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datum consolidation is a necessary part of many workflows from onboarding client information to practice paysheet , but for many information sets the process is retentive and manual . Data is siloed into database and SaaS practical app that each keep the information in different format , which makes it difficult to move information from one database to another . Lume attend to deepen that using AI .
Lume ’s system uses AI and algorithms to automate data mathematical function by extracting data from its database silos and “ normalizing ” it , meaning it converts it into a standardized format so that it can be more easily move or integrated into other workflows . If a data integration breaks in the process , a common problem , Lume advise users and use AI to seek to remediate the take . Lume also bid an API and a web chopine so clients can embed Lume instantly into their workflow .
What fix Lume apart from other data function dick is that it is n’t focused on extracting data from a spreadsheet or PDF but rather on complex nested data data format like JSON . Lume can assist companies map complex arithmetical , taxonomy and school text manipulation task , Nicolas Machado , Lume co - beginner and CPO , told TechCrunch . He add that this focal point allow company to spend less time and money than outsource these data project .
“ One of the essence problem that we learn is that propel data seamlessly , like truly seamlessly between systems , is a altogether manual process , and has been for literally 60 years , ” Machado said . “ Why ca n’t this be automated ? Why was it never possible before ? It ’s because data is unparalleled to every single organisation . Each company , each vendor , each integration , they ’re defining information in their own way . They ’re structuring data in their own way . They understand the information other than . ”
Machado and his carbon monoxide - founders , Robert Ross and Nebyou Zewde , know the problem well . The trio met as freshmen at Stanford , learn computer science with a stress on AI . From there , they went off to form at tech companionship ranging from Apple to OpenDoor , they all were take in datum integration projects . In 2022 , when the founders look the writing on the bulwark for advancements in AI , they decided it was the ripe prison term to essay to solve this data integration issue .
“ Every applied scientist has faced this problem , ” Machado say . “ Every engineer has to do it . So we got started , we got together , literally went to one of my co - founder Robert ’s flat , and we would work the evenings on it . ”
Lume was founded in January 2023 , launched its first product in March 2023 , and go through Y Combinator ’s W23 batch . Machado said the company has had strong inward demand ever since and has racked up dozens of customers so far . Machado said Lume ’s customers range in size from startup to enterprise society , but turn down to partake particular .
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Lume late raised a $ 4.2 million ejaculate round led by General Catalyst with participation from Khosla Ventures , Floodgate , and Y Combinator in accession to angel investors .
“ They really read this job , and that ’s why they were hooked on it , ” Machado said . “ That ’s why they ’re emotional about it . They were operators . Like , ‘ look , I was a chief executive officer 30 long time ago , and this was a problem . This still a problem ? That ’s harebrained . ’ ”
Machado said that the stave will be used for hiring , the company wants to double its headcount from five to ten by the get-go of next year , and for continuing to ferment on the tech .
Lume is n’t the only company await to fix data desegregation woes . SnapLogicis one that has raised $ 371 million in venture funding . Osmosis another startup looking to help companies with this . As engineers continue to deal with this topic , rival will belike raise . Machado said he is n’t worried about competition though as he thinks Lume ’s algorithm , and how its API contribute Lume into company ’s be workflows , will help it remain firm apart .
In the future , Lume hopes to be the glue that model between any two data system and can seamlessly help the flow of data point between the two .
“ We all eff data , and we ’re all big believers in how important data is , ” Machado articulate . “ That metaphor we use , it ’s like oil , crude oil , historically , to extract time value you have to process it and then expend it to baron machines , everything else . That ’s exactly what data is and what data point has been . ”
This composition has been update to clarify Machado ’s title and Lume ’s customer base .
