"Zoom in: ProRata.ai's product, Gist Answers, lets publishers embed custom AI search on their websites. Publishers can show AI-powered summaries and recommendations exclusively based off their own content or showcase content from ProRata.ai's broader network of 750 publishers. "It's absolutely free to all the websites, and it's actually profit-making, small profit, but profit-making," Gross tells Axios. "Our whole goal is to get this ethical search distributed as far and wide as possible.""
"Publishers that choose to license their content to Gist Answers benefit from a 50/50 revenue-sharing model. Adweek tried the experience earlier this year during Cannes Lions. Popular Science and The Atlantic are among the publishers planning to participate. "As a publisher, our priority is making sure our journalism reaches audiences in trusted ways," The Atlantic CEO Nicholas Thompson, who is a ProRata.ai board member, said in a statement."
ProRata.ai has raised more than $70 million and closed a new round led by Touring Capital with participation from Mayfield Fund, MVP Ventures, Revolution Ventures, SBI Investment, BOLD Capital, XPV-Exponential Ventures and Idealab Studio. The startup still had $20 million from a prior funding round and did not need capital but accepted Touring Capital's interest. The company's product, Gist Answers, enables publishers to embed custom AI search providing summaries and recommendations from their own content or from a network of 750 publishers. Gist Answers is free for websites and operates on a 50/50 advertising revenue-sharing model. Publishers including Popular Science and The Atlantic plan to participate as the industry addresses AI scraping and licensing concerns.
Read at Axios
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