Ginger Software today announced that is has completed an extended round of funding with a $5 million investment from Horizons Ventures, the venture capital fund owned by Mr Li Ka-‐shing, and Harbor Pacific Capital, a Silicon Valley-based venture firm.
In addition, the company received $400,000 from current investors. Ginger Software had already raised $6.3 million in a previous financing round from Vaizra Ventures and previous investors. This brings Ginger’s total investment close to $21 million to date.
Frank Meehan, from Horizons Ventures, will join Ginger Software as board member. Ginger Software was founded by Israeli serial entrepreneur and natural language expert Yael Karov in 2007, who serves as the company’s COO and President.
Ginger Software builds products deeply rooted in Natural Language Processing and its Proofreader is the market’s leading contextual grammar and spell checker. It corrects mistakes while considering their intended meaning. In addition, it learns from your mistakes and helps you to improve your English.
For the billions using English as a second language, Ginger’s innovative products serve as a companion, helping you to communicate like a native speaker. However, there is much more under the “hood” than currently meets the eye, and Ginger is working on a number of products based on its own Natural Language Processing platform. This platform enables all kinds of applications other than proofreading such as paraphrasing and speech recognition.
“Ever since I first started to work with Horizon Ventures while still at Facebook back in 2007, I knew that I wanted to work together with them again. Horizon’s unique passion for education and artificial intelligence coupled with a unique global network (especially in Asia) and a very strong “can do” approach, was our main reason for choosing them as an investor,” said Net Jacobsson, CEO of Ginger Software.
“The Ginger team has developed a very clever NLP platform that breaks the context barrier, can understand the probable meaning of a written sentence and interpret the most probable intent of the user. This is not a simple task by any means, and their tech puts Ginger into a very select group of companies leading the intersection of artificial intelligence and learning,” said Frank Meehan, at Horizons Ventures.