Perigon Secures $5M in Seed Funding to Structure the Open Web for AI

Rhea-AI Summary

Perigon, a leader in organizing web data for AI, has closed a $5 million seed financing round led by LiveOak Ventures. Founded by Joshua Dziabiak and Josh Rickel, Perigon uses AI to gather and connect over 20 million pieces of data daily from 130,000 sources, serving over 70 customers across various industries.

Insights

Market Research Analyst

The closure of a $5 million seed financing round for Perigon signifies a substantial investment into the development of AI technologies for processing public web data and news media. This event is indicative of a growing trend where investors are recognizing the potential of AI to revolutionize information management and decision-making processes across various industries.

From a market research perspective, the ability of Perigon's technology to aggregate and interpret vast amounts of data from a multitude of sources can be a game-changer. It has the potential to provide businesses with a competitive advantage by offering real-time insights that can inform strategic decisions. This can lead to the development of more sophisticated market analyses and forecasts, which are crucial for businesses looking to stay ahead in a rapidly changing environment.

Financial Analyst

Perigon's impact on the financial industry can be substantial, given its role in providing enriched data feeds to financial institutions. Access to real-time, accurate and comprehensive data is critical for financial analysts and traders. The ability to quickly analyze global events, economic trends and company-specific news can enhance trading strategies and risk management. This technology can lead to more informed investment decisions and potentially improve the performance of financial portfolios.

Moreover, the use of AI to filter out misinformation and synthesize diverse perspectives can reduce the risk of trading on inaccurate information. This is particularly important in an era where the speed of information dissemination can cause significant market volatility.

Environmental Analyst

Environmental agencies' adoption of Perigon's technology to extract actionable insights from hyperlocal signals underscores its versatility and the value it can bring to public sector entities. The ability to address environmental, health and security risks more effectively through AI-driven data analysis is a notable advancement. This technology can enhance the responsiveness of agencies to crises and support the development of policies that are grounded in comprehensive and timely data.

For stakeholders in the environmental sector, such as policy makers and conservation organizations, the implications of having access to this level of data granularity are profound. It allows for a more nuanced understanding of environmental challenges and the creation of targeted interventions.

AUSTIN, Texas--(BUSINESS WIRE)-- In a major step towards reshaping how AI processes the ever-expanding realm of public web data and news media, Perigon has successfully closed a $5 million seed financing round led by LiveOak Ventures. Founded in 2022 by serial entrepreneur Joshua Dziabiak and Emmy-winning innovator Josh Rickel, Perigon is at the forefront of organizing the web's vast data for the age of AI.

Today, processing real-time web data, tackling misinformation, and dealing with synthetic content creates complexities for businesses trying to tap into the world’s data. Perigon's technology tackles these challenges by rethinking how we integrate useful information into software, services, and research. Perigon gathers over 20 million pieces of data every day from more than 130,000 sources. Using AI, it organizes and connects this data to give quick, up-to-the-minute insights on various topics, people, companies, and global events. Customers then use this enriched data to make better decisions and supercharge innovative AI applications across industries.

"Perigon is committed to turning the chaos of the web into an organized system, making it possible for AI to understand and interpret the world's events as they happen, said Joshua Dziabiak, Founder of Perigon. "It’s all designed to serve people with more context and diverse perspectives on the key issues that shape our world, in business and life."

Perigon is already creating a significant impact, serving over 70 customers, ranging from government entities and AI-forward startups to major consumer products and leading financial institutions. The breadth of their customer base highlights the adaptability of Perigon's technology. Environmental agencies harness Perigon's capabilities to extract actionable insights, empowering teams to effectively address environmental, health, and security risks by pinpointing hyperlocal signals. On the financial front, Perigon's data feeds play a pivotal role for institutions seeking real-time context on companies, industries, and economic trends, enriching trading platforms and facilitating more informed decision-making in the dynamic realm of financial markets.

The technology doesn't just help AI understand ongoing global stories; it ensures it is consistently updated and clustered amongst diverse perspectives. This overcomes the issues posed by static datasets, traditional search engines, or isolated sources. "We are excited about the market opportunities that arise from unlocking contextual insights from public information at scale for business practitioners and consumers. In a short period of time and with limited investment, Perigon has leveraged AI and powerful models to deliver value directly to end-users and through APIs by dozens of demanding customers all over the world. We believe that repeat entrepreneurs Joshua Dziabiak and Josh Rickel are the right pair to lead this ambitious endeavor and seize this massive opportunity," said Krishna Srinivasan, Founding Partner of LiveOak Venture Partners.

Perigon's Co-Founder, Josh Rickel, added, "Imagine a world where AI is as informed and evolving as the internet it learns from. Perigon is more than a platform; it's a crucial tool for those shaping the next frontier of instant AI decision-making."

Headquartered in Austin, Texas, Perigon's rapid growth and innovative approach solidify the company's leadership in the upcoming wave of AI advancements. The seed funding will fuel Perigon's expansion and support its mission to build AI that's truly in the know, all powered by the open web.

Visit GoPerigon.com to learn more.

About Perigon

Perigon is pioneering contextual intelligence for the web, transforming vast amounts of dynamic information and breaking news into valuable insights. Founded in 2022 by Joshua Dziabiak and Josh Rickel, the company is dedicated to organizing the web's data for the AI age, enabling a deeper understanding of information through accessible, high fidelity, structured data. Serving customers ranging from startups to major corporations to government entities, Perigon is trusted by industry leaders worldwide for its innovative approach to connecting disparate data for real time context. Headquartered in Austin, Texas, Perigon is on a mission to empower both consumer and business applications with critical insights, driving informed decisions at scale across global, national, and local levels.

About LiveOak Ventures

LiveOak Ventures is an early-stage venture capital firm based in Austin, Texas. With 25 years of successful venture investing in Texas, the founders of LiveOak have helped create nearly $5 billion of enterprise value. LiveOak is a complete life cycle investor focused on technology and technology-enabled service companies. With nearly $500M under management and led/co-led over 60 high-growth investments in Texas-based leaders, such as AmplifAI, DISCO (NYSE: LAW), Eventus, Homeward, OJO Labs, Osano, SchooLinks, Take Command Health, and many more, some starting at inception. The firm was honored at the inaugural Austin A-List Awards in 2022 as the Venture Capital Firm of the Year and received the Austin Gives Charitable Champion award.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240208502672/en/

Julianna Giraldo

julianna@liveoak.vc

Source: Perigon

FAQ

What was the amount of the seed financing round led by LiveOak Ventures?

Perigon closed a $5 million seed financing round led by LiveOak Ventures.

How many pieces of data does Perigon gather daily?

Perigon gathers over 20 million pieces of data every day from more than 130,000 sources.

How many customers does Perigon serve?

Perigon serves over 70 customers, ranging from government entities and AI-forward startups to major consumer products and leading financial institutions.

What role does Perigon's data feeds play for financial institutions?

Perigon's data feeds play a pivotal role for institutions seeking real-time context on companies, industries, and economic trends, enriching trading platforms and facilitating more informed decision-making in the dynamic realm of financial markets.