MOUNTAIN VIEW, Calif., May 1, 2018 /PRNewswire/ -- Passage AI, an acknowledged leader in AI-powered conversational interfaces, today announced that it has been selected a "2018 TiE50 Winner" for the prestigious TiE50 Awards Program. This awards competition recognizes the most innovative tech startups and is part of TiE Inflect 2018, the world's largest conference for tech entrepreneurs.
"We are honored to have been selected as a top 50 technology startup by TiE from more than 7,000 companies around the world," said Ravi N. Raj, CEO and founder of Passage AI. "AI is a fast growing and highly competitive market. Some of the largest companies in the world are using our AI/NLP platform with great success. This acknowledges the innovative chatbot technology that Passage AI has built and we look forward to bringing our solution to more companies who want to create intelligent conversational interfaces."
Founded in 2016 by three Silicon Valley veterans with an extensive background in deep learning and artificial intelligence, Passage AI is at the forefront of bringing AI-powered conversational interfaces into the retail, telecommunications, automotive and education industries. The company's award-winning AI/NLP platform performs at 95 percent or higher accuracy, as noted by customers and independent analysts.
"TiE50 has become a global brand that attracts thousands of tech startups worldwide," said Kamal Anand, TiE50 Program Chair. "This year, we screened more than 7,400 companies from 28 countries and selected the best-of-breed as our '2018 TiE50 Winners.' Our program has gained notoriety over the past decade as a competition run with the highest level of integrity and vigorous screening and judging by domain experts."
Passage AI has created a bot-building tool that utilizes AI and natural language processing technologies, requires no coding and can be deployed anywhere in as little as two weeks. Its sophisticated deep learning model enables Passage AI chatbots to more readily understand a user, regardless of how they express themselves. Passage AI chatbots understand natural language text and speech, creating an intelligent conversational interface capable of better identifying intents, extracting the most useful, pertinent and timely information, understanding and responding to queries and searching through vast amounts of data.
On Friday, May 4, Passage AI will take the stage at TiE Inflect 2018 to show a live demonstration of its award-winning technology. The company will also be demoing its technology capabilities in Hall C, booth number 422 at the event, taking place May 4-5 at the Santa Clara Convention Center.
About TiE Inflect 2018
TiE Inflect (previously TiEcon) is the world's largest conference for entrepreneurs and intrapreneurs with participation from top technology companies, leading venture capital firms, and global services providers. TiEcon 2017 attracted 5,400+ attendees from across the world - including CEOs of established companies to first-time entrepreneurs creating new companies, to leading investment professionals and corporate executives. The conference was listed by Worth Magazine as one of the 10 best conferences for ideas and entrepreneurship along with TED and the World Economic Forum. For more information, please visit http://www.tieinflect.org.
The Indus Entrepreneurs (TiE) is a not-for-profit founded in 1992 in the Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals. TiE is the world's largest network of tech entrepreneurs. It is a cohesive global network with a footprint of half million entrepreneurs, enterprise executives, investment professionals, and other accomplished individuals. It operates from 60 cities in 16 countries. http://www.tieeco.org.
About Passage AI
Founded in 2016 by WalmartLabs alumni Madhu Mathihalli and Ravi Raj and LinkedIn alumnus Mitul Tiwari, Passage AI enables businesses to harness the power of AI-enabled conversational interfaces to bring bottom-line benefits, to better utilize service agents saddled by mundane tasks, and to deliver exceptional customer experience. Passage AI counts Kohl's, Udacity and PwC among the business and services that use its solution. A 2018 TiE50 award winner, the company has secured $3 million in total funding and is headquartered in Mountain View, Calif. More information can be found at http://www.passage.ai.
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