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Lex raises $2.75M for its AI writing tool that helps writers get past blocks | TechCrunch

Aug 23, 2023 - news.bensbites.co
Lex, an AI-powered writing tool, has raised $2.75 million in a seed funding round led by True Ventures. The company, spun out of Every, aims to integrate AI into the writing process to enhance and streamline the user's workflow. The AI steps in when the user slows down or halts, offering suggestions on what to write next. The tool also includes features such as rephrasing sentences, generating summaries, and creating headlines.

CEO Nathan Baschez has assured that user content will not be used for training, and any future plans to fine-tune their models will be transparent and respectful of user privacy. The company plans to keep the team small and start charging for its product soon. Despite the costs associated with hosting users and making API calls using AI implementations, Baschez expects the paid tier to cost around $20 per month.

Key takeaways:

  • Lex, an AI-powered writing tool, has raised a $2.75 million seed round led by True Ventures.
  • The tool uses AI to assist writers, offering features such as generating headlines, rephrasing sentences, and filling in gaps in the writing process.
  • CEO Nathan Baschez assures that Lex is not using any user content for training its AI, and any future training will be transparent and respectful of user privacy.
  • Lex plans to keep its team small and start charging for its product soon, with the paid tier expected to cost around $20 per month.
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