on-premises solution.[19]

Research

Luminoso continues to actively conduct research in natural language processing and word embeddings and regularly participates in evaluations such as SemEval.[21][22] At SemEval 2017, Luminoso participated in Task 2, measuring the semantic similarity of word pairs within and across five languages.[22] Its solution outperformed all competing systems in every language pair tested, with the exception of Persian.[22]

Recognition

Luminoso has been listed as a "Cool Vendor in AI for Marketing" by Gartner,[23] and has also been named a "Boston Artificial Intelligence startup to watch" by BostInno.[24]

In May 2017, Luminoso was recognized as having the Best Application for AI in the Enterprise by AI Business, and was also shortlisted as the Best AI Breakthrough and Best Innovation in NLP.[25]

Competitors

Major competitors include Clarabridge and Lexalytics.[26][27]

Investors

Acadia Woods led a $6.5 million round of funding, with Japan’s Digital Garage, in July 2014.[8][28][29] The company previously raised a $1.5 million seed round.[8][29]

The company closed a $10M series B funding in December 2018, led by DVI Equity Partners, with participation from Liberty Global Ventures, DF Enterprises, Raptor Holdco, Acadia Woods Partners, and Accord Ventures, among others. [30]

References
  1. Lohr, Steve (27 June 2014). "The U.S.-Germany Match Through a Social Media Lens". New York Times. Retrieved 3 March 2015.
  2. Rusli, Evelyn (14 April 2014). "Firms Use Artificial Intelligence to Tap Shoppers' Views". The Wall Street Journal. Retrieved 3 March 2015.
  3. Alba, Davey (12 February 2015). "The Startup That Helps You Analyze Twitter Chatter in Real Time". Wired. Retrieved 3 March 2015.
  4. Noyes, Katherine (11 February 2015). "Luminoso to enterprises: Here's what all that chatter really means". PC World. Retrieved 3 March 2015.
  5. Miller, Ron (5 March 2018). "Luminoso Raises $12.6M In Series A1 Financing". Finsmes. Retrieved 13 July 2018.
  6. Darrow, Barb (11 February 2015). "Luminoso brings its text analysis smarts to streaming data". GigaOm. Retrieved 3 March 2015.
  7. "GlaxoSmithKline Case Study: Mining Online Discussions for Deeper Customer Insight - TechEmergence.com". TechEmergence.com. Retrieved 2017-06-06.
  8. Kokalitcheva, Kia (2 July 2014). "Luminoso gets $6.5M to turn unstructured text into actionable data". Venture Beat. Retrieved 3 March 2015.
  9. Harris, David (16 October 2014). "40 Under 40: Catherine Havasi of Luminoso". Boston Business Journal. Retrieved 3 March 2015.
  10. Miller, Ron (2 July 2014). "Luminoso Lands $6.5M In Series A To Keep Building Cloud Text Analytics Service". TechCrunch. Retrieved 3 March 2015.
  11. Havasi, Catherine (9 August 2014). "Who's Doing Common-Sense Reasoning And Why It Matters". TechCrunch. Retrieved 3 March 2015.
  12. "ConceptNet". www.conceptnet.io. Retrieved 2017-07-17.
  13. conceptnet5: Code for building ConceptNet from raw data, commonsense, 2017-07-15, retrieved 2017-07-17
  14. Harris, David (15 May 2014). "How Cambridge startup Luminoso is helping to power Sony's World Cup social network". Boston Business Journal. Retrieved 3 March 2015.
  15. Schroter, Will (17 June 2014). "6 U.S. Startups Winning at the World Cup". Forbes. Retrieved 3 March 2015.
  16. "Who Uses Us". luminoso.com. Retrieved 2017-06-06.
  17. Noyes, Katherine (11 February 2015). "Luminoso to enterprises: Here's what all that chatter really means". Networked World. Retrieved 3 March 2015.
  18. "Analytics". luminoso.com. Retrieved 2017-06-06.
  19. "About". luminoso.com. Retrieved 2017-06-06.
  20. "Compass". luminoso.com. Retrieved 2017-06-06.
  21. "Speer". aaai.org. Retrieved 2017-06-06.
  22. Camacho-Collados, Jose (August 3–4, 2017). "SemEval-2017 Task 2: Multilingual and Cross-lingual Semantic Word Similarity" (PDF). Proceedings of the 11th International Workshop on Semantic Evaluations (SemEval-2017): 15–26. doi:10.18653/v1/S17-2002. S2CID 7665329.
  23. "Cool Vendors in Artificial Intelligence for Marketing". www.gartner.com. Retrieved 2017-07-17.
  24. "Here Are 9 Boston Artificial Intelligence Startups to Watch". BostInno. Retrieved 2017-07-17.
  25. "AI Summit London Celebrates Industry's Leading Lights". AI Business. 2017-05-12. Retrieved 2017-06-26.
  26. Wasserman, Todd (12 April 2014). "MIT's Luminoso Claims It's Cracked the Code on Text Mining". Mashable. Retrieved 3 March 2015.
  27. Grimes, Seth (28 February 2013). "Text Analytics in 2013". breakthroughanalysis.com. Breakthrough Analysis.
  28. Primack, Dan (2 July 2014). "Deals of the day: BlaBlaCar raises $100 million". Fortune. Retrieved 3 March 2015.
  29. Temple, Jason (2 July 2014). "Say What? MIT Spin-Out Helps Businesses Translate Online Chatter". Re/Code. Retrieved 3 March 2015.
  30. "Luminoso Secures $10M in Series B Financing". Finsmes. 2018-12-06.
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