{"id":25533,"date":"2021-08-01T04:54:07","date_gmt":"2021-08-01T04:54:07","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/sedna-banks-34m-for-a-platform-that-parses-large-volumes-of-email-and-chat-to-automatically-action-items-within-them.html"},"modified":"2021-08-01T04:54:07","modified_gmt":"2021-08-01T04:54:07","slug":"sedna-banks-34m-for-a-platform-that-parses-large-volumes-of-email-and-chat-to-automatically-action-items-within-them","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/sedna-banks-34m-for-a-platform-that-parses-large-volumes-of-email-and-chat-to-automatically-action-items-within-them.html","title":{"rendered":"Sedna banks $34M for a platform that parses large volumes of email and chat to automatically action items within them"},"content":{"rendered":"

Many have tried to do away with it, but email refuses to die \u2026 although in the process it might be (figuratively speaking) killing some of us with the workload it brings on to triage and use it. A startup called Sedna<\/a> has built a system to help with that \u2014 specifically for enterprise and other business customers \u2014 by \u201creading\u201d the text of emails and chats, and automatically actioning items within them so that you don\u2019t have to. Today, it\u2019s announcing funding of $34 million to expand its work.<\/p>\n

The funding, a Series B, is being led by Insight Partners, with Stride.VC, Chalfen Ventures and the SAP.iO fund (part of SAP) also participating. The funding will be used to continue building out more data science around Sedna\u2019s core functionality, with the aim of moving into a wider set of verticals over time. Currently its main business is in the area of supply chain players, with Glencore, Norden and Bunge among its customers. Other customers in areas like finance include the neobank Starling. London-based Sedna is not disclosing valuation.<\/p>\n

Bill Dobie, Sedna\u2019s CEO and founder originally from Vancouver but now in London, said the idea for the company was hatched out of his own experience.<\/p>\n

\u201cI spent years building software to help users be more productive, but no matter what we built we never really reduced people\u2019s workload,\u201d he said. The reason: The millstone that is called email, with its endless, unsolicited, inbound messages, some of which (just enough not to ignore) might be important. \u201cWhat really struck me was how long it spent to move items out of and into email,\u201d he said of the \u201cto-do\u2019s\u201d that arose out of there.<\/p>\n

Out of that, Sedna was built to \u201cread\u201d emails and give them more context and direction. Its system removes duplicates of action items and essentially increases the strike rate when it comes people\u2019s inboxes: What\u2019s in there is more likely to be what you really need to see. And it does so at a very quick speed.<\/p>\n

\u201cOur main value is the sheer scale at which we operate,\u201d Dobie said. \u201cWe read millions or even billions of messages in subsecond response times.\u201d Indeed, while many of us are not getting \u201cmillions\u201d of emails, there is a world of messaging out there that needs reading beyond that. Think, for example, of the volume of data that will be coming down the pike from IoT-based diagnostics.<\/p>\n

\u201cSmart\u201d inboxes have definitely become a thing for consumers \u2014 although arguably none work as well as you wish they did. What\u2019s notable about Sedna has been how it\u2019s tuned its particular algorithms to specific verticals, letting them get smarter around the kind of content and work practices in particular organizations.<\/p>\n

Right now the work is driven by an API framework, with elements of \u201clow code\u201d formatting to let people shape their own Sedna experiences. The aim will be to make that even easier over time. An API-driven framework right now, some low code we\u2019re heading into, but mostly its SAP or shipping or a trading system that understands the transaction underway, then Sedna uses a decision tree to categorize.\u00a0<\/span><\/p>\n

Another area where Sedna might grow is in how it handles the information that it ingests. Currently, the company\u2019s tech can be interconnected by a customer to then hand off certain work to RPA systems, as well as to specific humans. There is an obvious route to developing some of the second stage of software there \u2014 or alternatively, it\u2019s a sign of how something like Sedna might get snapped up or copied by one of the big RPA players.<\/p>\n

\u201cBill started reimagining email where it was most broken and therefore hardest to fix \u2014 large teams managing huge volumes and complicated processes,\u201d said Rebecca Liu-Doyle, principal at Insight Partners, in a statement. \u201cToday, Sedna\u2019s power is in its ability to introduce immense speed, simplicity and delight to any inbox experience, regardless of scale or complexity. We are excited to partner with the Sedna team as they continue to make digital communication more intelligent for teams in global supply chain and beyond.\u201d Liu-Doyle is joining the board with this round.<\/p>\n

SAP is a strategic investor in this round, as Sedna potentially helps its customers be more productive while using SAP systems. \u201cSAP continues to partner with SEDNA to deliver value to SAP customers. The ability to turn complex information into simpler intelligent collaboration has been a growing priority for many SAP customers,\u201d said Stefan Sauer, global transport solutions lead at SAP, in a statement.<\/p>\n

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Achieving digital transformation through RPA and process mining<\/a><\/p>\n<\/blockquote>\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/86TCv2IY-wE\/<\/p>","protected":false},"excerpt":{"rendered":"

Many have tried to do away with it, but email refuses to die \u2026 although in the process it might be (figuratively speaking) killing some of us with the workload <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-25533","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t