Why we Invested: CLIPr
In a previous post, fellow TBD’er Scott Weller explained our viewpoint on AI and how it is permeating the fabric of our digital, social and physical lives. From how quickly we receive Amazon packages to how efficiently and accurately medical conditions are diagnosed. It’s always on, it is everywhere, and impacts all aspects of our daily lives. This is why we were so intrigued by an exciting company using AI to create searchable recorded meeting recaps from the plethora of video content being generated in online meetings, events and classes.
CLIPr is a Seattle-based startup founded by Humphrey Chen, Cindy Chin and Aaron Sloman that is focused on leveraging AI to simplify and personalize video content. The value proposition is simple: deliver personalized video recaps to optimize users’ learning and time. The software makes it easy for its users to access the most important, relevant information quickly and easily. Imagine being able to go back to a series of online sessions you missed from a recent conference, or revisit several client meetings you had this past month and search and skim to find the information you need in a fraction of the time.
Through Machine Learning and AI, CLIPr extracts key moments from each video recording based on personal preferences and activity. Through natural language queries and keywords, users can easily seamlessly find desired content. The end result is a complete transcript of recordings with speaker annotations and timestamps that will soon be able to be processed in over 50 languages.
We were more than impressed with the performance of the CLIPr technology and the market opportunity was undeniable, but how about the team? The CLIPr team is a diverse group with the right balance of startup and enterprise leadership experience. The team is small (8 full time + 7 consultants) but impressive. Co-founder and CEO, Humphrey Chen is a successful entrepreneur who has held leadership positions at Amazon, Microsoft, Verizon, Softbank Robotics and others. Co-founder and COO Cindy Chin is a data-driven operator with deep expertise in data science and was named one of Entrepreneur’s 50 Most Daring Entrepreneurs in 2018. Co-founder and CTO Aaron Sloman has launched several startups like Nimble Software, CrossFit Chalk, speakTECH and OwnZones and held leadership positions at Microsoft. Chief Product Officer Nick Nelson had a great run scaling product at Netflix as well as leading Product at OWNZONES. Chief of Staff and PeopleChristine Eckhaushelped to hire 75% of Amazon’s Machine Learning leadership and that’s how she first met Humphrey.
13 members of the TBD Angels syndicate participated in a ~$175k investment in CLIPr’s seed round, making CLIPr a standout in the growing TBD portfolio.
AT TBD, we see hundreds of opportunities each month. A small number make it to the pitch stage, a tiny fraction make it to the investment stage. CLIPr was not only funded by TBD, but we immediately became a customer. As you can imagine, our video library of startup presentations is formidable. We are now proud users of CLIPr’s platform which helps us manage video content, consolidate pitches and personalize them for our TBD members. We are just one of many customers who are now big believers in the power and utility of the CLIPr technology.
Doug Hurd is a founding member of TBD Angels