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Browse AI help companies build bots to scrape website data and put it to work | TechCrunch

Aug 15, 2023 - techcrunch.com
Browse AI, a startup that offers an automated solution for data extraction from websites, has raised $2.8 million in a seed funding round. The company, founded by CEO Ardy Naghshineh and Marjan Miremadi, provides a SaaS application that trains a bot to extract data based on specific criteria and adds it to a spreadsheet or API. The startup, which launched in 2020, has reported 200,000 new users in the last six months, including teams from Amazon, Walmart, Accenture, Google, and McKinsey.

The company has seen its annual recurring revenue grow 20 times year-over-year and became cash flow positive six months ago. Browse AI has 18 employees and plans to expand rapidly, potentially reaching 50 or more within a year. The startup is also opening an office in Vancouver and plans to adopt a hybrid work model. The seed funding round included investors such as Interface Capital, Alpine Venture Capital, AltaIR, Banana Capital, Creator Ventures, Trust Fund, Singularity Capital, Goodwater Capital, and several prominent industry angels.

Key takeaways:

  • Browse AI, a startup that offers an automated solution to extract data from websites, has secured a $2.8 million seed investment.
  • The company's product is designed to democratize access to information on the web, making it accessible to small businesses and individuals.
  • Since its launch in 2020, Browse AI has gained 200,000 new users and its annual recurring revenue has grown 20x year-over-year. The company became cash flow positive six months ago.
  • Browse AI plans to expand its team and open an office in Vancouver, with a focus on diversity and inclusion in its hiring practices.
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