Automated data extraction startup Browse AI has secured a seed investment of $2.8 million, allowing the company to further develop its innovative solution for extracting data from websites. With the help of its software-as-a-service (SaaS) application, Browse AI enables businesses of all sizes to easily scrape information from websites and transfer it to spreadsheets or APIs for further analysis.
Traditionally, companies have had to rely on custom code to extract data from websites, a process that is expensive and time-consuming, making it inaccessible for smaller businesses. However, Browse AI aims to democratize access to web information by providing a user-friendly solution that eliminates the need for complex coding.
Co-founded by Ardy Naghshineh and Marjan Miremadi, Browse AI has been gaining momentum since its launch in 2020. Over the past six months alone, the startup has attracted 200,000 new users, including major players like Amazon, Walmart, Accenture, Google, and McKinsey.
The company’s success can be attributed to its ability to deliver impressive results. Naghshineh revealed that annual recurring revenue (ARR) has grown 20 times year-over-year, and Browse AI achieved cash flow positivity just six months ago—a remarkable feat for such a young organization. Moreover, the company has proven to be highly capital efficient, having spent only half of its pre-seed funding of $400,000.
Currently employing 18 individuals, Browse AI has ambitious plans for expansion. The startup intends to hire more talents, with a potential workforce of 50 or more within the next year. To support this growth, the company is establishing an office in Vancouver, Canada. Naghshineh, who immigrated to Canada a decade ago, places great importance on diversity and inclusion. By actively seeking talent from underrepresented groups, Browse AI aims to create equal opportunities for all and foster an inclusive work culture.
The recent seed funding of $2.8 million was provided by a group of investors that includes Interface Capital, Alpine Venture Capital, AltaIR, Banana Capital, Creator Ventures, Trust Fund, Singularity Capital, Goodwater Capital, as well as various industry angels.
Browse AI’s automated data extraction solution has not only revolutionized the way businesses access web information but has also demonstrated substantial growth and efficiency. As the startup continues to expand its user base and attract investments, it is poised to make a significant impact in the field of data extraction and analysis.
