Swiftype
What they do: Provide cloud-based search tools.
Problem they solve: For the typical enterprise, search is about a lot more than finding info on the Web. “With the rise of the cloud services, you’d be hard-pressed to find a company that doesn’t leverage cloud-based platforms to store company documents, assets, and data,” a Swiftype rep said in an email to Startup50. Add in mobility and remote work, and the need for better search tools that can find your info no matter where it’s stored increases.
However, with the move to cloud-based work, new challenges and questions are coming to the surface. We’ve all had the experience of trying to find a particular document, one you remember creating, but you can’t remember what you named it, where you stashed it, or when you last used it.
Today, that document could be anywhere — Google Drive, Dropbox, Office 365, Salesforce, Slack — the list goes on and on. All the time spent searching for work instead of working on work is “costing companies money and workers’ their sanity and ability to collaborate — and that will only get worse over time.”
We’re already seeing fragmentation of content and data, which poses problems related to search, discovery, and collaboration across teams, offices, and regions.
All-encompassing search – whether it be site search or enterprise cloud search – has failed to keep up with innovation in the cloud.
How they solve it: Swiftype uses AI, machine learning, Big Data, and natural language processing technologies to improve the overall search experience. Swiftype’s first product, Site Search, has already gained traction in the market. If you go to websites like Asana, Shopify, SurveyMonkey, and TechCrunch, Swiftype Site Search is what powers those search box experiences.
#Big50-2017 hot startup Swiftype announces acquisition by Elastic. More details forthcoming in a joint webinar later today. Congrats, Swiftype! https://wp.me/p330ZZ-kV Share on XEarlier this year, Swiftype launched its new search tool, the Enterprise Search Platform, which provides a suite of AI-powered applications that help workers securely search, discover, and organize vast amounts of data.
Headquarters: San Francisco, CA
CEO: Matthew Riley, who was formerly Director of Product for Scribd.
Year Founded: 2012
Funding: $22M total, with the most recent round being a $13M Series B that closed in March 2015. The B round was led by Jon Sakota and Chetan Puttagunta of New Enterprise Associates.
Competitors include: Google, Coveo, Lucidworks, SearchBlox, and Algolia.
Customers include: Lyft, Asana, Shopify, Autodesk, TechCrunch, and SurveyMonkey.
Why they’re in the Big 50-2017: BREAKING: Swiftype just announced that it has entered into “an alliance” with Elastic. This alliance sounds more like an acquisition to us here at Starup50, but whatever the case, you can learn more later today when Swiftype and Elastic discuss the new development during a joint webinar.
Swiftype’s search products are built on top of Elasticsearch, so merging into the Elastic family should be relatively seamless. Congratulations to Swiftype, a Big50 startup that achieved an exit before the ink on their Big50 profile was dry! Good luck!
