Startup of the Week: Intentex
This week we present you Intentex – a unique text-analysis technology that can reveal the real intent of a text in just a few seconds. We interviewed Vadim Dekhtyar – the CEO at Intentex who has told us more about their startup by answering the questions below.
So what is Intentex? How does it work?
At Intentex we deliver cloud-based products aimed at both professionals and the general public. The solutions can be integrated into major Microsoft and Google applications, as well as CRM systems, such as Salesforce. Intentex provides accurate, effective, and highly innovative sentiment analysis features. Our lexicon-based sentiment engine shows detailed analyses of texts, revealing what effects the words have on readers in ways that far surpass our competitors. Our system will show you information about the preferred communication style of your respondent, and help you easily understand the intent, emotions, and attitude hidden in the text you are reading or writing. It will even show if the text seems sincere or not IntenCheck API offers 7 groups of categories of results: emotions, attitude, communication style, insincerity, timeline, motivation and perceptual positions
What are your competitors and competitive advantages?
The main competitors are Semantria, Clarabridge, TheySay, Bitext, IBM Watson. Our engine can provide more results and in-depth information than competitors. While they can categorize texts or social media posts as positive, negative, or neutral, our sentiment engine can go way beyond that and show exact measures for a number of 6 categories attitude, emotions, communication style, motivation, sincerity, timeline and perceptual positions.
Our system is based on scientific studies and researches on human emotions, semantic differential (attitude), neuro-linguistic programming and methods and approaches for detecting signs of deception and insincerity. In addition to these fields, our expert knowledge on content analysis of texts and logical analysis of the internet have enabled us to create a unique text and sentiment analysis engine that offers unrivalled capabilities for this market.
What were the reasons behind coming up with this idea and launching this product?
It became obvious that in the very near future 90-95% of all communication would not only migrate online but would also become live over the internet. Our goal was to create a tool that could be easily used by any users to avoid miscommunication. According to market research there are over 220 billion emails sent daily, 132B of which are business related. Statistics show that 50% of sent and received emails are misinterpreted and 64% unintentionally cause anger and resentment.
When exactly did you launch, what were the main challenges before launching?
The IntenCheck API was finilized at the end of 2017 and the IntenCheck cloud software was released to the public in January 2018. The main challenges were to find the investment for product development and marketing. At this moment our main goal is to obtain new subscribers, gain financial traction and establish ourselves as a leading cloud text analysis software which would be easily available to any kind of users.
We target 3 markets: public (individual), enterprise (multiple) and API for software developers. We offer freemium and paid subscription models for all 3 markets, as well as resellers model for API developers and custom in-house deployment solution. Our target customers are anyone who uses English language in communication and we plan to expand our software to cover more languages such as French, Spanish, Italian, German.
What are main challenges while working on this product and how are you overcoming them?
Although all the partners are originally from Lithuania, our current main challenge is that we are reside and work in different countries and continents. Technology allows us to work in a modern way – remotely covering various locations from Chicago to Florida, Moscow to Vilnius to London. You can imagine that to work on this project in such fashion is not easy and only a true belief in a product helps us to overcome there difficulties.
How are you funded? Do you seek extra funding?
Initially it was funded by personal means, but later on we managed to secure a private investment of $300K and currently we are looking for a new investor for further product development and marketing.
Please introduce your founders, your core team and your broader team?
Our core team is Me (CEO), Eugene Ryzhikov (CTO), Sergey Klimuk (Business development), Vladimir Shalack, PhD, Rinat Nazmutdinov . Our main partners are IT Respublica – software development partner based in Vilnius.
How has business been so far? Could you share some numbers to illustrate this (users, sales, etc)?
Due to a recent release of the software we are just starting to get new free and paid subscribers. At this moment we are working on our marketing campaign in order to get stable flow of new free and paid subscribers.
Future plans, ambitions? Simply speaking – what’s next?
One of our main objectives for Intentex Ltd. is to innovate the text and sentiment analysis market by offering products based on the unique engine that we have developed. Our vision is to be a tone and communicative analysis “spell” checker on every PC and mobile device in both B2C and B2B markets.
The IntenCheck products are aimed at both professionals and general public who work with texts, such as: PR specialists, CRM specialists, sales professionals, copywriters, article writers, media or advertising specialists, marketing specialists, politicians, journalists, editors, lawyers, speech writers, website owners & bloggers, writers, teachers, students & non-native English speakers. Currently, we are developing various extensions and plugins for major text editors and email clients. We have already published Chrome extension which is available here: https://chrome.google.com/webstore/detail/intencheck-text-analysis/mmkninfloidphkpejalibiclcdoelcnj
We are constantly working on improving the software as well as on other addins and plugins. IntenCheck plug-ins will be available for major applications such as MS Word, Outlook/Office365, Gmail/Google Apps, Salesforce, compliance, etc. At the moment our system is built for the English language only, but we are planning to add other major languages in the near future.
Thank you for the answers!
Original post link: https://www.startuplithuania.com/news/startup-week-intentex/