"ProRata offers an AI search engine called Gist Answers that publishers can embed in their websites at no charge. In addition to helping readers find specific articles, the software summarizes those articles. Users can also ask Gist Answers to explain topics discussed in the article they're currently reading. The search engine answers reader questions using content from ProRata's network of more than 700 publishers. In June, the company stated that it had "one of the largest licensed content libraries in generative AI search.""
"ProRataAI Inc., a startup that develops search and advertising tools for publishers, has raised $40 million in funding to expand the adoption of its technology. The company announced the deal today. It said that Touring Capital led the Series B round with participation from returning backers Mayfield Fund, MVP Ventures, Revolution Ventures, SBI Investment, BOLD Capital, XPV-Exponential Ventures and Idealab Studio. Those investors earlier provided ProRata with more than $30 million in funding."
ProRataAI raised $40 million in Series B funding led by Touring Capital with participation from returning backers. Investors had earlier provided more than $30 million; valuation was not disclosed, though Financial Times reported a $130 million valuation last November. ProRata offers Gist Answers, an AI search engine that publishers can embed at no charge to help readers find and summarize articles and to explain topics in articles. Gist Answers answers reader questions using content licensed from a network of more than 700 publishers and claims one of the largest licensed content libraries in generative AI search. The product monetizes through a built-in ad system called Gist Ads that displays advertisements below the search engine.
Read at SiliconANGLE
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