Textql aims to incorporate AI-powered intelligence into business data analysis
2 mins
Published by: Markus Ivakha
16 February 2024, 07:50PM
Mark Hay and Ethan Ding co-founded TextQL to promote data-driven decision-making in businesses by connecting existing data setups with large language models.
TextQL's CTO, Hay, emphasizes the frustration among data leaders with the lack of promised self-service data access, leading to lost productivity and disagreements.
Leveraging their experiences at Facebook and Bessemer Venture Partners, Hay and Ding launched TextQL in 2022, mapping company databases to familiar business terms for natural language queries.
TextQL integrates with business intelligence tools and utilizes documentation from enterprise data catalogs and platforms like Confluence or Google Drive, enabling users to interact with a chatbot for data queries and actions.
Serving customers across healthcare, finance, manufacturing, and media industries, TextQL has secured $4.1 million in funding and aims to empower enterprises with data-driven insights despite economic challenges.
Mark Hay and Ethan Ding are on a mission to make data-driven decisions the norm in every business. Their platform, TextQL, aims to connect a company's existing data setup with large language models similar to OpenAI's ChatGPT and GPT-4.
Hay, TextQL's CTO, highlights the frustration among data leaders who have been let down by promises of self-service data access. He notes that many data scientists spend a significant amount of time fulfilling one-off data requests, leading to lost productivity and disagreements over numbers.
Data leaders have spent 15 years being sold a false promise … Half the Fortune 500 chief data officers are allergic to the word ‘self service’ at this point. Their 400,000 data scientists are spending 40% or more of their time pulling one-off data requests, and their business teams are using words that are represented differently in their databases, resulting in months of lost productivity arguing over numbers.
Drawing from their experiences at Facebook and Bessemer Venture Partners, Hay and Ding founded TextQL in 2022. Their platform maps a company's database to familiar business terms like "order," "item," and "inventory," enabling users to ask questions in natural language.
TextQL integrates with business intelligence tools and leverages existing documentation from enterprise data catalogs and platforms like Confluence or Google Drive. This setup allows users to interact with a chatbot to ask questions or perform actions based on the data.
According to Hay, TextQL serves customers across various industries, including healthcare, finance, manufacturing, and media. Despite economic challenges, the platform's ability to enhance productivity resonates with companies looking to achieve more with fewer resources.
The slowdown hasn’t affected us as much, if anything — companies are excited about our software since it can help them do more with their lower headcounts. Our entire team consists of previously venture-backed veteran founders — which is talent that’d be pretty hard to pick up outside of this environment.
TextQL has secured significant funding, raising $4.1 million in pre-seed and seed rounds led by Neo and DCM. The team, consisting of seasoned founders, is optimistic about the platform's future and its potential to empower enterprises with data-driven insights.
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